Austrian Wine exports decline in 2024 amid global market challenges

Austrian wine exports experienced a decline in both value and volume in 2024, attributed to global market challenges, according to the Austrian Wine Marketing Board. Data from Statistics Austria revealed that export value dropped by 6% to €233.3 million ($252.4 million), while volumes decreased by 1.7% to 64.2 million liters. The industry cited rising costs, reduced consumer spending, and shifting drinking habits as key factors. Additionally, global economic volatility has made long-term sales strategies difficult.

Germany, Austria's largest wine export market, accounted for 60.2% of total shipments and 42.3% of export revenues. However, exports to Germany saw a 13.6% drop in value to €98.8 million and a 4.4% decline in volume. Despite this, the value remained higher than in 2022, when it reached €94.5 million. The decline was partly due to an increase in bulk wine exports at lower prices, which impacted overall revenue.

Bottled wine exports faced significant challenges, with volume falling by 5.1% and value by 6.3%. Red wines were particularly affected, registering a 12.5% drop in volume and a 14.4% decline in value. In contrast, bulk wine exports rose by 16.1% in volume, though their value decreased by 1.4%.

Switzerland, previously Austria's second-largest market, experienced sharp declines. Export volume to Switzerland fell by 33.1%, and value dropped by 18.2%. A general reduction in Swiss wine imports, especially red wines, contributed to these losses. Meanwhile, the United States overtook Switzerland as Austria's second-largest export destination, accounting for 8.5% of revenues. Exports to the US increased by 6.5% in volume and 6.2% in value.

Other markets showed mixed results. Exports to Canada rose by 15.1% in volume and 12.1% in value. The Nordic monopoly markets, including Norway, Sweden, and Finland, saw a modest increase of 1.9% in both volume and value. On the other hand, exports to the Czech Republic surged by 80.1%, providing a bright spot amid the overall decline.

Chris Yorke, CEO of the Austrian Wine Marketing Board, noted that 2023 had been a strong year, with exports nearing €248 million. However, the shift toward cheaper bulk wine and global economic instability made it difficult to sustain those levels in 2024. The industry continues to face challenges as it navigates these uncertain conditions.