Whisky Exports Top GBP 3bn

By Andrew Bolger, FT.com

Scotch whisky exports exceeded £3bn for the first time last year, in spite of a 5 per cent reduction in export volumes - reflecting the industry's increasing focus on premium products.

The Scotch Whisky Association said the figures showed the industry to be resilient to the recession, but not immune. It had been affected by difficult economic conditions, particularly in the last quarter of 2008, and predicted a weaker 2009 due to weaker consumer confidence and some stock adjustments.

Paul Walsh, association chairman, said: "To achieve record export value at such a time is quite an achievement and underscores just how important the industry is to the UK economy."