2024 has already been a standout year for Portugal’s wine industry, with strong export figures and strategic agreements aimed at further expansion.
However, the Portuguese government is determined to push these numbers even higher.
José Manuel Fernandes, Portugal’s Minister of Agriculture and Fisheries, highlighted the country’s success in wine exports and reaffirmed ambitions for further growth. In a statement to the Lusa agency, he revealed that Portugal exported 28.6 million litres of wine to Brazil in 2024, generating 85.9 million euros in revenue at an average price of three euros per litre. Compared to 2023, this marks a 10.6% increase in volume, a 7.6% rise in value, but a slight 2.8% decline in the average price per litre.
The minister attributed this export growth to Portugal’s efforts to eliminate trade barriers in collaboration with the Brazilian government. A pivotal moment came at the XIV Luso-Brazilian Summit (February 19-20), where a protocol was signed to enhance cooperation and facilitate the exchange of technical expertise between the two countries. Under the agreement, both nations have 30 days to identify key points of contact to swiftly address and resolve trade obstacles, ensuring the continued expansion of Portuguese wine exports to Brazil.
Portugal’s Strong Export Performance Across Global Markets
According to data obtained by Lusa, Portugal’s total wine exports in 2024 reached 347 million litres, valued at 966 million euros, with an average price of 2.79 euros per litre. Compared to 2023, this represents an 8.7% increase in volume and a 4.5% rise in value, despite a 3.9% drop in the average price per litre.
These overall figures are supported by the performance in two key market segments:
- European Union markets: 9.7% growth in volume, 2.9% growth in value, and a 6.2% drop in average price.
- Non-EU markets (third countries): 7.9% growth in volume, 5.7% growth in value, and a 2.0% decline in average price.
Key Export Destinations
The top five countries for Portuguese wine exports in terms of volume are:
- Angola
- France
- Brazil
- Spain
- United States
When ranked by export value, the leading markets are:
- France
- United States
- Brazil
- United Kingdom
- Netherlands
Together, these five countries account for 44.3% of Portugal’s total wine export value.
Source: The Portugal News