Australia: Mixed results in key markets lead to stable export performance

Published 2024년 4월 30일

Tridge summary

Australian wine exports experienced a slight decline with a 1% drop in value to $1.88 billion and a 2% decrease in volume to 611 million litres in the year ending March 2024, as per Wine Australia’s Export Report. This minor decline indicates a stable overall performance. The growth in Asian and European markets was balanced by a decrease in exports to North America and other Asian destinations. Asia remained the largest region for Australian wine exports, with a 36% value share. Notable growth was seen in Northeast Asia, especially Hong Kong, and the United Kingdom. However, exports to the United States and Canada experienced a decline, primarily in unpackaged wine and packaged exports, respectively.

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Original content

Australian wine exports declined by 1 per cent in value to $1.88 billion and 2 per cent in volume to 611 million litres in the 12 months to March 2024, according to Wine Australia’s Export Report released today. The latest figures reflect a relatively stable period for Australian wine’s overall export performance in recent times. Figure 1: Volume and value of Australian wine exports Wine Australia Manager, Market Insights, Peter Bailey said that over the past 12 months, growth in some markets in Asia and Europe has been offset by a decline in exports to North America and, to a lesser extent, other destinations in Asia. "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, Indonesia, and Malaysia declined,” Mr Bailey said. “While we expect volatility to continue at an individual market level, data from recent quarters suggest that overall declines have stabilised, and a more ...

Source: WineAustralia