NEWS
PORTUGUESE WINE EXPORTS TO CHINA DECLINED 47.7% IN H1 2022
By Susan Lewis
16-8-2022
Source: ViniPortugal
Value of Portuguese wine exports to China declined 47.7 percent in the first half of this year, while wine exports to Japan increased by 21.6 percent, according to latest data released by ViniPortugal.
Overall, the value of total Portuguese wine exports contracted by EUR5.6 million to reach EUR432m in the first half of 2022.
ViniPortugal said the decline is due to the problems confronting global trade at the moment, producers are facing inflated fuel costs, a lack of raw materials and serious supply chain disruptions.
"Wine exports have been falling for a few months, producers registered a lack of raw materials in their production and problems in distribution," said Frederico Falcão, president of ViniPortugal.
"I remember that we were growing at double digits for most of 2021 and also at the start of 2022. As such, we still believe that we can end 2022 with a positive balance," Falcão added.
Among ViniPortugal’s major export markets, Russia is the worst performing, export value to Russia dropped 62.1 percent in the first half, obviously due to the sanctions associated with the war on Ukraine.
Export value to China also declined by a whopping 47.7 percent, to Germany dropped 12.8 percent, and to Sweden decreased by 16.8 percent.
During the period, Portuguese wine exports to the whole of EU fell by 5.1 percent. The value of exports to France, which Portuguese wines’ biggest export market, dropped by EUR0.682m to reach EUR55.76m.
Exports to countries outside of EU saw an an increase of 2.2 percent. Sales to the USA, which is Portuguese wines’ second largest export market, grew by nearly EUR1m to a total of EUR55.71m.
Growths are also seen in exports to Japan, up 21.6 percent, to Canada, increased by 4.1 percent, and to Angola, rose by 55.2 percent.
(the writer can be contacted at: info@thewinechronicle.com)
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