Sommeliers Choice Awards 2024 Winners
Australian Wine Sets Record Exports to China During Slowdown
“High-speed growth will likely slow in the coming years as the base gets bigger” -Andreas Clark, CEO of Wine Australia
Amidst a total economic slowdown of China which has in a decade dropped to less than 4.5%, Australian wines have walked the wire of wine exports with grace like none other.
With Australian wine exports for 2019 to New Zealand remaining unfazed, to Canada and U.K. fallen, and to U.S. seeing a slight positive charge, wine exports to China has set a record export growth and peak for the Australian wine industry.
The fact that these record numbers were achieved betwixt a total economic slowdown of China which has been struggling with this inevitable meltdown from the past decade, while it combats a trade war with the U.S. since a year now, and while it faces months of protest in Hong Kong, is an event that is certainly noteworthy in the diary of the Australian wine industry.
At the closing of the 12 month period on September 30th, the numbers that showed a 15% surge has resulted in wine exports to China to becoming 55% of the total Australian wine exports in the year 2019.
This graph was expected considering the beginning of 2019 saw China reducing Australian wine import tariffs to zero.