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Single malt Scotch whisky exports top £1bn for first time

Single malt Scotch whisky topped £1bn worth of exports for the first time in 2016.

21/02/2017

The milestone reflects a return to growth for exports of Scotch more widely, with nearly £4bn of overseas sales in total.

Exports account for around 93% of production.

That follows a dip in 2014 and 2015, when a rapid increase in previous growth was checked by disrupted overseas markets.

Chinese officialdom cracked down on lavish hospitality, while key growth markets in Venezuela and Brazil hit serious economic difficulties.

British exports of gin, meanwhile, rose by 13% last year, as it enjoyed a boom in variety and interest, rising to £474m worth.

The return to growth for Scotch whisky has been driven by the success of single malts appealing to luxury and prestige markets.

New features

These have to be made at one distillery, from malted barley, and matured for at least three years in traditional casks.

They are led by brands including Glenfiddich, Glenlivet, the Macallan, Jura, Laphroaig, Talisker and Highland Park.

Figures issued this month by HM Revenue and Customs trade shows the amount of pure spirit exported as single malt in 2016 was equivalent to 113m standard bottles at 40% strength.

That did not rise as fast from 2015 as the value placed on single malts, as distillers find new expressions and add new features with which to add super-premium value.

These include longer maturation, stronger, cask-strength versions, and different types of cask flavouring.

The total value of single malt exports reached £1.02bn, up from £914m in 2015.

It now represents nearly 10% of the volume of Scotch exported, and more than 25% of its value.

Read more at source: BBC

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