Aussie Wine Exports Boom in 2024

According to data from Australian Customs, Australia increased the volume of wine exports by 5.3% in the first half of 2024, reaching 313.2 million liters. The increase in value was significantly higher at 30.8%, totaling 1.243 billion Australian dollars (818.4 million USD), as the average price per liter rose by 24% to 3.97 AUD (2.62 USD), up 77 cents. This growth in Australian wine exports can be largely attributed to the rebound in the Chinese market. Exports to China increased by 30.8 million liters, generating an additional 374.6 million Australian dollars (247.2 million USD) in revenue. This recovery follows the removal of Chinese tariffs on Australian wine imports in March 2024, which had been in place since late 2020.

Bottled wine has emerged as the most valuable export category, growing by 43% to 965.9 million dollars (637.5 million USD), far outpacing bulk wine, which rose just 3.7% to 224.6 million dollars (148.2 million USD). In terms of volume, however, bulk wine remains dominant at 190.8 million liters, a 2.8% increase. Bottled wine followed with 106.3 million liters, showing a 16% rise. The price of bottled wine increased by 23.5% to 9.09 AUD (6.00 USD) per liter, significantly higher than bulk wine, which saw a modest price increase of 0.9% to 1.18 AUD (0.78 USD) per liter. Meanwhile, bag-in-box wines experienced sharp declines of around 30%, with sales down to 10.6 million liters and 13.8 million dollars (9.1 million USD) in value. Sparkling wine exports grew by 15.8% in volume to 5.5 million liters but dropped by 0.9% in value to 38.9 million dollars (25.7 million USD), as the average price fell 14% to 7.09 AUD (4.68 USD) per liter.

Australia exported wine to 104 markets globally during the first six months of 2024. China played a crucial role in this growth, with dramatic increases in both volume and value following the tariff removal. Exports to China surged from 0.5 million liters and 5.3 million dollars (3.5 million USD) in the first half of 2023 to 31.2 million liters and 379.9 million dollars (250.7 million USD) in 2024. China has now regained its top position in value and moved to fourth place in volume, with the average price increasing 8% to 12.17 AUD (8.03 USD) per liter, well above the global average.

The United Kingdom remains the leading destination for Australian wine in terms of volume, with 106.8 million liters, despite a 1.3% decline. The United States follows with 52.3 million liters, marking a significant drop of 16%. In terms of value, the UK saw a 2.4% decrease to 185.6 million dollars (122.5 million USD), now second only to China. The United States ranks third in value, at 177.8 million dollars (117.3 million USD), down 1.3%. Hong Kong also stands out, holding the fourth spot with over 100 million dollars in value (66 million USD), despite a 20% decline. The UK shows the lowest price among the top ten markets at 1.74 AUD (1.15 USD) per liter, alongside the Netherlands (2.08 AUD or 1.37 USD) and Canada (2.15 AUD or 1.42 USD), as bulk wine makes up 87% of the volume shipped to the UK and 37% to the United States. Conversely, Hong Kong, a market focused on high-end wines, recorded an average price of 20.34 AUD (13.42 USD) per liter. Other notable markets include Belgium, which saw a strong increase of 57% in volume and 30% in value, while significant declines were observed in Singapore (down 51% in value and 30% in volume) and the Netherlands (down 20% in value and 28% in volume).