News

Italy: Wine exports at -7.3% in the 5 main destination countries, average price at -3%

Red Wine
Published Feb 22, 2024

Tridge summary

In 2023, Italian wine sales in foreign markets saw a 7.3% decrease in value and a 4.4% decrease in volume, according to the Unione Italia Vini Observatory. This decline was observed across all major markets, except for Germany which experienced a 7% increase in Italian wine purchases. The United States, the largest market for Italian wine, saw a 13% decrease in volume due to excess stocks held by distributors. Other markets such as Canada, Japan, and the United Kingdom also experienced significant decreases. Despite rising production costs, the average price of Italian wine dropped by 3%, largely due to an increase in bulk wine exports and a collapse in price lists.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

A scenario of great difficulty for foreign sales of Italian wine is confirmed. According to data from the Unione Italia Vini Observatory in the 5 main markets (which represent 56% of the total), 2023 was a year of decline for made in Italy wine. The overall turnover achieved on these markets stopped at 4.45 billion euros with a drop of 7.3% in values and 4.4% in volumes. The decline in exported quantities was recorded on all the main markets with the exception of Germany where purchases of Italian wine showed a 7% increase thanks to the boom in bulk wine (+16%). What is negatively affected are the data relating to what is historically the first outlet for made in Italy wine, i.e. the United States, which in 2023 was affected by the excess stocks held by distributors. And so the USA recorded a minus 13% in volume in 2023. Canada and Japan also performed badly (minus 11% for both markets) as well as another key market for Italian wine such as the United Kingdom (which recorded a ...
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