Eurostat, a Directorate-General of the European Commission, has released its preliminary figures on wine exports from eight European producing countries.
Tracking shipments to Canada, China, US and UK during the first nine months of the year, Eurostat’s figures suggest that the thirst for imported labels in China is waning, comparing exports to the same period in 2023.
According to Eurostat's data, imports of Greek wines to the Chinese mainland fell by 76% in value between 2024 and 2023, while shipments of Hungarian, Portuguese and French products declined by 55%, 22% and 13 % respectively.
Yet results from the US market were more positive: Italian exports increased 8% YoY, just pipped to the post by Germany, which saw a 9% rise.
However, the looming threat of 'Trump tariffs' following the US election result may lead to a US/EU trade war, an eventuality that would surely harm EU producers attempting to tap this lucrative but complex three-tier market.
Meanwhile, there were also noticeable declines in exports to the UK, with shipments of Austrian wine falling 31% YoY.
In addition, exports of Portuguese and French labels fell by 21% and 9% respectively.
Of the eight countries surveyed, only Italy and Germany remained stable at 0% growth in UK value.
According to the IWSR, wine consumption has been in decline in its traditional continental European markets for decades, with a growing moderation trend and rising competition from other categories cited as two major causes.