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News
Asia helps France to record year
Asian demand for Cognac and Bordeaux wines helped France to achieve a record year for wine and spirits exports in 2011.
According to data for the 12 months to the end of December, released this week by the country’s Federation of Wine and Spirits Exporters (FEVS), France enjoyed a 10.5% increase in exports to €10 billion.
FEVS president Louis-Fabrice Latour attributed much of this growth to the collective €2.5bn in sales to Asia, a 29% value increase in shipments to the continent.
Although still the main market for French wine and spirits, exports to the rest of Europe saw a more modest 3% growth at €4.1bn, while the Americas rose by 9% to account for €2.1bn.
In addition to the demand for Bordeaux and Cognac – exports of the latter rose by 10%, building on a 33% rise in 2010 – France was also boosted by a 9.3% uplift in Champagne exports to €2.1bn.
The results mean that the country’s wine and spirit industry currently represents the second largest contribution to its trade balance after the aerospace industry.
It’s definitely something of a ‘golden age’ for the wine & spirit market. Sales of older spirits – such as cognac – are now huge in Asia, and forecast to get even greater. There are some great reviews of various cognac brands here – http://www.cognacreview.com/
Love this article and all articles regarding what China is enjoying in the wine world. Will be reporting on this as an ebook project – – http://www.facebook.com/AtoZinfandel.