Its going to be another happy New Year for Scotch whisky, it would appear

It's going to be another happy New Year for Scotch whisky, it would appear

Scotch whisky continues to play a “key role” in the Scottish economy, according to data released late last month.

A report commissioned by the Scotch Whisky Association, released to coincide with the 100th anniversary of the trade body last year, has found that the country's whisky industry generates annual export sales in the region of GBP4bn (US$6.5bn). This compares to refined petroleum, which brings in GBP3bn, and business services at GBP2.5bn, the report finds.

The industry also supports around 36,000 jobs across in Scotland, the report adds.

A hundred years ago, the industry employed 5,000 people in Scotland and generated GBP3m in Gross Value Added, the SWA noted.

“The report shows Scotch Whisky is likely to play an increasingly important role in Scotland’s export markets,” said the association's chief executive, Gavin Hewitt. “The momentum of growth needs to be better nurtured by both the UK and Scottish Governments. Scotch Whisky underpins their ambitions for export-led recovery.”

Market leaders Diageo and Pernod have both pledged further investment in their Scotch production facilities, as emerging markets continue to soak up supply. In June, Diageo announced a $1.55bn injection into its operations in Scotland, confirming plans to build a new distillery in the country. Pernod, meanwhile, followed its commitment in May to spend $62.2m on its facilities by applying in October to build a new distillery in Speyside.

The report was commissioned by the SWA and researched by 4-consulting.