Chilean wine exports suffer a severe decline: China and UK are the worst examples
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According to Wines of Chile, Chile’s wine exports in 2023 saw “unprecedented decreases”, totalling 584 million dollars and 20 million boxes. This represents a 24 per cent drop in volume as well as value when compared with the same time last year.
The report noted that “all 10 of our major consuming markets experienced a decline in our wine exports in this period. China, our top destination by value, saw volume and value decreases of 40 and 37 per cent, respectively.”
The United Kingdom, Japan, Canada, the Netherlands, the Republic of Korea and Mexico were all markets where imports decreased the most, along with China. Wines of Chile noted that Brazil was the top destination for volume but the second in value.
Chile ranks fourth in the world for wine exports, behind countries like France, Spain and Italy. Exports of wine bottles fell in June compared with the same month last year. 3.8 million cases were shipped for a total value of US$115 million. The report states that this represents a 33% reduction in both volume and value.
Wines of Chile attributes this current state of affairs to declining international wine markets and stock accumulation.
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