Global trends challenging, exports down in 2023: Wine Australia
Exports were down 2 per cent by value to $1.9 billion and 3 per cent by volume to 607 million litres in the last calendar year, Wine Australia’s Australian Wine Export Report shows.
The export figures, published by the federal agency on Wednesday, show an improvement versus the September quarter’s export report, though figures remain “well below long-term averages.”
(The report can be accessed here.)
Europe and North America – down by 7 per cent and 12 per cent by value – drove the overall slump, said Wine Australia Manager of Market Insights, Peter Bailey.
“In Europe, exports to the top 15 markets declined in value as the region suffers through higher inflation rates than North America and Asia, as well as supply chain issues,” he said.
“This includes the United Kingdom (UK), Australia’s largest export market by volume. Pleasingly, Australia’s exports to the UK grew in volume for the first time since mid-2021.
“Both the United States (US) and Canada contributed to North America’s decline in value. In 2023, packaged shipments to these markets continued their decline and unpackaged shipments, which were growing strongly, have started to ease off.”
By value, the top five markets were the US (down 7 per cent to $364 million), UK (down 3 per cent to $361 million), Hong Kong (up 74 per cent to $290 million), Canada (down 24 per cent to $143 million, and Singapore (up 1 per cent to $133 million.)
Picture: credit Wine Australia
The decline in Australia’s exports comes at a time when most wine producing countries are reporting decreasing sales, Wine Australia noted, with the global alcohol market softening and impacting the entire wine category, especially in mature markets.
The trend has been blamed on factors including global economic tightening, and therefore lower discretionary spending, and consumers being more conscious of their health.
Further reading
Wine production hits 15 year low – Wine Australia
More in this section
@aumanufacturing Sections
Analysis and Commentary Awards Defence Manufacturing News Podcast Technology Videos