UK gin exports forecast to reach £600m barrier

14th August, 2018 by Nicola Carruthers

British gin exports are predicted to hit the £600 million (US$766m) barrier for the first time this year, according to the Wine and Spirit Trade Association (WSTA).

The WSTA forecasts that UK gin exports will reach £600m for the first time

The WSTA forecasts that UK gin exports will reach £600 million for the first time

Last year saw British gin exports reach an all-time high – breaking the £500m barrier to reach £530m – and the WSTA forecasts that a new record will be set in 2018.

Shipments of gin from the UK reached £279 million (US$356m) in the first half of 2018 – more than sales for the whole of 2008 at £258m (US$329m).

The US remains the largest market, with sales to the country worth £93m in the first half of 2018, up almost £5m compared to same period last year. In Australia, sales of gin more than doubled, up by £10.3m.

By region, the EU remains the biggest destination for UK gin, with an increase of 19%.

WSTA chief executive Miles Beale said: “The global thirst for British gin continues to grow and there is no doubt that those overseas are drawn to the quality of gin made here in the UK.

“We are, by some margin, the largest exporter of gin in the world, with huge potential for growth, and our industry needs to take further advantage of this.”

Beale also called for “more government support” after the UK leaves the EU “to increase exports to developed markets such as Australia, Japan, China and the US”.

He added: “The EU represents a huge market for British gin, therefore it essential that we secure frictionless trade with Europe to ensure we maintain our position as the world’s largest spirits exporter and further boost the UK economy and provide more jobs.”

Gin sales in the UK reached £1.5 billion (US$2bn) in the 12 months to March 2018, the equivalent of almost 55m bottles, according to the WSTA.

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