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Europe hails 5% growth in spirits exports
European spirits exports increased by 5% to €10.7 billion (US$12.4bn) last year, but the industry now faces a “trade narrative” that has become “increasingly difficult”.
The trade environment for spirits is becoming more challenging
Trade group Spirits Europe announced the increase in its latest annual Trade Review, which also showed that 2017’s exports translated into sales of around €1.2m every hour.
Spirits exports exceeded imports, meaning that “the sector effectively generated next to €9bn in net value”, according to Spirits Europe.
“Today’s results show just how much European spirit drinks are appreciated around the world,” said Ulrich Adam, director general of the association.
“Wherever local economies grow and markets open, we see a rising demand for our whiskies, vodkas, Cognacs or gins. As a true champion of free and fair trade, we very much value the Commission’s efforts to negotiate tariff removal and the elimination of non-tariff barriers.”
However, an escalating trade row between the US and other nations around the world, including the European Union, has presented a new threat to spirits.
The EU announced its decision to slap retaliatory tariffs on a number of US goods – including American whiskey – in response to Donald Trump’s decision to impose import duties on aluminium and steel. China, Mexico, Canada and Turkey also recently stated plans for retaliatory taxes.
The Distilled Spirits Council warned that around 46% of US spirits exports could soon be hit by trade retaliation around the world.
Adam added: “During the last months and days, the trade ‘narrative’ has become increasingly difficult, with fresh challenges emerging. Now, more than ever, is the moment to trust the value of rules-based trade relationships and the mutual benefits they create for those who engage in them.
“The success of Europe’s spirits sector shows that trade works. We therefore need an assertive, positive EU trade agenda that accelerates new trade negotiations with additional countries.”