, Australian wine exports: growth and declines in delicate balance

Despite declines in Australian wine exports to North America and Southeast Asia, growth in Europe and Hong Kong has resulted in a “relatively stable period” for the country’s export performance, Wine Australia has said. Australian wine exports declined by 1% in value to $1.88 billion and 2% in volume to 611 million litres in the 12 months to March 2024, according to Wine Australia’s Export Report released today. The organisation described the period as “relatively stable” for Australian wine’s overall export performance in recent times, as declines in some parts of the world were evened out by growth in other regions. Over the past 12 months, growth of Australian wine exports to Hong Kong and Europe have been offset by declines in North America and Southeast Asia. Peter Bailey, Wine Australia manager, market insights, said: “The largest drivers of value growth in the past 12 months were Hong Kong, New Zealand, and the UK, while exports to Canada, the US, Singapore, South Korea, Indonesia, and Malaysia declined.” Asia “Asia was the largest region by value for Australian wine exports, with a 36% value share. Strong growth in Northeast Asia – driven by Hong Kong – was tempered by a decline in the value of exports to Southeast Asia – driven by Singapore, Indonesia, and Malaysia – during the period,” Bailey said. Australian wine exports to Northeast Asia increased by 29% in value to $412 million. Exports to Hong Kong increased by 60% to AU$290m, mainly in red wine above AU$10

This Article was originally published on The Drink Business - Wine

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