US whiskey exports bring in a record US$1.4 billion

Published 2024년 3월 1일

Tridge summary

In 2023, American whiskey made up 63% of US spirits exports, totaling US$1.4 billion, a 9% increase from 2022. The total US spirits exports hit a record US$2.2bn, an 8% increase from the previous year. The EU was the largest market, accounting for 40% of exports. High-tariff countries like India, Vietnam, and Brazil accounted for only 3% of total exports in 2022. The suspension of the EU's 25% tariff on American whiskeys in 2022 led to a 61% increase in US whiskey exports compared to 2021. Over the past 20 years, global exports of US spirits have surged by nearly 280%.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

American whiskey is bringing home the bacon, accounting for 63% of US spirits exports in 2023, Discus has said. The 63% share of US exports was equivalent to US$1.4 billion in 2023, an increase of 9% compared with the year before. Total US spirits exports reached a record US$2.2bn last year, up 8% compared to 2022. The state of US spirits exports is on the mend, following tough conditions between 2018 and 2021 due to tariffs imposed by the UK and the EU. Total US spirits exports to the EU grew by 24% compared to 2022. The EU is the largest export market for US spirits, accounting for approximately 40% of exports in 2023 equal to US$883 million. The top five markets for spirits in 2023 also include, Canada ($262m), Mexico ($139m), Australia ($138m) and the UK ($129m). Free trade agreements are vital to the health of the US spirits industry. Exports to free trade agreement countries, and those with zero duties, reached $1.8bn in 2023, accounting for 83% of the total. In contrast, ...

Source: Thedrinkbusiness