NEWS
AUSSIE WINE EXPORTS TO GREATER CHINA HIT NEW VALUE RECORD
By Susan Lewis
30-10-2019
Australian wine exports to Greater China reached a record value of AUD1.25billion (USD862million) in the 12 months to September 2019, an increase of 18 percent compared to same period last year, according to latest figures released by Wine Australia.
By volume, however, the numbers which include Hong Kong and Macau represent a drop of 16 percent.
Yet the volume decline in this market has been offset by the increase in the money spent on each bottle of Australian wine.
Wine Australia’s figures showed that Greater China consumers have on average spent 40 percent more at AUD 8.42 for a liter of Australian wine.
Andreas Clark, Chief Executive Officer of Wine Australia, said: “While the International Monetary Fund had reduced its forecast growth rate for China’s economy to 6.1 per cent in 2019, the potential softening of consumer demand was offset by Australia’s continued strong performance in the market.”
“Global Trade Atlas figures for the year ended August 2019 showed that overall wine imports declined by 11 per cent in value (AUD), which has led to Australia eclipsing France as the number one source by value while Chile is the number one by volume,” Clark added.
Exports to markets in Northeast Asia, including important markets like Japan and South Korea, showed a 17% growth in the period by value to AUD1.34b.
While export value to Southeast Asia, to markets like Singapore and Malaysia, has increased by 5% to AUD179m.
Globally, the value of Australian wine exports has continued to grow in the period, increasing by 7 percent to AUD2.89b.
The USA, Australian wines’ second biggest market by value after Greater China, has seen an increase in export value of 3 percent to AUD436 million, while in volume there is a decline of 9 percent.
The United Kingdom, Aussie wines’ top market by volume, has seen declines in both value and volume by 4 percent and two percent respectively.
Summarising the growth:
• Northeast Asia, 17 per cent to AUD1.34 billion
• North America, 0.1 per cent to AUD625 million
• Southeast Asia, 5 per cent to AUD179 million
• Oceania, 1 per cent to AUD106 million, and
• Middle East, 16 per cent to AUD35 million.
(the writer can be contacted at: SusanLewis@thewinechronicle.com)
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