Australia: Surge in exports to mainland China lifts export value in 2023-24

Published Jul 30, 2024

Tridge summary

In 2023-24, Australian wine exports grew by 17% in value to $2.2 billion, despite a slight volume decline. This growth was driven by a surge in exports to China following the removal of duties on Australian bottled wine. Exports to other regions, including the US and Europe, showed mixed results, with declines in some markets due to economic pressures and health trends. Notably, red wine exports increased in volume but saw a significant drop in Shiraz exports. The UK remained the largest destination by volume, while markets like Canada, New Zealand, and the UAE showed varied performance. Detailed data is available in Wine Australia’s Export Report.

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

Original content

In 2023–24, Australian wine exports increased in value by 17 per cent to $2.2 billion[1], the highest level since the 12 months ended September 2021. Volume declined by 0.2 per cent to 619 million litres while the average value increased by 18 per cent to $3.53 per litre free on board (FOB)[2]. The number of destinations that Australian wine was shipped to fell slightly, from 117 to 115. The growth in value was due to a surge in exports to mainland China. Exports to mainland China grew by $392 million to reach $400 million in 2023–24 (see Figure 1). Volume grew from 1 million litres to 33 million litres. The growth to mainland China came in the last three months of the financial year, following the removal of the duties on Australian bottled wine in late March 2024. In comparison, the value of exports to the rest of the world (excluding mainland China) declined by 4 per cent ($68 million) to $1.8 billion and volume decreased by 5 per cent (33 million litres) to 587 million litres. ...

Source: WineAustralia