The coronavirus pandemic is affecting wine trade globally, but the impact varies from country to country. Italian wine exports will drop by -4.6% in value (6.1 billion euros) compared to the previous year, the effects this year will be limited compared to the global trend (-10.5%) and even more to the main player in the sector, France, which will lose up 17.9% of its exports. All this according to data from the Vinitaly Observatory – Nomisma Wine Monitor, presented during a recent event attended by the top management of the representative associations and the Italian Trade Agency.
Click here to discover the authentic Italian red & rosé wines on Italianfood.net platform
The drop in value of world wine imports is estimated to be over 3 billion euros compared to 2019, mainly due to the loss of over 1.7 billion euros in sales of France. The forecast for Italy, on the other hand, stands at -300 million euros also due to the exports boom (+15%) in the first two months of the year.
Click here to discover the authentic Italian white wines on Italianfood.net platform
ITALIAN WINE EXPORTS FORECASTS
According to forecasts, Italy will be able to contain losses and significantly increase market shares in its two key markets – the United States (-2% estimated drop in value, equal to 1.7 billion euros), and Germany (-3%, 918 billion). Such a result would be a half victory considering the general drop in U.S. wine imports (-10.1%, and -23% for French wines) and in Germany’s (-7.7%).
A significant stop on the other hand in the United Kingdom, increasingly farther away from European supplies. Producers in Italy and France will lose respectively 12.1% and 16.7%.
The drop in sales continues in the Chinese market (-32% for Italian wines, -29% average) as well as in Japan which will turn negative (-15.1%) after the imports boom in 2019. Something similar is expected to happen in Canada (-7.7%), in Australia (-3.8%), and in Russia (-7.5%). The Italian wines’ performance is generally better compared to competitors thanks to some important markets such as Switzerland (+4.3%), and Sweden (+2.2%).
