The Limited Times

Now you can see non-English news...

French wine exports down sharply in 2020

2021-03-25T18:05:26.454Z


The Covid-19 crisis has led many countries to close bars and restaurants at various times of the year, which has had a significant impact on French wine exports.


French wine exports fell sharply in 2020, falling by 11% in value to 8.74 billion euros, under the cumulative effect of "

Trump taxes

", Brexit and the Covid-19 pandemic , noted Thursday the public body FranceAgriMer.

In volume, sales of French wines abroad also fell, by nearly 5%, to 13.6 million hectoliters.

Read also: The export market for great Bordeaux wines in five infographics

Even before the Covid-19, the year 2020 had started in a "

difficult context

" due to a Brexit effect which led to the constitution of stocks in 2019 in the United Kingdom with the prospect of the exit of this country from the 'European Union as of January 31, 2020, explained Audrey Laurent, in charge of economic studies at FranceAgriMer, during a videoconference.

Added to this were the heavy US customs taxes on European wines imposed from October 2019 by the Trump administration due to a long-standing and still unresolved trade dispute over public aid to Airbus and Boeing.

The Biden administration decided in early March to suspend these taxes for four months, much to the relief of the French wine industry.

Closure of the bars and restaurants in question

In 2020, the Covid-19 crisis, which led many countries to impose health restrictions, including the closure of bars and restaurants at various times of the year, had a significant impact on French wine exports, which are well positioned in this distribution channel.

Spared by Trump taxes, champagne, a festive wine, was particularly affected by the health context.

Its exports collapsed by 20% in value and 17% in volume.

Trade surplus of € 8 billion

Exports of PDO (Protected Designation of Origin) wines also suffered, posting a drop of 8% in value but only 1% in volume.

For their part, imports of foreign wines into France also fell by 11% in value, to 710 million euros.

They are down 13% in volume to 6.31 million hectoliters in 2020.

In total, the French trade surplus on wine amounted to 8 billion euros in 2020.

Source: lefigaro

All news articles on 2021-03-25

You may like

Business 2024-02-13T11:59:36.904Z
News/Politics 2024-03-14T06:43:17.674Z

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.