Australia: Exports continue to decline as income and health concerns impact global wine consumption

In the 12 months to December 2023, Australian wine exports declined by 2 per cent in value to $1.90 billion and 3 per cent in volume to 607 million litres. While these levels of exports are still well below long-term averages, this is an improvement from the $1.8 billion published in the September 2023 Export Report. Total export value in the December quarter was $600 million (see Figure 1), a 23 per cent increase compared to the same quarter in 2022 and the highest quarterly value since December 2020. Volume increased by 2 per cent to 162 million litres for the quarter (see Figure 2). As volume and value moved similarly over the 12 months to December 2023, average value of exports stayed level at $3.13 per litre free on board (FOB). Figure 1: Value of Australian wine exports by quarter The improved performance by value in the December quarter, was mostly driven by an increase in exports to Hong Kong. In addition, exports to Singapore, the United Kingdom (UK), Malaysia and ...