Falling sales in southern Europe were more than matched by growing exports elsewhere. Exports to Germany, Russia, Latvia, Estonia, Singapore, Taiwan, China, India, Australia, Canada, Mexico, Panama, Colombia, Venezuela and Peru all increased in 2012, the SWA reports.

With increasing consumer knowledge of Scotch whisky around the world, demand grew for Single Malt and premium Blended Scotch whisky. Single Malt exports have risen during the last 10 years by 190 percent from approximately $407 million to approximately $1.2 billion, the SWA reports.

The United States remains the top market by value for Scotch whisky with exports breaking through the approximately $1 billion barrier for the first time to reach approximately $1.2 billion in 2012. Demand from the United States is expected to increase as consumer confidence grows and many people trade up to premium brands.

“Scotch whisky continues to lead the way for U.K. food and drink exports,” said Gavin Hewitt, chief executive officer of the SWA, in a statement. “A combination of successful trade negotiations, excellent marketing by producers, growing demand from mature markets, particularly the USA, and the growing middle class in emerging economies helped exports hit a record £4.3 billion last year. …

“There is confidence in the future of the industry, illustrated by the £2 billion capital investment that Scotch whisky producers have committed over the next three to four years,” he continued. “New distilleries have opened and older ones brought back to use to meet rising demand.”