Italy Wine Exports Boom in 2024

Italy increased its wine exports during the first half of 2024, reaching 1.0545 billion liters, a 2.6% rise compared to the same period last year. According to Italian customs data, the value of these exports grew by 3.3%, totaling 3.8726 billion euros, with an average price per liter rising slightly by 0.7% to 3.67 euros. Despite maintaining its position as the world's largest exporter by volume, Italy still trails far behind France in revenue.

The boost in Italian wine exports this year was driven by gains in January, February, and April, both in value and volume, and a further increase in volume in May. This marks an improvement from 2023, a year that saw a 0.8% decline in both value and volume. The only category that experienced a decline was wine in Bag-in-box, which fell in both value and volume, while bulk wine decreased in volume but was the only type to see an increase in average price.

Sparkling wine had a strong performance, with a 7% increase in value and an 11% increase in volume. Packaged wine also recorded modest gains, up 2.1% in value and 2.4% in volume. Packaged wine remains Italy's top export in absolute terms, with 598.1 million liters and 2.584 billion euros, making up over 56% of total volume and 66% of the total export value. The average price of packaged wine dropped slightly by 0.2% to 4.32 euros per liter. Sparkling wine is gaining ground as the second most exported category, reaching 252 million liters and 1.0794 billion euros in value. Bulk wine lost volume, down to 1.8 million hectoliters, but increased revenue by 4.7%, reaching 156 million euros. Meanwhile, Bag-in-box exports stood at 22.8 million liters and 53.24 million euros.

Italy exported wine to 175 global markets in the first half of 2024. Germany, a key market for bulk wine, lost ground as the leading destination by volume, falling 1.2% to 251.6 million liters, which is still 74 million liters more than the United States, the second-largest market. The U.S., however, remains the leader in export value, increasing its share by 4.7% to 938.9 million euros, far ahead of Germany's 584 million euros, which rose by 1.1%. This discrepancy is linked to average prices: Germany recorded the lowest among the top ten markets at 2.32 euros per liter, while the U.S. had the third-highest price at 5.28 euros per liter, behind only Switzerland's 5.85 euros and Canada's 5.35 euros. These figures highlight the premium value of Italian wines in North America.

The United Kingdom maintained its position as the third-largest market, importing 120.6 million liters, up 2.3%, and totaling 387.9 million euros, a 2% increase, with an average price steady at 3.21 euros per liter. Switzerland, despite a 5.5% drop in value to 194.1 million euros, held on to fourth place, followed by Canada with 175.2 million euros, a slight 0.2% increase. Russia recorded the highest growth, soaring to fifth place by volume, with a 74% increase to 39.8 million liters, while in terms of value, it ranked eighth, up 80% to 121 million euros. The average price of wine exported to Russia was 3.04 euros per liter, below the overall average.

Italy saw declines in exports to France (down 11% in volume and 6% in value), Switzerland (down 5.5% in value and 3.8% in volume), and Belgium (down 3.8% in value and 6.5% in volume). On the positive side, exports to the Netherlands grew by 6.2% in value and 8.2% in volume, while exports to Austria increased by 20.4% in value and 13.8% in volume. Additionally, sales to Japan showed signs of recovery.