2026-06-30
Spain’s wine and wine-related exports fell sharply in the first four months of 2026, with shipments dropping by 21.2% in volume and 9.5% in value from the same period a year earlier, according to Spanish customs data analyzed by Del Rey AWM.
From January through April, Spain exported 732.56 million liters of wine and viticultural products worth €1.01 billion. The gap between the decline in volume and the smaller drop in revenue points to higher average prices. Export prices rose by nearly 15% from the same period last year, driven by more expensive bulk wine after a short 2025 harvest and by a relatively better performance from higher-value packaged wines compared with cheaper bulk wine and grape must.
The steepest losses came in categories that have long been important for Spain’s export trade by volume. Bulk wine exports fell 25.8% to 304.9 million liters, while their value dropped 18% to €168.1 million. Exports of grape must and grape juice declined even more sharply, down 34% in volume to 142.85 million liters and 19.3% in value to €109.28 million. Liqueur wines also posted heavy losses, with volume down 27.7% and value down 23% to €13.25 million.
Packaged wines held up better, though they also declined. Still wines in bottle or other packaged formats generated €507.84 million, down 5.2%, on volumes of 172.33 million liters, down 6.6%. Sparkling wine exports fell 7.3% in value to €129.61 million and 6.6% in volume to 38.56 million liters. Semi-sparkling wines were one of the few segments to avoid a drop in revenue, edging up 0.7% in value to €9.75 million even as volume slipped 7.2%.
Bag-in-box was the only category to grow in both value and volume during the period. Exports in that format rose 5.2% in value to €29.45 million and 5.7% in volume to 23.12 million liters. For some exporters, it is becoming a partial alternative to bulk shipments in certain markets, with better margins.
Taken together, core wine exports reached €858.01 million, down 8.3%, on volumes of 547.97 million liters, down 18.1%. Other viticultural products, including vermouth, must and vinegar, performed worse overall, with value falling 15.5% to €155.63 million and volume dropping 29.1% to 184.59 million liters.
Within that group, vermouth exports totaled €24.92 million, down 7.1%, with volumes falling 6.1% to 18.71 million liters. Vinegar was more stable than most categories, declining 2.9% in value to €21.43 million and 3.7% in volume to 23.03 million liters.
The market breakdown shows how dependent Spain remains on lower-priced categories for export volume and how exposed those categories are when harvests are short and international demand weakens. Bulk wine remained by far the largest segment by volume despite its decline, while packaged wines continued to lead by value.
By destination, some of the biggest setbacks came from Italy, where sales centered mainly on bulk wine and must fell by nearly half, according to the analysis. Exports also dropped sharply to Ivory Coast and France for bulk wine, while Germany, the United States and Sweden also registered notable declines. Gains in Portugal, Japan, Morocco, Canada, South Korea and the Dominican Republic were not enough to offset those losses.
The figures come at a difficult moment for the global wine trade. International markets have been weakening for three years in both value and volume as consumption falls in many countries and buyers shift toward different styles of alcoholic beverages and different types of wine.
For Spain, that broader slowdown has collided with tighter supply and higher prices at home. The result is a trade pattern marked by fewer liters shipped abroad, somewhat firmer unit values and growing pressure on segments such as bulk wine and must that have traditionally supported large export volumes.
The customs data suggest that Spain’s exporters are relying more heavily on categories with stronger unit prices to cushion the downturn, but that strategy has only partly limited the damage so far this year as demand remains soft across several major foreign markets.