This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
UK whisky exports drop 36%
Whisky exports from the UK plunged by double digits in volume and value in the first nine months of 2024, driven by a decline in the US.
Figures from trade body the Food & Drink Federation (FDF) found that UK whisky exports were down by 28.5% in volume and by 36.4% in value to £2.8 billion (US$3.5bn) in the first nine months of this year, compared with the same period 2023.
Whisky is the UK’s number one food and drink export by far, followed by salmon (up 27.5% in value to £693.4 million/US$867m in 2024), cheese (up 9.6% to £680m/US$850m) and chocolate (up 9.4% to £656.7m/US$821m).
The FDF noted that UK food and drink exports in the first nine months of 2024 fell by 10.2% to £16.3bn (US$20.4bn), led by a ‘significant drop’ in alcohol sales. In comparison, food and non-alcoholic drinks exports were up slightly by 1.2% to £12.4bn (US$15.5bn).
Balwinder Dhoot, director of industry growth and sustainability at FDF, said: “These figures highlight the challenges that UK food and drink continue to face when selling their products abroad. This is particularly true for the 12,000 SMEs in our industry, who struggle to overcome the administrative burdens of exporting. Providing more support for these businesses will help the UK strengthen its international trade and maintain its position on the global stage.”
UK-made whisky and gin struggle in US
The US is the UK’s third-largest export market with more than 10% of all British food and drink exports sent to the States.
For the first nine months of 2024, exports of UK-made whisky to the US were down by 23.2% in value to £558m (US$698m) and declined by 19.8% in volume.
UK gin exports to the US (the third-biggest food and drink export from the UK) plummeted by 37.1% in volume and by 38.1% in value to £81m.
In terms of US imports to the UK, whisky (the country’s third-biggest food and drink import) plunged by 30.3% in volume and by 26.1% in value to £52.1m (US$65m) over the nine-month period.
However, vodka (the seventh-biggest food and drink import from the US to the UK) bucked the trend, rocketing by 63.6% in volume. By value, the category rose by 23.2% to £36.3m (US$45.4m).
Gin from the US was named one of the fastest-growing food and drink imports to the UK, soaring by 416.2% to £5.3m (US$6.6m).
On 15 December, the UK officially joined the Comprehensive and Progressive agreement for Trans-Pacific Partnership (CPTPP) – a trade agreement of 12 nations, predominantly in the Asia-Pacific region.
In joining the bloc, the UK will now have tariff-free access when trading many products with Malaysia and improved export terms for several markets, as well as ‘more generous rules of origin’, the FDF said.
Regarding the CPTPP deal, Dhoot added: “By gaining these better terms for trading and removing friction at borders, food and drink manufacturers can access more markets and create more resilient supply chains.”
Exports of Scotch whisky fell by 18% in the first half of 2024 compared with the same period in 2023, according to figures from a trade body.
Related news
Canadian Whisky Week debuts online