Southeast Asia emerges out of the COVID-19 pandemic as a source of growth for wine exports

Published 2023년 3월 21일

Tridge summary

Australian wine exports to Southeast Asia experienced a 16% increase in value and a 56% increase in volume in 2022, reaching a record $305 million and 27 million liters. This growth is expected to continue, with the region's economic growth and rising incomes. Despite Singapore's decline in value of imports, it remains the largest wine market in Southeast Asia. Other countries like Thailand and Malaysia are showing significant growth. The series will delve deeper into the insights of key markets in Southeast Asia in the next article.

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

Original content

In 2022, Australian wine exports to Southeast Asia grew by 16 per cent in value to $305 million and 56 per cent in volume to 27 million litres. In light of this growth, and Vinexpo Asia taking place in Singapore in May 2023, this Market Bulletin will be the first in a two-part series examining the region, with today’s part one looking at recent trends in the region as a whole. Part two will focus more closely on insights into key markets in the region. Emerging markets driving economic growth Southeast Asia is a diverse group of markets, home to more than 686 million people, about 8.6 per cent of the world’s population. Indonesia and the Philippines are the most populous, followed by Vietnam, Thailand, Myanmar, and Malaysia. As a whole, these markets represent a significant opportunity for Australian wine due to their population size and economic growth. Singapore is the only market classified by the International Monetary Fund as an “advanced economy” in Southeast Asia, while the ...

Source: WineAustralia