In the first 5 months of 2019 the reduction in Chinese wine imports registered a -18%, but the decrease does not affect all wines. If it is heavy for the French (-31.5% in values), the Spanish (-16.9%) and the Italian (-12.5%) wines, the same cannot be said for the Australian and Chilean ones that grow 4.8% and 8.4% respectively.
The decline in Chinese imports of French wines concerned bottled still wines, which fell to a value of almost 34%, while it spared sparkling wines (mainly Champagne) which, on the contrary, grew by over 24%.
"Price plays a fundamental role in Chinese wine purchases and free trade agreements enjoyed by Australians and Chileans (which allows them to enter China at zero duty) favor them over their competitors, even towards the most noble French, who until a few years ago seemed immune to this competitive logic", says Denis Pantini, head of Nomisma Wine Monitor.
Australia decided to invest heavily in the Chinese market, so much that it has become the first outlet market for its wines. Today, 40% of revenues from cross-border sales of bottled Australian still wines derive from China when this incidence did not reach 4% ten years ago.
The reduction that has affected the import of Italian wines on the Chinese market has fortunately not found similarities on the other main world markets. Remaining on the subject of third markets, the import of wines from Italy has grown - again in terms of value and in the first five months of 2019 - by almost 10% in Japan, 2% in the USA, Switzerland and Norway and 1% % in Canada.
