Spanish wine exports reached their highest ever level during the first half of the year, valued at €1.32 billion, up 6% on the year before.
Despite selling less wine by volume (down 0.7%), figures released by the Spanish Observatory of the Wine Market show that higher average prices (up 6.7%) have boosted the value of exports.
The positive figures are thanks to a rise in bottled wine exports of 5% and a 24% increase in sparkling wine and cavas, meaning the total value of the county’s wine exports was up €75 million.
White bottled wine exports posted the highest growth compared to 2016, up 9.3%. Meanwhile red and rosé increased by 3.8%.
The positive figures are thanks to strong demand in China, which imported Spanish wine valued at €21 million, up 28.%. Imports to Canada were up 23.6% and to Portugal 21%.
The three strongest markets of Germany, the US and France grew at slower rates (3.9%, 4.7% and 5.7% respectively). The observatory said that Brexit had an effect on exports to the UK, which went down by 3.2% in value, but up 0.4% in terms of volume.
In a statement, the Spanish Observatory of the Wine Market said: “The data shows that the higher value of Spanish wine exports is as a result of stable production, an improved adaptation to the requirements of markets, continued progression of bottled wines, distribution improvements, market diversification and the progressive transformation from bulk wine towards quality products with higher prices.”
Figures released earlier this summer showed that Spain’s food and beverage industry had its best ever year in 2016, breaking production, export and employment records.
The food and drinks industry now represents 11% of the country’s total goods exports, with a value of €27 billion.
© FoodBev Media Ltd 2018