Australian wine exports: Growth and declines in delicate balance

Published 2024년 4월 30일

Tridge summary

Despite a decrease in Australian wine exports to North America and Southeast Asia, growth in Europe and Hong Kong has led to a relatively stable export performance for the country, as reported by Wine Australia. The exports' value fell by 1% to $1.88 billion and the volume by 2% to 611 million liters in the year to March 2024. The growth in Hong Kong and Europe was balanced by the decline in North America and Southeast Asia. The largest contributors to value growth in the past year were Hong Kong, New Zealand, and the UK, while exports to Canada, the US, Singapore, South Korea, Indonesia, and Malaysia declined. Asia was the largest region for Australian wine exports, with a 36% value share.

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Original content

Despite declines in Australian wine exports to North America and Southeast Asia, growth in Europe and Hong Kong has resulted in a “relatively stable period” for the country’s export performance, Wine Australia has said. Australian wine exports declined by 1% in value to $1.88 billion and 2% in volume to 611 million litres in the 12 months to March 2024, according to Wine Australia’s Export Report released today. The organisation described the period as “relatively stable” for Australian wine’s overall export performance in recent times, as declines in some parts of the world were evened out by growth in other regions. Over the past 12 months, growth of Australian wine exports to Hong Kong and Europe have been offset by declines in North America and Southeast Asia. Peter Bailey, Wine Australia manager, market insights, said: “The largest drivers of value growth in the past 12 months were Hong Kong, New Zealand, and the UK, while exports to Canada, the US, Singapore, South Korea, ...

Source: Thedrinkbusiness