UK drinks exports jump 13% to £9.4bn as sales in Asia grow

Drinks exports from the UK have jumped from £8.3bn to £9.4bn year-on-year, according to new research, bumped up by whisky buyers in India and Singapore. Accountancy firm Hazlewoods has reported that UK drinks exports grew 13% from £8.3bn in the year to 31 July 2022 to £9.4bn a year later. Spirits are playing a key role in rising drinks exports, driven by heritage gin and whisky brands. Rebecca Copping, associate partner at Hazlewoods, said that British heritage brands have successfully placed themselves as a luxury in the international drinks market. She commented: “A large chunk of this success is due to young, wealthy consumers purchasing quality drinks brands that signify status and success.” Copping said that consumer spend on luxury goods has “held up well”, despite volatility in the economy and high interest rates around the world, but warned that “sales growth of luxury goods is slowing”. “This post-Covid boom in luxury goods sales certainly had a hand in increasing UK ...