Italy's wine exports are forecast to reach a record eight billion euros in 2022, up twelve per cent on 2021, while agricultural and food exports are expected to grow by 16 per cent to 58 billion euros. This was announced by Federvini, the Italian association of industrial producers, exporters and importers of wine, spirits, syrup and vinegar.
According to Federvini, three factors are responsible for the growth: Firstly, the euro-dollar exchange rate, which made products cheaper in the USA and in markets tied to the US dollar such as Canada. Secondly, the significant increase in tourism worldwide, which has also boosted consumption of Italian wines outside Italy. And thirdly, a diversification of the markets served by Italian wine exporters. Ten years ago, for example, the European Union accounted for almost 57 percent of the export value. This value dropped to 39 percent in 2021, not least due to Brexit. On the other hand, significantly more Italian wine is exported to Asian countries today. Its share is seven per cent. In Vietnam, the value of wine exports increased by 82 percent in the first eight months of 2022, in Thailand even by 158 percent.
Micaela Pallini, president of Federvini, comments these figures as follows: "The data about the development of our exports show how important the diversification of the markets is. This strategy is supported, on the one hand, by promotional activities and, on the other, by greater proactivity on the part of the European Union in concluding more free trade agreements with non-EU countries."
(al / source: winenews.it; photo: Pixabay)