U.S. Wine Export Value Slows In 2014February 26, 2015
U.S. wine exports generated $1.49 billion in winery revenues last year, according to the Wine Institute. That total marks a 3.9% decline from 2013’s $1.55 billion in revenues, with a strong U.S. dollar and the West Coast’s port slowdown negatively impacting sales. Export volumes, however, were up 1.6% on to 49.2 million cases. California accounts for around 90% of U.S. wine exports.
Several key export markets for California wines declined last year, including the European Union (-16% to $518 million), Japan (-13% to $88 million), China (-8% to $71 million) and Hong Kong (-11% to $69 million). Meanwhile, Canada (+7% to $487 million) and Mexico (+14% to $24 million) were on the rise.
The Wine Institute called for Congress to grant President Obama’s request for “fast track” authority to negotiate trade deals like the proposed Trans-Pacific Partnership and Transatlantic Trade & Investment Partnership, which it says could eliminate tariffs on U.S. wines in key Asian and European markets.
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Tagged : The Wine Institute