Despite the economic difficulties, Italian wine and spirits companies have recorded significant growth in exports. Federvini represents 2300 companies with a turnover of 21 billion euros, of which 10 billion come from exports. Pallini underlined the importance of the sector for the national economy, with a contribution of 19% to agri-food exports.
Exports in 20 Years: Remarkable Growth
Data from the Federvini Observatory, in collaboration with Nomisma and Tradelab, show that Italian exports of wines and spirits have grown significantly over the last 20 years. Wine exports increased from 17% in 2003 to 22% in 2023, putting Italy in second place after France. Italian spirits went from 7th to 5th place in the world, with 35% of turnover achieved on the foreign market.
Performance of the Internal Market
On the domestic market, Tradelab data indicates 7% growth for bubbles in 2023, while the wine sector recorded growth of 0.2%. Bitters and after-meals saw a 6% decline, particularly in nightclubs, with an exception for high-end restaurants. Bruna Boroni of Tradelab highlighted that 39% of Italians choose wine for lunch, 42% for dinner and 11% for the evening aperitif.
Wine stocks: Under 50 million hectolitres
Italian wine inventories fell below 50 million hectoliters as of April 30, with a decrease of 6.2% compared to March and 11.8% compared to the previous year. This reduction is attributed to a poor collection in 2023. The majority of stocks are held in the regions of Northern Italy, with Veneto leading the way.
Future prospects and challenges
The Federvini General Assembly discussed future challenges, including the upcoming European elections and the presidential elections in the United States. President Pallini underlined the importance of clear rules to guarantee fair competition on international markets and counter prohibitionist tendencies. He also highlighted the need for free trade agreements to support exports.
Wine imports in 2024
In the first quarter of 2024, global wine imports saw a decline of 8.7% by value, but Italian wine showed a better performance with a decline of 0.9%. Italian sparkling wines recorded growth of 4.9% in value and 3.4% in volume, with positive performances in key markets such as the United Kingdom, France, Canada, Australia and China.
Conclusion
Despite economic difficulties and geopolitical challenges, the wine and spirits sector in Italy continues to demonstrate resilience and ability to adapt. The growth of exports, the effective management of inventories and the attention to consumption trends confirm the fundamental role of this sector in the national economy.
