Italian wine exports grow with confidence: +4.1% in value in the first 8 months 2024

Italian wine exports in the first 8 months of 2024 reached 5.17 billion euros, up 4.6% on the same period in 2023 and actually improving on the last monthly figure, referring to July (+4.1%). The figure referring to volumes is also positive, with 1.41 billion liters, almost 3% more than twelve months ago. This is according to Istat data, analyzed by WineNews, demonstrating a sector that, despite the well-known critical issues, continues to maintain a positive sign, and therefore confidence, which is fundamental in view of the future, in a historical period that requires keeping one’s feet firmly planted on the ground, amidst fragile international scenarios and critical issues for the international economy. Once again, the United States is confirmed as the leading market for Italian wine, with values up 7.8% to 1.25 billion euros, demonstrating a solid feeling and a far higher turnover than that generated with other partners. And where we could also see a rush of orders in the last months of the year from operators, to avoid, at least initially, the possible problems that could come from the duties on European products promised by President-elect Donald Trump, in 2025.
Germany, the first continental outlet for Italian wine, is also doing well, one step away from 765 million euros and marking +4.5% in the first 8 months of 2024 over 2023; a growth that, on the other hand, does not accompany Great Britain (-0.3%), which falls to 519.9 million euros. Switzerland also continues its descent among the main markets by value (-3.1%), importing 252.5 million euros and being overtaken by Canada, which confirms its positive trend (+3.6%), rising to 254.3 million euros. Slightly down are France (-1.2%), the world's leading wine power by value, which scores 201.1 million euros, and also Belgium (-1.3), which stops at 140.3 million euros. Good, on the other hand, is the response coming from the Netherlands, which improves by almost 7 percent to 159.2 million euros, as does that of Denmark (+6.4% or 97.2 million euros), and, above all, Austria with a double-digit improvement (+16%) to 104.5 million euros. And then there is Russia, which continues to impress with remarkable performance, +70.1% over the same period 2023, with imports rising to 153.9 million euros, effectively continuing to climb positions among the most important markets.
Looking to the East, however, the situation is chiaroscuro: while China, where many had high hopes, continues to move away from wine, plummeting to 57.1 million euros (-10.4%), Japan climbs the slope (+2.6%) and with 129.4 million euros in value confirms itself as an important country for Italian wine. South Korea (-3.8%) also loses ground, going below the 33 million euro mark.
All in all, one can speak of a positive picture, on the whole, for Italian wine exports, with the U.S., the most important market, continuing to grow, as does Germany, the leader in Europe. And if in the Old Continent, some negative signs have arrived (UK) or continue to arrive (Switzerland, France, Belgium), markets such as Austria and the Netherlands are becoming increasingly interesting, and the continued rise of Russia appears vital and, in perspective, increasingly interesting. Even with due caution, the end of the year bodes well, looking forward to 2025 which could be the one of rebirth, also strong with an appeal that continues not to abandon the Belpaese wine in international scenarios.