Macro Watch: Blessed by favourable weather and soil conditions, Argentina’s wine sector shows broad and rapid development, especially in the Andean provinces (Mendoza and San Juan), positioning the country as the fifth largest wine producer and eighth largest wine exporter worldwide.
Higher wine prices saw wine exports achieve a historical maximum export value of USD 733.88 million in 2010, growing by 16.3% year-on-year (YoY) despite the 3.04% decline in wine export volume. Average unit price per hectoliter exported by Argentina grew 20.0% last year. Although the share of wine as a percentage of total exports constitutes only 1.07% of the total exports, this figure more than doubled in recent years, rising from 0.47% in 2000. Even so, exports of concentrated must, a component of wine production, declined by 4.8% YoY in 2010.
According to the National Institute of Viticulture, the U.S. was the biggest export destination for Argentinean wine, receiving 33.6% of Argentina’s total wine exports in 2010. The Mercosur bloc constitutes 12.6% of Argentina’s wine exports market, amounting to USD 92.32 million in 2010, with USD 56.42 million of these exports going to Brazil.
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By Paula Lima in Argentina – CEIC Analyst
According to the National Institute of Viticulture, the U.S. was the biggest export destination for Argentinean wine, receiving 33.6% of Argentina’s total wine exports in 2010. The Mercosur bloc constitutes 12.6% of Argentina’s wine exports market, amounting to USD 92.32 million in 2010, with USD 56.42 million of these exports going to Brazil.
Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription.
By Paula Lima in Argentina – CEIC Analyst
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