Again, from Reporting Scotland’s least-used business source:
Scotch Whisky exports rose to almost £2 billion in the first half of the year. Exports increased in value by 10.8% to £1.97 billion, compared with the same period in 2017. Analysis of official HMRC figures published by the Scotch Whisky Association (SWA) also shows the volume of exports increased by 5.6% to almost 558 million bottles. Exports to emerging markets continued to grow, with a 34.8% increase in the value of Scotch Whisky going to China, and a 44.4% increase to India. The US remains the largest export market by value at over £400 million, with France largest by volume at almost 90 million bottles. The European Union remains the biggest regional destination, accounting for 39% of the volume of Scotch Whisky exports and 31% of their value.’
Scotch now accounts for more than 20% of all UK food and drink exports!
8% of the population, over 25% of the food and drink exports. How could this wee stupid country expect to survive? How could we pay off all ‘our’ debts to the UK? I need a drink.
Good Morning Scotland and Reporting Scotland did report this. There were several ‘buts’. There was also a question which seemed to be trying to push the representative of the Scotch Whisky Association to state that it would be better to have a post Brexit deal with the US, ‘since this was the biggest market’. The spokeswoman was too media-savvy to fall for this. The EU is actually the biggest market.
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Noticed a wee piece on Common Space some weeks back re. some figures that had been released about whisky profits. Fantastic to see the profits being generated by a Scottish industry but considerable scope for a rather more widespread sharing of those profits. I copied a couple of snippets which seemed relevant – see below:
Family-owned distiller William Grant & Sons has reported a strong rise in sales and profits, following good performances from its core brands.
The firm’s turnover climbed from just over £1bn in 2016 to almost £1.2bn last year, with pre-tax profits rising from £260.2m to £304m.
NOTE: The Gordon-Grant whisky family, whose labels include Grant’s, topped this year’s Scottish rich list, and the Sunday Times reported they were unique to the history of the list: no one who has been on the list since it began in 1989 has seen their wealth rise faster – a 5,000 per cent growth in 29 years.
A report by Biggar Economics in 2012 found that the industry as a whole made about £3 billion in annual profit, a number which is likely to be substantially higher now. Based on the 2012 figure, a production tax of £1 per bottle would raise over £1 billion for the Scottish Parliament.
And they seriously try to tell Scotland she’s too poor for Indy?