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AVERAGE PRICE OF PORTUGUESE WINES CONTINUES TO RISE IN 2023
Press Release ViniPortugal
23 February 24

In 2023, Portuguese wine exports reached 928 million euros in value and 319 million in litres, according to figures released by ViniPortugal. There was an increase in the average price per litre to 2.90 euros, which was 0.66% more than in the same period last year.

With regard to the total value of exports, it can be seen that within the European Union, Portuguese wines totalled 407 million euros (down 2.40% in value and 3.35% in volume) and third countries accounted for 521 million euros (down 0.17% in value and 0.54% in volume)..

In terms of markets, France was the country that imported the most Portuguese wines, with a value of 103 million euros, followed by the USA with a value of 100 million euros. In third place was the United Kingdom with 88 million euros.

In 2023, the Brazilian market grew exponentially in terms of Portuguese wine exports with 80 million euros, 9 million euros more than in 2022, making it the largest destination for Portuguese wines, if we don't consider Port wine. In a market where imports grew by around 1%, Portugal achieved good growth of around 8%, unlike Chile and Argentina, which saw their exports to Brazil fall.

"As we had already predicted and largely due to the global context we are experiencing, exports of Portuguese wines fell slightly in 2023, but less than expected. The world wine trade fell sharply in 2023, for a variety of reasons (inflation, interest rates, rising living costs, two wars, economic instability in families, among other factors), which meant that our exports fell. Even so, the figures for our global competitors point to much greater falls than ours, meaning that, despite everything, Portugal has increased its share of the global wine market.”, says Frederico Falcão, president of ViniPortugal.

It should be noted that exports without Port wine are in line with 2022, i.e. 620 million euros and 263 million in volume, a difference of 0.492 million euros compared to the same period last year. The main markets were, in descending order, Brazil, the USA and the UK.

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