Eurostat: EU Wine Trade Surges 70.5% in March 2024 Amid Mixed Trends

In March 2024, the European Union (EU) experienced dynamic changes in its wine trade, both in exports and imports.

The EU exported 6.0 million hectoliters (mn HL) of wine, marking a 5.7% year-over-year (y.o.y.) decline, yet showing a short-term recovery with a month-over-month increase of 0.16 million hectoliters. Concurrently, the total wine traded volume, encompassing both intra- and extra-trade, soared to 7.6 million hectoliters, a remarkable 70.5% increase y.o.y.

This surge highlights a vibrant and evolving market, though individual member states exhibited varying trends. Italy and the Netherlands recorded extraordinary growth in wine imports, while countries like Belgium, Germany, and Portugal faced declines. Similarly, major wine exporters such as France, Germany, Italy, Portugal, and Spain saw reductions in their export volumes. This article explores the intricate details of these trends, offering insights into the shifting dynamics of the EU wine market.

EU Wine Exports 

In March, the European Union (EU) exported a total of 6.0 million hectoliters (mn HL) of wine to both intra-EU and international markets. This figure represents a 5.7% decline compared to the same month in the previous year, signaling a noticeable year-over-year (y.o.y.) decrease in export volumes. Despite this annual decline, there was a month-over-month increase of 0.16 million hectoliters, suggesting a short-term recovery or seasonal variation in wine exports.

Wine Exports Breakdown by Country:

Here’s a detailed look at the performance and trends among the main wine-exporting countries within the EU: 

1. France: Exported 1.13 million hectoliters, reflecting a 3.9% decrease y.o.y., indicating a slight reduction in export levels compared to the previous year. 
2. Germany: Exported 0.24 million hectoliters, representing a 1.3% decrease y.o.y., showing a minor drop in export volumes. 
3. Italy: Exported 1.84 million hectoliters, showing a 4.5% decrease y.o.y., reflecting a moderate reduction in export levels. 
4. Portugal: Exported 0.28 million hectoliters, marking a 5% decrease y.o.y., indicating a noticeable drop in exports. 
5. Spain: Exported 1.83 million hectoliters, a 4.3% decrease y.o.y., pointing to a significant reduction in exports. 
6. Other EU Countries have exported a combined total of 0.65 million hectoliters or a substantial 16.9% decrease y.o.y., suggesting that smaller or less prominent wine-producing countries within the EU experienced significant export challenges over the past year.

EU Wine Imports

In March 2024, the European Union (EU) engaged in a total trade volume of 7.6 million hectoliters (mn HL) of wine, including transactions both within the union and with external partners. This total marks a remarkable 70.5% increase year-over-year (y.o.y.), indicating a significant expansion in wine trade activity. 

Wine Imports Breakdown by Country:

1. Belgium: 0.35 million hectoliters, a 1.7% decrease y.o.y., indicating a slight reduction in Belgium’s wine imports compared to the previous year.
2. Germany: 1.09 million hectoliters, showing a 1.3% decrease y.o.y., reflecting a minor drop in Germany’s wine imports. 
3. Italy: 0.40 million hectoliters, indicating an astounding 137% increase y.o.y., highlighting a significant surge in Italy’s wine imports.
4. Netherlands: 4.07 million hectoliters, which is an extraordinary 547% increase y.o.y., suggesting a massive influx in wine imports. 
5. Portugal: Absorbed 0.15 million hectoliters, marking a significant 51% decrease y.o.y., indicating a sharp decline in Portugal’s wine imports. 
6. Other EU Countries: A combined total of 1.12 million hectoliters, a 16.2% decrease y.o.y., reflecting a notable reduction in wine imports among these countries.