NEWS
FRENCH EXPORT TO ASIA UP 3% IN 1ST HALF, THANKS TO JAPAN AND S. KOREA
By Siulan Law Mathews DipWSET
10-9-2019
Export of French wine and spirits to Asia reached €1.6 billion in the first half of 2019, up 3% over the same period last year. Japan and South Korea saw double digit growth while China, Hong Kong and Singapore stagnated with a 0.6% drop.
According to latest data released by French Wine and Spirits Exporters’ Federation (FEVS), Japan and South Korea are the biggest contributors to the increase seen in Asia, revenues of Japan’s French wine and spirits import rose 13%, while that of South Korea increased by 11%.
Of the two categories, French export of wines to Asia actually declined by 7%, the drop was off-set by an 8% increase in the export of spirits.
Export value of French spirits was €2.2b, an increase of 11% compared to same period last year, with strong growth in China at 17%, North America at 21% and Africa at 10%.
Total wine and spirits export reached €4.5b by value in first half of the year, up 6% over the same period last year. By volume, it reached 68.8 million cases, up a marginal 0.5%.
The United States is still the key market for French wine and spirits, by value it reached €1.8b representing 16.5% increase, by volume there was a 5.2% growth.
Export to other European Union countries has rebounded, with 7% increase by value to €2.2b, by volume it was 2% up.
The rebound is mainly due to strong growth in the United Kingdom, probably due to preparations for Brexit originally planned for 29th March.
"The continued growth in all our product categories in the first half of the year is very good news," said President of FEVS Antoine Leccia.
"However, we have to be careful about the political and economic uncertainties around the world which remain difficult to predict. These uncertainties inevitably weigh on our markets, we must therefore remain very cautious about the year-end outlook.”
(the writer can be contacted at: SLawMathews@thewinechronicle.com)
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