MOSCOW, September 22 (RIA Novosti) - Scotch exports fell down by 11 percent in the first half of 2014 due to slowing demand in Asian countries, the Telegraph reports.
“The latest figures […] act as a reminder that the success of Scotch Whisky can’t be taken for granted. We need support from government to beat down trade barriers and help us access new markets overseas,” said David Frost, chief executive of the SWA, adding that the sales trend is expected to be positive in the long run.
The 11% decline, down to £1.99 billion, is the fastest for a six month period since 1998. It is causing anxiety about the future prospects of the industry.
According to BBC, Scotch Whisky sales came to a standstill last year partly as result of the China’s anti-extravangance policy, aimed at the liquidation of corruption and limiting use of luxury products for governmental purposes. Other factors attributable to the slowdown are stagnation in many national economies and a strong British pound.
“We are determined to play a full part in the forthcoming debate about further devolution, so that it enables a supportive business environment to ensure the future success of Scotch Whisky,” Frost said.
Scotch Whisky represents approximately 85% of Scottish food and drink exports. A further sales’ slowdown could have a negative impact on the economy of the country and result in significant financial losses.
