4-5-2018
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According to the latest data released by China’s Customs Administration, the volume of imported wines increased by 1.19 million litres in the first quarter of this year, representing an increase of 25.13%. In value terms, there was an increase of 788.4 million USD, or 35.62% over the same period last year. The figures showed that the unit price of imported wines has been on the up. Contributing to the increase in unit price are the rising Chinese demand of higher quality wines as well as the reduction in world wine production. Guangdong Province is once again the top region in wine imports. Total volume imported in the period was 3.77 million litres of wine, at a value of 246.66 million USD. The Shanghai Municipality ranked second. The strong growth in wine imports in the first quarter is in line with the solid performance of the Chinese domestic consumer market in the same period. Australia has beaten other producing countries to become top wine exporter to China. Thanks to the reduction in tariff because of the China-Australia free trade agreement and the relative weakness of the Australian dollar compared to the Renminbi in the first quarter. The value of Spanish wine imports increased more substantially than the volume increase, indicating that imported Spanish wines have become more expensive because of the reduction in production caused by bad weather in 2017. Also on the up were unit prices for wines from South Africa, Germany and Portugal. Meanwhile Italian wines have seen strong growth in both volume and value.
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