Italian wine entered 2025 on the back of a historic achievement. In 2024, exports reached an all-time record of EUR 8.1 billion, confirming Italy’s global leadership in wine trade. Yet the momentum has weakened.
According to data from ISTAT, analyzed by WineNews and updated to November 2025, Italian wine exports are showing a clear downward trend compared to the first eleven months of 2024.
A Widening Gap in Value and Volume
From January to November 2025, exports totaled EUR 7.2 billion, marking a -3.58% decline in value compared to the same period in 2024 (a sharper drop than October’s -2.7%). Volumes also slipped by -2%, reaching 1.95 billion liters.
While these figures do not suggest a collapse, they indicate structural pressure in key markets. The challenge is not only about fewer liters shipped, but about softer value performance in strategic destinations.
The United States: A Strategic Market Under Pressure
The most striking data concerns the United States, historically the indispensable partner for Italian wine exports.
- Value: EUR 1.62 billion (-8%)
- Volume: 312.2 million liters (-5.7%)
In October 2025 alone, the US recorded a -5.6% drop in value and -3.2% in volume compared to October 2024, confirming that November shipments were particularly weak. Tariffs and the euro–dollar exchange rate have clearly weighed on performance, squeezing margins and affecting competitiveness.
Excluding August, November represents the worst monthly value performance of the year. A strong rebound in December appears unlikely, suggesting that 2025 will close with significant underperformance in Italy’s largest non-European market.
Germany Holds Ground, the UK Slips
Within Europe, Germany confirms its role as Italy’s leading European partner in value and the overall number one in volume:
- EUR 1 billion (+0.8% in value)
- 442.6 million liters (-3.1% in volume)
Although still in positive territory in value, growth has slowed compared to previous months.
The United Kingdom, meanwhile, continues its decline:
- EUR 770.1 million (-4.2% in value)
- 240.7 million liters (-2.4% in volume)
The British market remains strategic, but economic pressure and changing consumption patterns are clearly affecting demand.
Mixed Signals Across Secondary Markets
In North America, Canada, after a promising start fueled by weaker US purchases of American wines, is progressively reducing Italian imports. November data shows EUR 384.6 million (-6.9%).
Switzerland follows at EUR 356.6 million (-5.4%), unable to reverse its negative trajectory.
By contrast, France shows stability and modest growth:
- EUR 291.2 million (+4.2%)
The result is partly supported by demand for sparkling wines, particularly Prosecco, even if the segment has faced its own fluctuations globally.
The Netherlands performs well at EUR 239.2 million (+5.8%), while neighboring Belgium declines to EUR 203.6 million (-5.1%).
In Scandinavia, Sweden stands out positively at EUR 175.2 million (+4.5%).
Asia and Eastern Markets: Persistent Weakness
In Asia, the picture remains challenging.
- Japan: EUR 161.7 million (-4.8%)
- China: EUR 60 million (-26%)
China’s sharp contraction underscores ongoing structural challenges and shifting consumer dynamics.
South Korea remains close to 2024 levels at EUR 44.8 million (-1.5%), while Australia posts EUR 65.2 million (-1.6%).
In Eastern Europe, Russia records one of the steepest declines:
- EUR 189.8 million (-18.3%)
Although November showed a recovery compared to October, the overall contraction is substantial.
Closer to home, Austria also declines (-9%) to EUR 136.8 million.
In emerging markets, Brazil shows modest growth at EUR 39 million (+1.8%), while India remains marginal at EUR 2.4 million (+3.7%), pending potential changes from new EU trade agreements.
Structural Challenges Heading into 2026
Italian wine exports are not collapsing. The sector remains robust and globally diversified. However, 2025 has clearly introduced greater uncertainty.
Three structural pressures stand out:
- Currency and tariff dynamics, especially in the US.
- High cellar inventories, reflecting slower global absorption.
- Changing consumption patterns, particularly among younger cohorts.
The world of wine is entering 2026 with elevated stock levels and a more cautious global trade environment. Demand is evolving, premiumization faces resistance in some markets, and price sensitivity is increasing.
The record of 2024 remains a testament to Italy’s export strength. Yet 2025 reminds the industry that global leadership requires constant adaptation — to macroeconomic forces, geopolitical shifts, and evolving consumer behavior.
Italian wine continues to navigate complexity rather than crisis. The coming year will test the sector’s flexibility, strategic positioning, and ability to innovate in a more fragmented global market.
Source: WineNews