Canada's wine import 2023 update

Following the American data, we also comment on Canadian wine imports, which dropped even more in 2023. According to UN Comtrade data, imports were 2.7 billion Canadian dollars, -9%, which translated into euros are 1.85 billion, minus 14%. A figure partially linked to the drop in volumes (-10% to 3.7 million hectoliters), but also in my opinion to a particularly high level of imports in 2021-22 which is normalizing. Having said that, Canada remains a market that in a five-year perspective (2018-23) has a pace of approximately 2% annual growth with a 2-2.5% annual decline in volumes. As in other "developed" markets, France fared slightly better than Italy, despite a context that we are now familiar with, namely a slightly more pronounced decline in French exports than Italian exports as a whole. We are talking about small differences, -10% for France ...