China has overtaken the US and the UK to become Chile's biggest wine export market, as revealed in Wines of Chile's 2016 sales report.
Chile exported USD $195 million* worth of wine to China last year, compared to an export value of $183 million to the US and $148 million to the UK as both of the traditional markets fell in value by 8% and 9% respectively. Japan is the fourth most important market for Chile, just $6 million behind the UK in export value, cementing the growing importance of occidental markets.
China also became the biggest export market for Australian wines in 2016, which holds the second greatest market share after France. The US is still France's biggest value market, however 2016 was a landmark year in affirming China's growing influence despite the devaluation of the yuan.
Image: Chilean vineyards
Each of the top five wine countries (France, Australia, Chile, Spain and Italy in order of value) reported increases in export value and volume in 2016. The fastest growing in value is Italy, with a 39% increase in export value since 2015. Italy is also the only country of the big five whose average bottle price went up from last year, by almost 22%, although Chile's average bottle price remained fairly consistent, dropping by less than 0.2%.
*Figures released by Chinese Customs showed that the total import value of bottled Chilean wines in 2016 is 209,385,748 US Dollars. This information however doesn’t change the conclusion of this story.
Translated by Sylvia Wu / 吴嘉溦