Global Wine Exports Fell 7.9% in the First Quarter of 2026

Global wine trade fell sharply in the first quarter of 2026, with exports dropping to 2.09 billion liters and €7.41 billion, according to customs data from multiple countries analyzed by Spain’s Interprofessional Wine Organization, known as OIVE. Compared with the same period a year earlier, that meant a decline of 7.9% in volume and 7.5% in value, or 180.7 million fewer liters and €600.1 million less in sales.

The average export price rose slightly to €3.54 a liter, up by €0.02 from the first quarter of 2025, but that modest increase did not offset weaker trade across all major wine categories. Bottled wine, the largest segment in global trade, posted the biggest losses in absolute terms. Exports of bottled wine fell to €4.94 billion, down 8.5%, while volume slipped to 1.07 billion liters, down 3.5%. That represented a loss of €457.9 million and 38.8 million liters from a year earlier.

Sparkling wine also moved lower, though at a slower pace. Its export value declined 1.4% to €1.71 billion, while volume fell 0.9% to 217.2 million liters. Bulk wine recorded one of the steepest contractions, dropping 15.3% in value to €581.2 million and 15.5% in volume to 720.4 million liters. In absolute terms, bulk wine lost €104.8 million and 132.3 million liters in global trade during the quarter. Bag-in-box wines also declined, with value down 5.3% to €152.8 million and volume down 4.2% to nearly 78 million liters.

Among exporting countries, France remained the world’s leading wine exporter by value in the first quarter, with €2.49 billion in sales despite a 4.1% decline from a year earlier. Italy held its position as the top exporter by volume, shipping 471.5 million liters, also down 4.1%. Spain ranked third worldwide by value and second by volume, but it posted one of the weakest performances among major suppliers.

Spain exported €655.1 million worth of wine in the quarter, down 6.6%, and shipped 424.3 million liters, down 15.6%. That amounted to a loss of €46 million and 78.7 million liters compared with the first quarter of 2025. OIVE said the drop was driven mainly by bulk wine, which accounted for a decline of 67.2 million liters.

Italy also saw a notable reduction in export earnings, with value down by €153.5 million, or 8.3%, from a year earlier. France lost €107.5 million in export value but limited its volume decline to 0.9%, or 2.7 million liters, suggesting greater resilience at higher price points than some competitors.

Outside the three largest exporters, most major suppliers also reported weaker results at the start of the year. Chile’s wine exports fell 10.2% in value and 4.8% in volume. New Zealand posted declines of 17% in value and 12.5% in volume. Australia dropped 16.9% in value and 13% in volume, while Portugal fell 6.8% in value and 11.3% in volume.

The United States recorded one of the steepest declines among leading exporters by value, with sales falling 30% from a year earlier, equal to a loss of €71.9 million. U.S. export volume dropped 17.2%, or 9.9 million liters.

South Africa was the main exception among large suppliers, posting growth in both measures during the quarter. Its export value rose 18% and its export volume increased 10.7%, making it the only major producer listed by OIVE to expand on both fronts during the period.

Germany managed a small gain in export value of 0.4%, or €0.9 million, though its shipment volume edged down 1.3%. Argentina showed the opposite pattern: export volume rose 7.6%, or 2.8 million liters, while export value fell 12.2%, or €15.3 million.

The first-quarter figures point to broad weakness across global wine trade rather than a problem limited to one region or one product type. Every major category lost ground in both value and volume, with bulk wine under particular pressure and bottled wine accounting for the largest share of the overall decline because of its size in international markets.

For Spain, the data underline how exposed exporters remain to swings in lower-priced segments such as bulk shipments, even as the country keeps its place among the world’s largest suppliers by volume and value. For France and Italy, which continue to dominate global rankings, the quarter brought lower sales but preserved their lead positions in their respective categories.

The figures cover only the first three months of the year, but they show that global wine exporters entered 2026 facing weaker demand and lower trade flows across most major producing countries and product segments.