November 2022 update on Italian wine exports

Italian wine exports lose some speed in November (+5%) but maintain the pace of around 11% growth. The main positive signal in the data we present today is the trend of sparkling wines: November is usually the second most important month of the year for the category and this year November was marginally above October (227 million against 220), which it's a good sign. There are very few real negative signs. If we wanted to find them, we would have to analyze in detail the stabilization of still bottled wine exports, which have been stable for the past couple of months. It is very difficult to say how much is due to an actual slowdown (Sweden, Denmark, Canada and parts of the UK had a so-so month) or whether it is a particularly high basis of comparison at this point in the year. Certainly we are heading to close 2022 with exports growing by around 11%, a figure very similar to that of French exports (the first figures, which we do not yet have in detail, say +11%) after a first six ...