Wine
Australia
Executive summary
·Total value of Australian wine exports declined by 2 per cent to $1.90 billion.
·Total volume declined by 3 per cent to 607 milion litres.
· While these levels of exports are still well below long-term averages,the December 2023quarter saw an increase compared to 2022.Value grew by 23 per cent and volume by 2 percent during the period.
· Hong Kong showed the strongest value growth in the 12 months to December 2023,with solidgrowth also to Singapore and New Zealand.In addition,the United Kingdom,Thailand andMalaysia showed good growth in the December quarter.
· Total export value in the December quarter was S600 milion,the first time since 2020 that aquarter has reached that level.
·The volume of exports to the United Kingdom,Canada and Hong Kong grew during the 12-month period,while Denmark and Japan saw volume increases in the December quarter.
Overview
In the 12 months to December 2023,Australian wine exports declined by 2 per cent in value to $1.90bilion’and 3 per cent in volume to 607 million litres.While these levels of exports are still well belowlong-term averages,this is an increase from the $1.8 billion published in the September 2023 ExportReport.
Total export value in the December quarter was $600 million (see Figure 1),a 23 per cent increasecompared to the same quarter in 2022 and the highest quarterly value since December 2020.Volumeincreased by 2 per cent to 162 million litres for the quarter (see Figure 2).As volume and value movedsimilarly over the 12 months to December 2023,average value of exports stayed level at $3.13 peritre free on board (FOB)².
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