Wine imports into China continue to decline in 2023, recording a decrease of 20% compared to 2022;
data which makes this market slip by value at a global level to ninth place from fourth in 2018. A negative trend which has also affected countries such as South Korea and Japan, important destinations in the Far East for Made in Italy products.
This is highlighted by the Nomisma Wine Monitor report, the observatory dedicated to the Far East.
France confirms itself as China's first commercial partner, with almost 60% of the market share, followed by Chile and Italy which is on the third step of the ranking with 10%.
Australia, leader in 2020, continues to remain excluded from the ranking following the heavy duties imposed by China in recent years which should end as early as this year.
Overall, all of China's top 5 trading partner countries are declining in terms of export value, with the exception of the USA.
As regards South Korea, after five years of growth, in 2023 the market has a setback both in value and volume compared to the previous year.
Despite a significant decline, also in this case France confirms itself as the country's leading commercial partner, followed in order by the United States, Italy (with a 13% share), Chile and Spain.
Imports also decreasing in Japan in 2023, where France leads with a market share of 60%, followed by Italy with 12%, in line with 2022.
"In the Asian context of wine consumption - underlines Denis Pantini, head of Nomisma Wine Monitor - China continues to lose positions, while Japan and South Korea should maintain significant growth potential and interest in Italian wines".
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