Every so often, it’s worth reminding yourself just how much of a global success story the Scotch whisky industry has become.
The numbers are as eye-watering as the hangovers (not that I’m speaking from experience, you understand).
It’s a business that adds £135 to the UK’s balance of trade each and every second.
Such is its success that we sent the equivalent of 1,228,559,804 bottles abroad last year, which in themselves accounted for about 85% of Scotland’s total food and drink exports. Huge, huge figures.
Plans for new distilleries are now myriad, as producers splash their cash in the hope of grabbing a share of the vast market.
Drinks giant Diageo is spending hundreds of billions to expand its Scotch offering at home and abroad, and has now employed walking superbrand David Beckham to push a new grain whisky from the historic Haig label. You need only tap the two names into your favourite search engine to appreciate the potential worldwide reach of that combination.
But much smaller outfits are at it, too.
Earlier this month, plans for Islay’s ninth yes, ninth distillery were unveiled. That’s quite a few for an island population of about 3,200 souls, but such is the cachet associated with the ‘Islay malt’ label that the developers reason there’s room for a newbie.
Jean and Martine Donnay already run an acclaimed distillery in Brittany, but their plan to invest £2.5 million in the new Gartbreck Distillery shows you don’t have to be huge to target growth.
The Scotch sector is as much about premium, prestige and heritage as it is about volume. If you can put your product right and tell your customers the right story then you will almost certainly sell.
This flourishing of new developments comes after distillers have seen their horizons extended by seemingly ever-increasing thirst for the water of life, and the rise of the middle classes in emerging economies.
New figures last week showed how that thirst remains in many parts of the world, but they also revealed areas where the trade could be on the rocks.
The statistics, compiled from official HM Revenue and Customs returns and unveiled by the Scotch Whisky Association, showed the value of whisky exports fell marginally last year despite a 2.5% increase in the total volume shipped.
They marked a turnaround on the previous year, when volumes fell and increasing ‘premiumisation’ was hailed as the reason for Scotch exports climbing to their highest-ever value.
As ever, though, bald numbers don’t tell the full story.
Economic strife in Asia has hit exports to the region. An increasingly successful domestic industry may also have contributed to poor returns from Japan, while a crackdown on business entertaining in China has stymied that potentially vast market sending volumes tumbling by more than a quarter over the last 12 months.
There are other areas where performance is under pressure: Venezuela, which had been doing very well, has dropped off dramatically, thanks in part to the domestic political situation.
On the flip side of the coin, India has grown its market share despite very high import tariffs and popular local whiskies.
Understandably, the SWA wants more negotiations over free trade once India’s elections are out of the way and Diageo clearly sees considerable benefits from buying into Bangalore-based United Spirits.
A tenfold improvement in the performance of the Polish market over the last decade has proven what can be achieved with the opening of trade channels through entry to the EU, in Poland’s case.
Yesterday’s news on further protection for Scotch in Australia will also be welcome.
Exports to France bounced back last year after the scrapping of import tax hikes, while hopes are high that new trade talks between Washington and Brussels can provide a further boost in the industry’s highest-value market.
The trends all go to show the domestic value in ensuring both export policies and support mechanisms are up to scratch.
As well as keeping us firmly in the international eye, the Scotch industry employs thousands and contributes a vast amount to typically small and rural communities across the country.
Government would do well to spend a little more of its tax take from the sector on the diplomacy required to help producers flourish.