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U.S. wine exports generate $1.4 billion in revenue in 2011 |
02.17.2012
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U.S. wine exports remained a bright spot in the economy in 2011, hitting a record of $1.4 billion in winery revenues, according to a new report by the Wine Institute. An estimated 90 percent of the wine came from California.
The figure was an increase of 21.7 percent compared to 2010. Volume shipments were up 5.8 percent, to 455.7 million liters or 50.6 million nine-liter cases.
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"The quality, diversity and value of California wines have propelled us to another record year for wine exports," said Robert P. (Bobby) Koch, Wine Institute President and CEO. "Our success in removing trade barriers and opening new markets as well as significant marketing investments by our wineries will allow us to reach our goal of $2 billion in exports by 2020."
The fast-growing Asian market has been key to this success, but much remains to be done.
"Export growth in 2011 reinforces the need to continue eliminating unreasonable trade barriers, particularly in the Pacific Rim where wineries are burdened by protectionist tariffs and duplicative regulations costing Asia-Pacific economies close to $1 billion per year," said the Wine Institute's International Trade Policy Director Tom LaFaille.
The top destination by value remained the European Union, with 34 percent of wine exports by value accounting for $478 million in revenues, up 10 percent from 2010. Other top markets were Canada, $379 million, up 23 percent; Hong Kong, $163 million, up 39 percent; Japan, $105 million, up 39 percent; and China, $62 million, up 42 percent.
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