Wine exports from the European Union to key Asian markets declined in 2024, with mainland China, Hong Kong, Japan, and South Korea recording significant drops, according to our analysis based on data released by Eurostat, the statistical office of the European Union.
However, Thailand stood out as a rare growth market, buoyed by recent tax reforms.
Mainland China: Double-digit decline
From January to October 2024, EU wine exports to mainland China totaled €456 million, a 12.48% decrease compared to the same period in 2023. Despite China lifting its COVID-19 restrictions in late 2022, the pandemic’s lingering impact on consumer behavior remains evident.
EU wine exports to China during this period amounted to just 64.74% of the €705 million exported in the same period in 2019, highlighting the slow recovery of the market.
France, the largest EU wine exporter to China, accounted for €300 million, representing 65.88% of the total exports to the country. However, this figure marked a 13.57% year-on-year decline.
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