Italy’s wine export market showed a strong performance in the first half of 2024, with both volume and value increases compared to the same period last year. Total exports reached 1.0545 billion liters, marking a 2.6% rise from the previous year. According to Italian customs data, the value of these exports climbed 3.3%, amounting to 3.87 billion euros. The average price per liter also saw a slight uptick of 0.7%, reaching 3.67 euros.
While Italy continues to hold the position of the world’s largest wine exporter by volume, it remains significantly behind France in terms of revenue generation. The increase in exports this year was particularly driven by robust performances in the first few months of 2024, including gains in January, February, and April, and a notable surge in May. This is a positive turnaround after 2023, when Italy experienced a slight decline of 0.8% in both value and volume.
The only category to experience a decline this year was wine in Bag-in-box, which saw decreases in both volume and value. Bulk wine exports also decreased in volume but showed a rise in average price. In contrast, sparkling wine saw a remarkable boost, with a 7% rise in value and an 11% increase in volume. Packaged wine also performed well, up 2.1% in value and 2.4% in volume, remaining Italy’s leading export category by both volume and value.
Packaged wine accounted for 56% of total export volume (598.1 million liters) and 66% of export value (2.58 billion euros), though its average price slightly decreased by 0.2% to 4.32 euros per liter. Sparkling wine, with 252 million liters and 1.08 billion euros in value, continued to gain ground as Italy’s second most exported wine category. Bulk wine exports declined to 1.8 million hectoliters, but its revenue grew by 4.7%, totaling 156 million euros. Bag-in-box wine exports stood at 22.8 million liters, generating 53.24 million euros.
Italy’s wine exports reached 175 global markets in the first half of 2024. Germany, which remains a key market for bulk wine, experienced a slight dip of 1.2% in volume, importing 251.6 million liters. However, it remains the top destination by volume, outpacing the United States, which imported 74 million liters less. Despite this, the U.S. continues to lead Italy’s wine exports in terms of value, with imports rising 4.7% to 938.9 million euros. Germany’s wine import value increased by 1.1% to 584 million euros.
A significant factor behind the differing export values is the price disparity across markets. Germany recorded the lowest price among Italy’s top ten markets at 2.32 euros per liter, while the U.S. had one of the highest at 5.28 euros per liter, following Switzerland (5.85 euros) and Canada (5.35 euros). This indicates that Italian wines command a premium in North America.
The United Kingdom maintained its status as the third-largest market, with a 2.3% increase in volume (120.6 million liters) and a 2% rise in value (387.9 million euros). Despite a 5.5% drop in value, Switzerland held on to fourth place, while Canada saw a slight increase of 0.2% to 175.2 million euros. Russia recorded the highest growth among the top markets, with a dramatic 74% rise in volume to 39.8 million liters and an 80% increase in value to 121 million euros, though its average price of 3.04 euros per liter remained below the overall average.
While exports to countries like France, Switzerland, and Belgium showed declines, Italy saw positive growth in markets such as the Netherlands and Austria, with the latter recording a 20.4% increase in value and 13.8% in volume. Exports to Japan also showed signs of recovery after previous declines.
Overall, Italy’s wine export sector demonstrated resilience in the first half of 2024, benefiting from growing demand for premium wines, particularly sparkling and packaged varieties, despite some challenges in certain European markets.
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