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UIV: Italian exports to the USA down by 6% in 2020, but prospects are rosy

In the near future, economic recovery supported by the American Rescue Plan and the suspension of tariffs will support export recovery
AMERICAN RESCUE PLAN, EXPORT, MARKET, TAXES, UIV, USA, News
Italian Wine in the USA

According to Eurostat data analyzed by Unione Italiana Vini (UIV), 2020 in the USA closed for Italian exports with a drop in value of 6% (to 1.425 billion euros) and a significant decrease in average price (-5%). The losers were sparkling wines in particular, which, after years, interrupted their race in the USA, thanks in particular to Prosecco (-9%). Down also bottled still wines (-6%). An expected trend, but one that does not worry too much, because overseas prospects are decidedly good for the near future, in the wake of economic recovery, supported by the American Rescue Plan, and the change of course in relations with the EU, which will lead to a return to normality and the cancellation of the duties wanted by Trump.
For the secretary general of Unione Italiana Vini (UIV), Paolo Castelletti, “the data is negative, as expected, but what consoles us, more than the growth of market shares to the detriment of France due to the combined effect of the health emergency and additional duties, are the prospects on the horizon in our leading wine demand market. The mutual openings - continues Castelletti - for a resolution of the Boeing-Airbus issue to suspend the cross trade wars and the start of the dialogue on Digital Tax with the possibility of multilateral agreement give hope. Equally important will be the approval at the American Senate of the 1.9 trillion dollar plan for the relaunch of the US economy put in place by the new American presidency. A maneuver - concludes the secretary of the UIV - that could boost the American economy and therefore consumption in the coming years”.
According to UIV, it will be fundamental for the Italian government to encourage the process of relaunching the partnership with the United States through a double commitment: within the EU for the suspension of duties, and at the G20 level, chaired by Italy, to find an agreement on the Digital Tax. At the same time, while waiting for the relaunch of consumption, it will be necessary to invest in the American market through the resources of promotion and the Export Pact. On these two fronts, UIV is waiting for a change of gear, in the first case with the intervention of the Minister of Agricultural Policies, Stefano Patuanelli on the subject of simplification of the measure of the Promotion CMO, in the second with the relaunch of the “Pact for Export” where wine has not yet found its own specific action of the institutional communication plan.

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