NEWS
CHILEAN WINE EXPORTS TO CHINA DECLINED 40% IN H1 2023
By Tony Zhu
1-12-2023
Source: Wines of Chile
Chile’s wine marketing board, Wines of Chile, reported a 40 percent decrease in wine exports to China in the first half of 2023.
“In this period, all ten of our main consuming markets have experienced declines in wine exports: China, which continues to be our foremost destination in terms of value, has seen volume and value reductions of 40 percent and 37 percent, respectively,” said Wines of Chile.
Alongside China, the markets that witnessed the most decline were the United Kingdom, Japan, Canada, the Netherlands, South Korea and Mexico.
As a whole, Chile’s wine exports to the world decreased 24 percent in both volume and value in the first half, reaching 20 million boxes and USD584 million.
In June alone, exports of bottled wine recorded a contraction of 33 percent by volume and 32 percent by value compared to the previous year, with 3.8m boxes worth USD115m being shipped.
Wines of Chile pointed out that Brazil, the top market by volume and second biggest market by value, has proved to be more resilient.
Wines of Chile attributed the poor performance to the costs of living crisis and high inflation which resulted in serious wine glut in many of its major export markets.
Chile is the fourth-largest wine exporter in the world, trailing only Italy, Spain and France.
(the writer can be contacted at: info@thewinechronicle.com)
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