Portugal Sets New Wine Export Record
Portuguese wine exports grew 3% in 2018, reaching a high of €806 million and surpassing the record export value from 2017.
The Portuguese wine industry closed the year with an external trade surplus of €648 million.
According to a study on the sector, by Informa D&B, the main exported product continues to be Port wine, accounting for 43% of total exports.
The majority of exports are destined for the European Union, specifically France and the UK, while outside of the EU, the main exporting countries include the US, Brazil, Canada and Angola.
Portugal is the fifth largest exporter of wine in the EU, behind Spain, France, Italy and Germany, according to Eurostat data.
A Growing Sector
Informa D&B indicates that in 2017 there were 1,346 companies operating wine-related activity in Portugal, 3.9% more than in 2016, with the sector employing close to 10,000 workers (+4.1%).
According to the same source, the provisional volume of wine production in the 2018/2019 wine year fell to 5.30 million hectolitres, 20% lower than in the previous wine year.
In terms of regions, the Douro/North continues to dominate in terms of geographical distribution, capturing 42% of total exports.
In terms of production volume, this area accounts for 21.5% of the total, with Lisbon following with 18% and Minho and Alentejo holding 14% each.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.