AUSSIE WINE EXPORT VALUE DECLINED 11% IN PAST YEAR DRAGGED BY WESTERN MARKETS
By Susan Lewis
Source: Wine Australia
Australian wine exports declined by 11 percent in value to AUD1.79 billion (USD1.13b) in the past year mainly dragged by consumption declines in western economies, according to Wine Australia’s latest Export Report released yesterday.
The USA was a major contributor to the overall drop in value, along with Canada and the UK.
Export value to USA dropped 11 percent to AUD366 million, to the UK down 10 percent to AUD354m and to Canada declined 22 percent to AUD148m.
Asian markets were the only bright spots in the past year that helped offset some of the declines in western countries.
The Hong Kong market saw 26 percent growth to AUD205m, followed by Thailand, Vietnam and the Philippines. Export value to Singapore, however, was down 12 percent to AUD117m.
Export value of Australian wines has been on a downward trajectory since peaking at AUD3.1b in the 12 months ended October 2020.
Wine Australia said the announcement that China has agreed to undertake an expedited review of its import duties on Australian wine is obviously a welcome step for grapegrowers and winemakers across the country.
It also said it will continue to work closely with the Australian Government and Australian Grape & Wine to support this process in any way it can.
The top five markets by value in the year ending September 2023 were:
USA (down 11 percent to AUD366 million. 20 percent share of total export value)
UK (down 10 percent to AUD354 million. 20 percent share of total export value)
Hong Kong (up 26 percent to AUD205 million. 11 percent share of total export value)
Canada (down 22 percent to AUD148 million. 8 percent share of total export value), and
Singapore (down 12 percent to AUD117 million. 7 percent share of total export value).
The top five markets by volume were:
UK (down 3 percent to 215 million litres. 36 percent share of total export volume)
USA (down 4 percent to 134 million litres. 22 percent share of total export volume)
Canada (up 20 percent to 74 million litres. 12 percent share of total export volume)
New Zealand (down 3 percent to 31 million litres. 5 percent share of total export volume), and
Germany (down 9 percent to 28 million litres. 5 percent share of total export volume).
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