Portuguese Wine Exports Target 1 Billion Euros by 2026 Amid Global Market Uncertainty

The Portuguese wine sector is aiming to reach 1 billion euros in exports as early as 2026, according to statements made by Francisco Toscano Rico, president of the Instituto da Vinha e do Vinho (IVV), during a visit to wine producers in the Trás-os-Montes region. Speaking at the Casa do Vinho in Valpaços, Toscano Rico expressed optimism about the future of the industry, despite recent global market uncertainties and geopolitical challenges.

Toscano Rico explained that if current obstacles are overcome, 2026 could be the year when Portugal’s wine exports hit the 1 billion euro mark. This figure would represent about half of the country’s total wine production in terms of volume. He highlighted Portugal’s strong export tradition, with more than 350 million liters of wine shipped abroad each year. The IVV president noted that international markets increasingly recognize the quality and value of Portuguese wines, which are often seen as offering competitive prices compared to other major wine-producing countries.

Frederico Falcão, president of Viniportugal, also addressed the sector’s export goals. He acknowledged that the original target was to reach 1 billion euros in exports by 2023, but this was not achieved. The new goal is now set at 1.2 billion euros by 2030. Falcão pointed to instability and reduced demand from the United States as a significant factor behind the delay. He said that American importers pulled back on orders due to unclear trade rules and tariffs, which affected Portugal’s main export market for wine.

Despite these setbacks, Falcão emphasized that economic sustainability is more important than simply reaching export targets. He said that increasing the average price of Portuguese wine exports remains a priority for the industry. According to Falcão, prices have risen every year, reflecting steady growth in value even as overall volumes fluctuate.

The United States remains one of the largest importers of Portuguese wine, along with Brazil, the United Kingdom and France. However, recent years have seen a general decline in global wine consumption. Portugal has managed to resist this trend better than many other countries, which gives industry leaders hope for continued growth.

Toscano Rico acknowledged that exports to the U.S. suffered a significant drop due to new tariffs and market uncertainty. He said that Portuguese exporters were unable to recover lost ground by the end of 2025. However, he believes that if trade rules stabilize—even with a continuing 15% penalty—conditions will be favorable for renewed growth in 2026.

Both Toscano Rico and Falcão stressed the importance of coordinated efforts across all Portuguese wine regions to strengthen the country’s image abroad. They see growing recognition for Portuguese wines in international markets as a sign of optimism for the future. The sector is now focused on exploring new opportunities and reinforcing its presence in key markets worldwide.