01 May “Optimism” as whisky exports return to growth
The trade body for Scotch whisky has welcomed a resurgence in exports which has seen the value of overseas sales rise to more than £4billion.
The Scotch Whisky Association (SWA) said it was “feeling optimistic” as new figures showed the industry’s international trade grew by 4% in 2016 after levelling off and recording small declines in recent years.
Released yesterday, the statistics also showed exports of single malts exceeded £1billion for the first time last year.
Among the factors singled out by the SWA as contributing to the export increase was the weakness of sterling in the second half of 2016.
But the organisation warned short-term positive currency impacts should be seen in the context of continuing uncertainties around Brexit and the “seismic changes” the UK’s departure from the EU will bring in the longer term.
Acting SWA chief executive Julie Hesketh-Laird said: “With Scotch whisky exports returning to growth and rising to more than £4billion, and single malts exceeding £1billion for the first time, we’re feeling optimistic about the future.
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