UK Gin Exports Worth £474 Million In 2016: WSTA
UK gin exports reached £474 million last year, on the back of a 12% like-for-like sales rise.
While this means that the industry grew 32% over the previous five years, the Wine and Spirit Trade Association (WSTA) believes that its value could surpass the half-billion-pound mark over 2017. Last year's 12% increase in exports accounts for an additional £53 million, according to the HM Revenue & Customs figures.
Domestically, 41 million bottles of the spirit were sold – a 12% increase – of which more than 12 million were shifted during the Christmas period.
“The ‘Great British Gin Take-Off’ has grown into a global phenomenon,” said WSTA chief executive Miles Beale.
“The quality of the gin, combined with the world’s love for brand Britain, has seen British gin breaking records, both at home and abroad. It is fantastic to see the quintessentially British spirit supporting a wider industry, with gin-themed gifts now selling like hot cakes. Britain is, by far, the biggest exporter of spirits in the world.
Beale advocated for a 2% duty cut as the ''winning tonic" that would boost the UK drinks industry.
“We want the government to get behind British business by supporting its spirit industry to help it reach its potential. The UK has the fourth-highest excise-duty rate on spirits in the EU, making British gin’s achievement more impressive."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.