Global wine trade contracted in the first half of 2026, though the downturn eased from the sharper drop seen in the first quarter, according to customs data from multiple countries compiled by Trade Data Monitor and analyzed by the Spanish Interprofessional Wine Organization (OIVE).
From January through June, worldwide wine exports totaled 4,289.4 million liters and €15,859.3 million. That is a fall of 8.1% in volume and 5.1% in value from the same period a year earlier, equal to 379.1 million fewer liters and €853 million less than in the first half of 2025. The average export price rose by €0.12 per liter to €3.70.
The decline was broad. By product category, nearly every segment posted lower value and lower volume. The only exception was sparkling wine, which managed a small gain in value while slipping slightly in volume.
Bottled wine leads the drop, sparkling holds up
Bottled wine, the largest category in global trade, led the overall decline. Its exports fell 6.1% in value to €10,626.7 million and 5.3% in volume to 2,242.1 million liters, a loss of €692.3 million and 124.5 million liters.
Sparkling wine was more resilient. Export value edged up 0.5% to €3,753 million, €18.4 million more than a year earlier, while volume slipped 0.6% to 476.5 million liters, nearly 3 million fewer.
Bulk wine recorded one of the steepest falls, with value down 12.3% to €1,100.7 million and volume down 14.5% to 1,378.2 million liters. Bag-in-box wine also weakened, with value down 3% to €334.8 million and volume down 2.4% to 170.6 million liters.
France, Italy and Spain
France remained the world’s largest exporter by value, with sales of €5,411.8 million, down 2.2% (a loss of €119.8 million). Its volume fell 1.5%, or 9.6 million liters.
Italy stayed the largest exporter by volume at 986.4 million liters, down 4%. It also recorded the biggest revenue loss among the main exporters, with earnings falling €238.2 million, or 6.2%.
Spain ranked third by value and second by volume but posted some of the weakest results among major suppliers. Its exports fell 8.2% in value to €1,347.6 million and 16.6% in volume to 848.5 million liters. The 169.2 million liters lost was the largest absolute volume drop among the countries reviewed, driven mainly by bulk wine, which accounted for 127.1 million of those liters. The smaller decline in value than in volume suggests the average price per liter of Spanish exports improved, though not enough to offset the lower quantities.
Together, the three leaders accounted for a combined revenue decline of €479.1 million.
Winners and losers among other exporters
OIVE’s review of 11 major exporting countries showed combined export revenue falling by €754.5 million. Ten of the 11 posted lower earnings.
South Africa was the only country to increase both value (up 5.9%) and volume (up 3.4%). Argentina raised volume by 11.6%, or 9.2 million liters, the largest increase in the group, but its value fell 3.6%, or €8.5 million, pointing to a lower average price.
The United States posted the sharpest percentage drop in value, down 18.9% (€76 million), while volume fell 8.3%. Chile lost €101.7 million, or 15.3%, with volume down 12.9%. New Zealand’s revenue fell €65 million, or 11.7%, with volume down 7%.
Smaller declines were recorded by Australia (value down 1.3%, volume down 6.9%), Germany (value down 0.2%, volume down 1.6%) and Portugal (value down 6.5%, volume down 5.3%, or 7.2 million liters).
Outlook
The first half was marked by weaker trade across most categories and most major suppliers. Bottled wine accounted for the largest share of the value decline, bulk wine drove much of the volume drop, and sparkling wine was the only major category to hold onto value growth. The easing of the decline compared with the first quarter may offer some relief, but second-half data will show whether the trend is stabilizing.
Source: Vinetur