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News & Press: International Trade News

British Gin exports soar

02 March 2017   (0 Comments)
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Gin and tonic

 

Exports of British gin products are proving to be a tonic for the economy, as demand has boosted overseas sales to £474 million in 2016. 

British gin exports have gone up 32% in 5 years and if current trends continue exports of gin will hit the £500 million mark before the end of 2017.

More and more nations are clamouring for the sought after spirit with 139 countries now bulk buying British gin and sales of the spirit exceeding exports of beef last year. The United States remains the largest export market. 

The gin industry is capitalising on increasing global demand for the products, a trend that saw 44 new distilleries open in the UK last year.

Gin exports were a key part of the success of the food and drink export performance, which saw an increase of more than 10% last year, to exceed £20 billion for the first time.

Chief Executive of the Wine and Spirit Trade Association, said: “The ‘Great British Gin Take Off’ has grown into a global phenomenon. The quality of the gin combined with the world’s love for brand Britain has seen British gin breaking records both at home and abroad. It is fantastic to see the quintessentially British spirit supporting a wider industry with gin themed gifts now selling like hot cakes. Britain is by far the biggest exporter of spirits in the world. We want the Government to get behind British business by supporting its spirit industry to help it reach its potential. The UK has the 4th highest excise duty rate on spirits in the EU, making British gin’s achievement more impressive. A modest 2% duty cut is a winning tonic that would boost the UK drinks industry, its employees and consumers as well as generating additional revenue to help public finances.”