|
|
Exports from the EU to China have significantly decreased in the first nine months of 2024. This was announced by the EU's statistical office. According to Eurostat, the exports of Greek wines to mainland China fell by 76 percent in value from 2023 to 2024. Exports from Hungary decreased by 55 percent, from Portugal by 22 percent, and from France by 13 percent.
Particularly significant declines were recorded for classified Bordeaux Grand Crus, whose shipments to Hong Kong and China fell from 300 million euros to a new low of 240 million euros between July 2023 and July 2024. Hong Kong received wines worth 140 million euros. Global Bordeaux Grand Cru exports decreased by 16 percent year-on-year. Only three of the 15 largest markets – Thailand, the United Arab Emirates, and Taiwan – were able to register increases. In Thailand, import duties were abolished and consumption taxes were lowered during this period. In the record years of 2021 and 2022, classified Bordeaux worth around 1.4 billion euros were exported worldwide.
There were also declines in exports to the UK. Austria lost 31 percent, Portugal 21 percent, and France nine percent. Italy and Germany were able to maintain their export values to the UK.
Results were more positive in the USA: Italian exports increased by eight percent year-on-year, narrowly surpassed by Germany, which recorded a nine percent increase.
(al / Source: harpers.co.uk, vino-joy.com)