Spain’s wine exports fell 20.2% after Italy and France cut bulk purchases

Spain’s wine exports fell sharply in the first half of 2026, with shipments down 20.2% in volume and 10.2% in value as weaker bulk wine sales to Italy and France and softer demand in several bottled wine markets weighed on the sector.

Data from Spain’s tax agency, the AEAT, analyzed by Del Rey Analysts of Wine Markets, or AWM, showed exports of wine, grape must and other wine-sector products totaled 11.25 million hectoliters in the six months through June, worth €1.56 billion. The average export price rose 12.6% from a year earlier to €1.39 a liter.

The figures point to a market selling less wine abroad but at higher prices, a pattern AWM linked to lower harvests in recent years, weaker global consumption, slower international trade and large inventories held by many wine-producing countries that also buy Spanish wine.

Bulk wine was the main drag on results. AWM said bulk wine exports fell by 1.25 million hectoliters in the first half, a 21.1% drop that accounted for most of the decline in overall wine exports. Even with prices for bulk wine rising 10.5% to €0.55 a liter, the category still lost €38.9 million in export value, a 13% decline.

Other categories also weakened. Sparkling wine exports fell by 6 million liters and lost €10.7 million in value, down 8.4%. Bottled still wine exports dropped by 27 million liters, while export revenue from that category fell by €57 million, or 6.9%, to €770.6 million. AWM also reported declines in fortified wines and slight losses in semi-sparkling wines. Bag-in-box was the only wine format to show a modest improvement.

The downturn was concentrated in a small number of key foreign markets, especially those that buy Spanish bulk wine. Among Spain’s 20 largest export destinations, only Portugal and Morocco increased purchases in volume during the first half. In value terms, exports also rose to Côte d’Ivoire, the Dominican Republic and Russia, helped in part by higher declared prices.

Italy and France led the retreat. Of the net loss of 284.6 million liters of wine exports in the period, Spain sold 122.8 million fewer liters to Italy and 61 million fewer liters to France. Germany bought 38 million fewer liters. Together, those three markets accounted for nearly 78% of Spain’s total decline in wine export volumes, underlining the sector’s dependence on a few countries that use Spanish bulk wine and whose demand can shift with their own stocks, harvests and export performance.

Problems were not limited to bulk wine. In markets where Spain mainly sells bottled wine, volumes also fell. Shipments to the United States were down 14.9% in volume, while export value there fell 15.4%, a loss of €28 million in the half. Belgium posted a 16.5% drop in volume and China a 15.6% fall. Britain, Japan, Poland and Sweden also recorded smaller declines.

France remained Spain’s largest destination by volume at 214.7 million liters, followed closely by Germany at 211.9 million liters. Portugal ranked third with 81.9 million liters and was one of the few growth markets, up 3.4%. Britain took 72.6 million liters, while Italy, despite the steep drop, still imported 63.4 million liters. U.S. purchases stood at 38.5 million liters.

The impact inside Spain was strongest in regions most exposed to bulk exports. Castile-La Mancha, the country’s leading wine-exporting region by both value and volume, saw export volumes fall 24.3%, equal to 188 million liters, and export value decline 12.4%, or €62.9 million. The region depends heavily on bulk shipments, which made it especially vulnerable to the downturn in Italy, France and Germany.

Murcia and the Valencian Community also suffered large losses. Murcia’s export volume fell 35.5%, while the Valencian Community’s dropped 11.8%. Together with Castile-La Mancha, those two regions accounted for 251 million liters of lost exports, or 88% of Spain’s total decline.

Other regions also posted double-digit falls in volume, including Andalusia, Galicia, Madrid, Navarre and the Basque Country. Extremadura declined more moderately, down 8.2%, which AWM linked to its stronger focus on Portugal, one of the few markets still buying more Spanish wine. Aragón, Castile and León, and La Rioja recorded smaller decreases.

Catalonia was one of the few regions to increase export volume, rising 4.7%, though AWM said that gain came at lower prices. The Balearic and Canary Islands also posted small volume increases, and the Canary Islands were the only region to raise export revenue in the first half.

The report described the downturn as part of a wider international slowdown rather than a Spain-only problem. Many major wine producers are facing lower consumption and weaker trade flows, AWM said, while high inventories in customer countries have reduced the need for imported bulk wine.

Even so, the data showed a few areas of resilience. Sales to Portugal and Morocco held up, and AWM said some Latin American and African markets showed better demand conditions than traditional European buyers. The firm also said export revenue from varietal white wines rose 21% in the first half, while bag-in-box wines continued to gain ground.