French Wine And Spirits Exports Hit Record In 2019 Despite U.s. Tariffs

Posted: Feb 13, 2020



PARIS, Feb 12 Reuters - French wine and spirits exports hit a new record last year as exporters booked sales in anticipation of tariffs imposed by the United States and as a result of uncertainty over Brexit, industry group FEVS said on Wednesday.

Sales abroad of wines and spirits -- France's second-biggest export after the aerospace sector -- rose 5.9% in value to a new record of 14 billion euros ($15.3 billion), said the 'FEVS' Federation of French Wines and Spirit Exporters.

Shipments to the United States, by far the largest overseas market for French wines and spirits and one which represents nearly a quarter of all such exports, rose 16% to 3.7 billion euros in 2019, with volumes rising 5.5%.

The United States imposed 25% duties last year on an array of European foodstuffs including French wine and European cheeses, as part of Washington's response to illegal EU aircraft subsidies.

Uncertainty last year about the date and conditions of Britain's exit from the European Union also resulted in people buying up stock ahead of time. This led to a 4.4% rise in sales in 2019 to 1.4 billion euros, said FEVS. Britain is the French wine and spirits industry's second-biggest export market.

"This positive result in 2019 should not mislead us: trade and international political tensions have weighed heavily on exports of French wines and spirits companies and herald a difficult 2020 year," FEVS President Antoine Leccia said in a statement, pointing to the U.S. market as the most worrying. ($1 = 0.9157 euros)

By Sybille de La Hamaide; Editing by Sudip Kar-Gupta
February 12, 2020
Source: Agriculture.com



Go-Wine Sharing and Promotion

Go-Wine's mission is to organize food and beverage information and make it universally accessible and beneficial. These are the benefits of sharing your article in Go-Wine.com

  • It Generates Free Traffic to your site.
  • Your Article Will Get Indexed Faster.
  • Your Google Rankings Will Rise. Google Rise Articles with Positive Participation & Contribution.
  • Your Article Will Reach New Customers and Audience. Go-Wine has a selected audience and visitors from over 120 countries.
  • You always receive credit - you will be cited accurately (Author, Website & Hyperlink).
  • The integrity of the Information is not compromised - you always will be linked to the most up to date version of your article.

Contact Us for more information.

© 2020 Go-Wine©. All Rights Reserved.
Designed by CX Web Design. Vision of Wine Business Academy