The UK’s Scotch Whisky Association (SWA) has released figures that demonstrate that while the fall in value of Scotch whisky exports has begun to abate, a Brexit would represent a major setback for the industry.
Though the export value of Scotch was down by 2.4 per cent in 2015, its value is still 56 per cent greater than ten years ago.
That the 2.4 per cent dip is an improvement on the seven per cent reduction for the previous 12 months is cause for optimism, according to the SWA.
David Frost, Scotch Whisky Association chief executive, said in a press release, "Scotch whisky exports continue to deliver and the fundamentals for future growth are strong. Whilst the last couple of years have been more difficult, the longer-term picture has been one of increased demand, new investment, and premiumisation.
"Challenges remain, with an uncertain global economy and political uncertainty in some export markets. Continued EU membership will also help to support Scotch whisky exports to the single market and would leave Scotch well placed to benefit from the lower tariffs and fairer market access that the EU has been able to secure through its negotiation of Free Trade Agreements with countries around the world."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.