Italian wine exports closed the first quarter of 2022 at 1.7 billion euros (+18.3%)

Italian wine exports closed the first quarter of 2022 on a trend growth rate of 18.3% in value, for a total of 1.7 billion euros. According to the Osservatorio di Unione Italiana Vini (UIV), which elaborated the data that ISTAT released very recently, the increase + is partially attributed to the strong US dollar, but above all to the lockdowns registered on a global scale in the same period in 2021. Plus, it is driven by Italian sparkling wines’ new record. In the first three months of the year, it registered +35.6%, growing more than double compared to still wines (+ 14.8%). The average price also rose (+ 12.2%), during the quarter period in which March was also positive, even though there was a slight slowdown compared to the first 2 months of 2022. All the major demand markets grew, except for Germany and China. However, in March, Russia (-30% in the quarter) and Ukraine dropped 65% ​​and 98% respectively. It is in this context that sparkling wines have taken the lion's share registering positive signs everywhere, starting from its top foreign markets: USA (+ 18%), UK (+ 87%) and Germany (+ 20%). Once again, Prosecco is driving the sector, marking a genuine boom on the global scale (+ 40% in value, + 11.7% average price). Orders are soaring in the UK (+ 93%), Poland (+ 85%) and Canada (+ 76%), and growth is well over 30% in key areas such as Germany, France, Belgium, Japan, the Czech Republic and Norway. “The numbers Italian wine, but also French wine, have achieved, which closed at + 24%, are surprising, especially taking into account the double-digit 2021. It is, however, too early”, Paolo Castelletti, general secretary of the Unione Italiana Vini (UIV), explained, “to see what direction the market will take in the coming months, as the negative economic situation and the escalation of the inflation spiral are more and more afflicting potential demand. Further, adding the increase in costs of dry raw materials, which for companies translates into an average spending surplus of over 30%, it is important to remain cautious and avoid triumphalism that could be refuted in the next few months”.