Australian wine exports climb 34% thanks to China

Published 2024년 10월 22일

Tridge summary

In the year leading up to September 2024, Australian wine exports surged to AU$2.39 billion, driven by a 34% increase in value and a 7% rise in volume, primarily due to the re-entry into the Mainland China market following the removal of import duties. The value of shipments to China rose significantly, with premium wines playing a key role. Despite this growth, Wine Australia warns that these figures do not directly translate to sales and highlights the importance of market diversification. Meanwhile, exports to the US declined, and other markets showed varied results. Globally, wine exports from leading countries faced declines due to challenges like cost-of-living pressures and shipping delays.

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

Original content

Exports of Australian wine reached AU$2.39 billion in the 12 months to September 2024 as gains made by the re-entry into Mainland China offset declines in the US market. Australian wine exports increased by 34% in value to AU$2.39bn in the 12 months ended September 2024. Volume exports were also up, though at a significantly lower rate, climbing 7% to 643 million litres, according to Wine Australia’s Export Report released today. These are the highest levels of shipments by both volume and value since the 12 months ended August 2021, and the growth was driven by the re-entry of Australian wine exports to Mainland China following the removal of import duties on Australian bottled wine in late March 2024. Premium wines making their way back into Mainland China are responsible for a significant part of the value increase. Peter Bailey, Wine Australia manager for market insights, explained: “While the export figures to mainland China are very positive, the impact on total export value ...

Source: Thedrinkbusiness