Export, Italian wine growth recovers speed: +4.1% in value in the first 7 months 2024

Italian wine exports in the first 7 months of 2024 touch 4.6 billion euros, up 4.1% on the same period 2023, and improving on the performance of the first half of the year, when exports grew 3.1%, while keeping in line with the first half of the year, at +2.6% for 1.26 billion hectoliters. It emerges from ISTAT data, analyzed by WineNews, which tell of a small turnaround, after the 2024 turnaround, that bodes well for the future, without too many illusions, even in a very difficult phase for the world economy, between inflation and international conflicts that make no sign of ending.
In any case, the best news comes from the U.S., with values up +7.3%, for €1.12 billion, with the States continuing to be the leading market, by value, for Italian wineries. Germany also remains positive, at 692.8 million euros, making +1.4% in the first 7 months 2024 over 2023, as does the United Kingdom, at 464.4 million euros, for +2.2%. Still, among the main markets by value, Switzerland loses something, at -2.7%, for 228.4 million euros, while Canada grows, albeit slightly, at 210.8 million euros, +2%. Again, looking at the countries of the European bloc, exports drop by -4.6% in France, to 186.4 million euros, and in Belgium, by -2.7% to 126.2 million euros, while they grow in the Netherlands (147.2, +6.4%), Sweden (125.2, +5%), Austria (+18%, to 94.6 million euros) and Denmark (+3.2%, to 87.6 million euros).
But the most powerful and surprising growth is in Russia, which returns among the most important markets by value, with 138.3 million euros, and a recovery of +71.3% over the first 7 months 2023. Looking further East, on the other hand, Japan continues to grow, albeit slightly, at 116.5 million euros (+4.7%), while China loses sharply, at -14.5% for 50 million euros, with a figure that confirms all the economic difficulties of the largest of the Asian countries, and South Korea also falls, at -2.1%, for 31.2 million euros.
An overall positive picture, however, for Italian wine exports, which bodes well for wineries for a positive end of the year, looking forward to a 2025 that, as everyone hopes, will be under the banner of new growth for Italian wine, which is confirmed as one of the most beloved in countries around the world.