Italian wine, exports at +9.5% in value and +8.2% in volume in first 2 months 2024 (on 2023)

It remains clearly in the positive, at least in the first two months of 2024, the performance of Italian wine exports, which, globally, touched 1.14 billion euros, at +9.5% over the same period 2023, for 297.6 million liters, at +8.2%. Although, it must be said, it denotes a major slowdown on January’s super start, with double-digit growth. In any case, all the most important markets, both in North America and Europe, as well as in the East, are showing important signs of awakening, at least on the orders front, which are perhaps being brought forward to the past, especially to certain markets, due to the continuation of the Suez Canal crisis, which not only increases the cost of shipments, but also lengthens their time.
In any case, from Istat data updated today and analyzed by WineNews, the United States, at +5.9%, for €278.5 million, is on positive ground, as is Germany, at +3%, for €174.8 million, and especially the United Kingdom, which continues to grow by more than +20%, for €108.8 million. One of the very few and restrained negative signals comes from Switzerland, at -2.8%, with 58.8 million euros of Italian wine imported in the first two months of 2024, while Canada grows sharply, at +13.1%, for 54.3 million euros. Russia is impressive, at +120%, for 47 million euros, outpacing France, although up 4%, at 40.4 million euros. The Netherlands did very well, at +15.5%, for 37.1 million euros, and Belgium, at +2.7%, for 35.2 million euros, also stayed in positive ground. Looking at Northern Europe, it leaves something on the ground in Sweden, at -1.8% to +€30.3 million. In the East, Japan continues to grow robustly, at +11% for 28.7 million euros, and China continues to show positive signs, at +43% for 12.8 million euros, although the country of the Dragon, over the years, has accustomed operators to strong accelerations as well as abrupt braking.
It is too early, of course, to say whether the Italian wine market in the world has really returned to growth, or whether these very positive figures are more related to a strategy seen time and time again during the years of economic crisis first and Covid later, with operators led to stock up to avoid further price increases or delays that would penalize the market. But, in any case, positive signs that allow us to look to the future of the sector with a bit more serenity about the recent past.