Tough conditions persist for Australian wine exports

Published 2023년 4월 27일

Tridge summary

Australian wine exports experienced a decline of 7% in value and 1% in volume in the year ending March 2023, falling below the 10-year averages. This decrease was largely attributed to a drop in exports to the United Kingdom. Despite this, there was growth in exports to the United States and Canada, and emerging markets in Southeast Asia showed strong growth at both the commercial and premium ends. The export results reflect tough conditions in the global wine industry, with economic hardship and increased competition affecting traditional markets.

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

Original content

Emerging markets in Southeast Asia showed strong growth for Australian wine exports but were unable to offset declining value to traditional markets, where tough conditions continued in the year to the end of March 2023, according to Wine Australia’s latest Export Report released today. Australian wine exports overall declined by 7 per cent in value to $1.90 billion and 1 per cent in volume to 620 million litres (69 million 9-litre case equivalents) in the year to 31 March 2023. This is 18 per cent below the 10-year average value of $2.30 billion and 16 per cent below the 10-year average volume of 736 million litres. Wine Australia Manager, Market Insights Peter Bailey said the year-on-year decline in value was largely driven by a decrease in exports to the United Kingdom (UK). “The UK is still experiencing the decline that we’ve previously reported, which is the result of elevated shipments over the past two years due to pre-Brexit demand and COVID-19 induced changes in consumer ...

Source: WineAustralia