NEWS
FRENCH WINE & SPIRIT EXPORTS REACHED RECORD HIGH IN 2021 THANKS TO USA & ASIA
By Siulan Law Mathews DipWSET
18-2-2022
Credit: Anthony Choren/Unsplash
Despite having historic low wine production, value of French wine and spirits exports hit a new record high in 2021 reaching €15.5 billion (USD17.6 billion), boosted by the lifting of US punitive tariffs and a strong recovery in Asian markets.
According to the latest data released by the Federation of French Wine and Spirits Exporters (FEVS), wine and spirits exports is France’s second-biggest after the aerospace sector, trade value was up by 28 percent on 2020 and volume up 11 percent reaching 203 million cases of 12 bottles.
“This positive result in 2021 is remarkable. Despite the remaining health, logistical and geopolitical constraints, French wines and spirits companies have shown both their willingness and their ability to bounce back in the different parts of the world,” FEVS Chairman César Giron said in a press release.
Source: Federation of French Wine and Spirits Exporters
FEVS partly attributed the record-breaking performance to recovery in the Asian markets, especially the reopening of bars and restaurants which brought export value to the region to €3.7b.
Exports of French spirits to Asia increased 47 percent in value and 24 percent for wines in 2021. While volume increase was 17 percent for spirits and 15 percent for wines.
In the United States, exports of wines and spirits increased by 34 percent to €4.1b, while volume was up 20 percent.
The suspension of Trump's 25 percent punitive tariffs in March 2021 strongly stimulated the recovery for still wine shipments with 33.5 percent increase for the whole year, allowing France to regain some market shares over its main competitors.
Exports of sparkling wines to USA saw a whopping 62 percent increase while export of spirits remained strong with 25 percent growth.
“Our companies have grounds for pride: they have shown their ability to succeed, after 18 very difficult months, facing American duties linked to the dispute on aeronautics and the global pandemic,” said Giron.
Globally, exports of French spirits grew by 30 percent to €4.9b during the period, with volume up 12 percent to 54.5 million cases,while French wines' turnover increased by 27.5 percent to reach €10.5b and volume was up 10 percent to top 145 million cases.
(the writer can be contacted at: info@thewinechronicle.com)
ALL RIGHTS RESERVED
**IF YOU THINK THE WINE CHRONICLE IS WORTH SUPPORTING, PLEASE MAKE A DONATION TO HELP US IMPROVE AND CONTINUE OUR WORK**
TRENDING│ FOCUS│ MISSION│ ABOUT US│ CONTACT
| 