Here’s a number that’ll make your head spin: Scotch whisky producers shipped 44 bottles every single second in 2024. That’s enough to keep even the largest of thirsts sufficiently quenched, but the industry’s latest figures suggest it’s not all celebrations at Scotland’s distilleries.
The Scotch Whisky Association (SWA) just dropped their 2024 export numbers, and while 1.4 billion bottles shipped worldwide sounds impressive, the industry’s actually seeing some storm clouds on the horizon. The total value of exports hit £5.4bn – down 3.7% from 2023, giving producers a bit of a hangover.
What’s stirring up trouble in the whisky world? It’s a perfect storm of headaches: consumers watching their wallets, hefty tax hikes at home (we’re talking a 14% increase in 18 months – ouch), and global trade getting about as complicated as a master blender’s recipe book.
There have been some changes in the export rankings too. India’s back on top as the biggest buyer by volume, knocking France off its perch with a thirst for 192 million bottles. Meanwhile, America’s still top when it comes to value, dropping a cool £971m on Scotch in 2024 – though even that relationship’s getting complicated with shifting trade winds.
Top 10 Scotch Whisky Export Markets by Value (2024 vs 2023/2019)
| Country | 2024 Value (£m) | % Change vs 2023 | 2023 Value (£m) | % Change vs 2019 | 2019 Value (£m) |
|---|---|---|---|---|---|
| USA | £971m | -0.7% | £978m | -9.1% | £1.07bn |
| France | £419m | -11.6% | £474m | -3.0% | £432m |
| Singapore | £310m | -17.9% | £378m | +3.5% | £300m |
| Taiwan | £298m | -12.5% | £341m | +45.1% | £205m |
| India | £248m | +13.8% | £218m | +49.5% | £166m |
| Spain | £196m | +6.4% | £184m | +8.8% | £180m |
| Japan | £182m | +7.1% | £170m | +24.2% | £147m |
| Türkiye | £178m | +36.7% | £131m | +279.5% | £47m |
| Germany | £169m | -14.2% | £197m | -8.3% | £185m |
| China | £161m | -31.5% | £235m | +81.4% | £89m |
Top 10 Scotch Whisky Export Markets by Volume (2024 vs 2023/2019)
| Country | 2024 Volume (m bottles) | % Change vs 2023 | 2023 Volume (m bottles) | % Change vs 2019 | 2019 Volume (m bottles) |
|---|---|---|---|---|---|
| India | 192m | +14.6% | 167m | +46.6% | 131m |
| France | 177m | +1.9% | 174m | +2.3% | 173m |
| USA | 132m | +3.7% | 127m | +3.7% | 127m |
| Japan | 74m | +22.9% | 60m | +22.2% | 60m |
| Spain | 59m | +1.9% | 58m | +3.7% | 57m |
| Germany | 56m | -6.1% | 59m | +12.6% | 50m |
| Brazil | 52m | +22.8% | 43m | +22.1% | 43m |
| Poland | 48m | +5.6% | 45m | +46.9% | 33m |
| Türkiye | 47m | +14.0% | 41m | +216.2% | 15m |
| China | 30m | -1.7% | 31m | +77.3% | 17m |
If you zoom out to pre-Covid times, things don’t look too bad – exports are up 10% in value since 2019 – but here’s the kicker: the industry’s shipping more bottles (up 3.9% from last year) while making less money, suggesting consumers might be reaching for different shelves than they used to and may dilute scotch whiskies perception as a luxury product long-term.
The SWA’s chief, Mark Kent, isn’t mincing words. When 70% of an average bottle’s price goes straight to tax, and new regulations are piling on costs faster than peat in a kiln, something’s got to give. He’s calling on the UK government to ease up on the tax front and maybe speed up those trade talks with India while they’re at it.
The bottom line? Scotch whisky’s still a powerhouse, but even this legendary industry isn’t immune to economic pressures.
