No. 1 Australia
Import value: US$414.5 million
Import volume: 74 million litres
As expected, Australia has surpassed France as China’s biggest wine importer by value, as tariffs on Australian wine has now reduced to zero, thanks to the two country’s Free Trade Agreement.
The country’s wine exports to China remained more or less the same in terms of value (down 0.59%) at US$414.5 million, while its volume dropped 17.34% to 74 million litres.
As CAWS describse it, “Australia has consolidated its leading position in China” with a widening market share of close to 34%.
It’s worthy to note as previously underlined by Wine Australia, there’s a premiumisation in Australian wine exports. This is affirmed in CAWS data where it showed per litre price rose 20.26% to US$5.6.
With the country’s government stimulus package for promoting wine exports, Australia is expected to maintain its lead in China despite slower growth rate.
Compared with Chile, Argentina, South Africa, Australian wine exports are traded in China using Australian dollars instead of US dollars, making it slightly more immune to weakening Chinese currency renminbi which is pegged to US dollars.