VinNatur Genova: wine show announced at Magazzini del Cotone
International markets in decline: Italian wine exports slow in 2024
The first six months of 2024 saw Italian wine exports register a 3.2% increase in value, bringing to the coffers of the Bel Paese as much as 3.9 billion euroswhile volumes reached 10.6 million hectolitres, up 2.4%. However, Behind these numbers lies a slowdown that must be read between the lines.
The data provided by the Uiv-Ismea and Istat Observatory, reported by Pambianconews, tell two different stories: if the first four months of the year recorded significant growth, May pulled the handbrake, scaling down the enthusiasm that until then had accompanied the operators in the sector. In comparison with 2023, exports maintained a positive sign, but the growth rate more than halved compared to that recorded in the first four months of the year, where it was around 6-7% increase.
The decline was partly expected: already in recent months, Uiv had warned that the push from markets such as the Russian Federation and Japan, which alone had contributed 60% of the overall increase in exports, would not be sustainable in the long term. And so it was. The explosive growth linked to these countries is already showing signs of fatigue, and a further deceleration is expected for the rest of 2024.
Looking at the ranking of the main purchasing countries of Italian wine, the situation is far from rosy: Almost all markets saw a decline in imported volumes. The US market is an exceptionwhich holds up with a 2% increase, flanked by the United Kingdom, which marks a +2.3%. For the rest, it is a long list of negative signs: Germany, one of the main outlet markets, recorded a 1.2% decline, while Switzerland lost 3.8% and Canada 1.4%. France, traditionally one of the most feared competitors, even marked a collapse of 10.8%.
#Wine #exports #bring #billion #Italian #coffers #reason #celebrate