NEWS
EUROSTAT: EUROPEAN WINE EXPORTS TO CHINA IN SHARP DECLINE
By Siulan Law Mathews DipWSET
16-12-2024
Credit: Amy Chen/Unsplash
European wine exports to China has seen a sharp decline this year, the most extreme case is Greece as its China wine exports crashed by 76 percent in the first three quarters of this year.
The stark reality is revealed by a report released by the Eurostat which tracked shipments of wines from eight European wine producing countries - Austria, France, Germany, Greece, Hungary, Italy, Portugal and Spain – to major markets namely Canada, China, UK and USA.
According to the the report, among the eight wine countries, only Germany managed to expand its wine exports to China in the period. The growth in export value is a remarkable 20 percent.
All the remaining seven countries saw double digit decline in their wine export value to China in the period, Greece (-76 percent), Hungary (-53 percent), Portugal (-22 percent), Spain (-15 percent), France (-13 percent), Italy (-11 percent) and Austria (-11 percent).
Source: Eurostat
By volume, the data shows a similar picture, Germany (+23 percent), Greece (-75 percent), Hungary (-45 percent), Spain (-30 percent), Portugal (-18 percent), France (-16 percent), Austria (-8 percent) and Italy (-4 percent).
Weak consumption in China as a result of a severe correction in the property market is a factor behind this decline in imported EU wines.
The trade war between EU and China on Chinese electrical vehicles also added pressure to wine importers.
Meanwhile, Beijing lifted the ban on Australian wines in end of March, as Chinese wine importers restock Australian wines, EU wines unfortunately lost their market share.
(the writer can be contacted at: info@thewinechronicle.com)
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