Argentina’s Wine Exports Fall to $661 Million in 2025, Lowest Value Since 2009

Argentina’s wine industry closed 2025 with its lowest export figures in more than 15 years, according to data released by the National Institute of Viticulture (INV). The country exported $661 million worth of wine, a 7.2% drop compared to 2024, and shipped 1.9 million hectoliters, down 6.8% from the previous year. These numbers mark the lowest value since 2009 and the lowest volume since 2004.

The INV’s latest report shows that December 2025 saw a slight improvement in some areas, with a 10.8% increase in bottled wine exports. However, this was not enough to offset a sharp 29.5% decline in bulk wine shipments. In terms of value, Argentine wine exports generated $57 million in December, up 3.9% from December 2024.

Despite these small gains, the annual results remain far from Argentina’s best years. The country’s record for wine export value was set in 2012 at $921 million, with another strong year in 2021 at $897 million. In terms of volume, the peak was in 2020 with 3.9 million hectoliters exported. The average price per liter also slipped slightly in 2025, from $3.44 to $3.42.

Industry experts point to a challenging global environment as a key factor behind the decline. Ramiro Barrios, who leads exports at Bodegas de Argentina (BdA), noted that while December’s growth helped slow the year’s overall decline, it was not enough to reverse the trend. Barrios explained that difficulties selling wine are not unique to Argentina; producers in the United States, Bordeaux, and Australia are facing similar challenges.

Barrios identified falling consumption in major markets as a primary cause. “The two big engines for wine consumption over the last decade have been the United States and China,” he said. “Now those engines have lost momentum.” In China, demand has been dropping since austerity measures were introduced in 2017 and worsened after the pandemic. In the U.S., inflation and higher interest rates have dampened spending on alcohol, and recent economic uncertainty has further affected consumer habits.

Barrios added that while there are more wine consumers globally, they are buying less frequently and in smaller quantities. This trend is reflected in Argentina’s export numbers.

Daniel Rada, director of the Argentine Wine Observatory (OVA), said that Argentine wine has not recovered from a steep drop in exports that began in 2023, especially for bottled wines. Until 2022, Argentina exported around 200 million liters of bottled wine annually—a figure that has now fallen by about a quarter to roughly 150 million liters.

Rada observed that as volumes fell, exporters raised prices in dollars to compensate. However, this strategy may have backfired by making Argentine wines less competitive internationally at a time when price is crucial for buyers.

Despite these difficulties, there were some positive developments in specific markets. Barrios highlighted Canada as an area of growth for Argentine wines, partly due to trade tensions between Canada and the U.S., which led some Canadian retailers to reduce or remove American wines from their shelves. Argentina was able to fill some of that gap. There were also gains in Colombia and Russia, though sales declined in the United Kingdom.

Looking ahead, both Barrios and Rada expect continued challenges for Argentine wine exports in 2026. Barrios said wineries will need to work harder to maintain their positions abroad, especially in the U.S., by improving efficiency both internally and for consumers.

Rada cautioned against expecting a quick recovery and noted that while higher prices may soften the impact of lower volumes on revenue figures, the overall result for the sector remains negative. He stressed that greater predictability is needed for exporters and pointed out that while inflation is now more stable in Argentina, exchange rates remain unfavorable for exports.

Bulk wine could present an opportunity if poor harvests continue elsewhere—such as Spain—but current export volumes are low compared to global leaders like Spain, which can sell bulk wine at much lower prices due to lower logistics costs.

Industry leaders agree that long-term opportunities may come from new trade agreements with major partners like the European Union or the United States. However, any benefits from such deals would take time to materialize and would not provide immediate relief for Argentina’s struggling wine sector.

Online sales of Argentine wine have increased but still represent only a small part of total exports and require further development by producers looking for new ways to reach international consumers.

As Argentina enters another year facing global headwinds and domestic economic pressures, its winemakers are bracing for what many expect will be another difficult period for exports and growth abroad.