(Rome, 14 March 2023) The Italy of wine moves nearer to the milestone figure of 8 billion euros after closing exports in 2022 with a new sales record of 7.9 billion euros (+9.8%) despite stagnant volumes (22 million hectolitres, -0.6%). According to analysis by the UIV-Ismea-Vinitaly Observatory based on data released today by ISTAT for all 12 months of 2022, the market has also withstood the inevitable yet partial changes in price lists, although the escalation of production costs has greatly eroded margins in this supply chain, especially for entry-level and popular products (up to 6 euros per litre). The final result, given current economic situation, is undoubtedly positive for one of the most virtuous Made in Italy sectors for the balance of trade, posting figures in the black by more than 7.3 billion euros. As the Observatory points out, the awareness remains that record sales are undoubtedly the outcome of price doping applied to limit the erosion of margins caused by higher costs yet dangerous in terms of consumption forecasts for 2023. There was a significant downturn in the last quarter, with values closing at +5% compared to +19% in March, +11% in June and +12% in September, while volumes remained negative (at -3% on average since June, having been positive only in first quarter). Among competitors, France confirms its position as world leader with 12.3 billion euros (+11% in value and -5% in volume) while Italy held its position as the first supplier in terms of quantity and second in value ahead of Spain (2.98 billion euros, closing at +3.5% in value and -9% by volume).
MARKETS
All the main outlet markets increased in value, starting with the United States (+10%), confirming its status as Italy's leading export market with a share of 23%. Other top buyers are Germany (15% share), up by 5% to 1.2 billion euros; United Kingdom (+10%), Canada (+11%), Switzerland (+3%) and France with excellent growth (+25%). The overview in terms of volume is different, either falling somewhat or stationary on all the main destinations (USA -6%, Germany -2%, UK -4%) with the exception of France (+16%, thanks to impressive growth for Prosecco at +20%). Demand in China is still falling, closing the year at -28% for bottled wine.
TYPES
The Observatory binging together UIV (Italian Wine Union), Ismea (Institute of Services for the Agricultural Food Market) and Vinitaly especially noted that sparkling wines continue to be a strong driving force, posting an impressive +19% in value (Prosecco +22%) and confirming the positive performance by volume (+6%, of which +6% for Prosecco and +9% for Asti Spumante), while bottled still wines are struggling (-3% by volume), with red wines closing at -4% by volume and +4% by value, against 12% for white wines. In particular, volumes for lower-end red wines (3 euros) are declining while premium wines are holding up very well and even achieving good growth, in particular from Piedmont (+9%), Veneto (+4% ) and Tuscany (+6%). Semi-sparkling wines fell back by 7% in volume but gained 6% in value.
REGIONS
Om a regional scale, with more than 2.8 billion euros in turnover generated abroad and a performance over the twelve months above the Italian average (+13.4%), the Veneto strengthens its leadership in Italian exports, posting a 36% share of the national total. Second and third places are also confirmed, with Piedmont growing more slowly (+4.6%, at 1.28 billion euros), followed closely by Tuscany, which closed the year in line with national results (+10.4%, 1.25 billion euros). Overall, these 3 regions cover 68.2% of Made in Italy wine exports, followed by Trentino Alto-Adige (-1.1% for January-December 2022) and Emilia-Romagna (+8.9 %). In terms of performance in the main wine-making regions, growth by Friuli-Venezia Giulia (+39.7%), the Marches (+25.9%) and Sicily (+21%) especially stand out.
Italian wine exports – 2022
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