Australia: Three-year export high on the back of China

Published 2024년 10월 22일

Tridge summary

Australian wine exports experienced a significant surge with a 34% increase in value and a 7% increase in volume in the year ending September 2024, reaching a record high of $2.39 billion and 643 million liters. This growth is primarily due to the resumption of wine exports to mainland China, following the removal of import duties, which saw a increase in value by $604 million and volume by 58 million liters. However, exports to other destinations such as the United States, Canada, and Europe saw a decline in volume, totaling exports to all destinations remained stable in value at $1.78 billion but declined by three percent in volume to 585 million liters. The report also highlighted a decrease in global wine exports by three percent in volume, led by the top ten exporting countries. Red wine exports saw a growth, while white wine exports had a slight increase in value but a decline in volume.

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

Original content

Australian wine exports increased by 34 percent in value to $2.39 billion and by seven percent in volume to 643 million litres in the 12 months ended September 2024, according to Wine Australia’s Export Report. These are the highest levels of shipments by both volume and value since the 12 months ended August 2021. The growth was driven by the re-entry of Australian wine exports to mainland China following the removal of import duties on Australian bottled wine in late March 2024. The value of shipments to mainland China increased by $604 million to $612 million, while volume increased by 58 million litres to 59 million litres. Wine Australia manager, Market Insights, Peter Bailey said, “Although the September quarter was smaller than the June quarter in both volume and value, it was still significant – totalling 27 million litres worth $214 million.”

Source: Wbmonline