Forecasts for foreign trade in wine for 2024 have been met. Italy has crossed the eight-billion-euro threshold in export value, maintaining the growth pace recorded since last summer and reaching a total of 8.13 billion euros for the first time. This is a historic record for Italian wine, yet this milestone comes in a context of significant international uncertainty and declining real consumption in the most important market, the United States. On one hand, there is satisfaction at achieving a long-awaited goal, but on the other, macroeconomic trends and new consumption habits could make 2024 a peak that will be difficult to replicate in the short term.
Rising volumes, imports, and average price
Looking at the data in detail, not only has export value increased, but also the quantity of wine shipped abroad in the past year. According to Istat data on foreign trade, analysed by Tre Bicchieri of Gambero Rosso, volume grew by 3.3% to 2.18 billion litres. However, this is not a record figure, as volumes reached 2.2 billion litres in 2021. The value of wine imports, meanwhile, rose from 517 to 592 million euros, mainly due to purchases from neighbouring France, against which Italy has a negative trade balance of nearly 100 million euros. The average export price per litre of wine was 3.72 euros, a slight increase compared to the 3.65 euros per litre recorded in 2023.
Prosecco Doc - glass
Sparkling wines: The true engine of growth
The sparkling wine sector remains the real driver of Italian wine exports. In 2024, growth was significantly higher than the overall average for Italian wine, with the segment reaching 2.38 billion euros, an increase of 8.9%, while volumes from January to December totalled 555 million litres (+12%). Of this, a substantial 414 million litres were Prosecco DOC (+15%), which also grew by 11% in value, reaching 1.82 billion euros. Prosecco DOC alone accounts for over 75% of the total value of exported Italian sparkling wines.
By contrast, the growth rate of still bottled wines (in containers up to 2 litres) was more moderate, with volumes rising slightly from 1.15 to 1.20 billion litres (+4.3%), and total revenue reaching 5.3 billion euros, a 4.7% increase.
The top three markets: stockpiling effect in the US
Examining individual markets, the United States remains the top buyer of Italian wine. However, the looming threat of tariffs on agricultural and agri-food imports from the European Union—announced months ago by President Donald Trump and confirmed just weeks ago—has influenced trade patterns. Imports grew by 7% in volume (362 million litres), with spending rising by 10.2% to 1.93 billion euros. This suggests a stockpiling effect by importers, seeking to avoid the tariff hikes expected to take effect in April.
In Germany, where household consumption is declining, volumes fell from 531 to 515 million litres (-3%), while values showed slight growth, from 1.14 to 1.18 billion euros (+3.7%).
In the United Kingdom, where new trends are emerging and an increase in alcohol duties is expected, wine imports rose from 256 to 261 million litres in a year (+2%), with value increasing from 842 to 851 million euros (+1%).
Alta Langa is the wine of the year: it will be the Ambassador of Regional Products under the Piemonte brand
The 15 Soave wines with the best quality-price ratio chosen by Gambero Rosso
Tonda Romana, baccalà fillets, and non-alcoholic wines: the new life of Rome’s oldest pizzeria
Turning point for Abruzzo wines: a vineyard map defines the territory’s suitability
The 8 Oltrepò Pavese Rieslings with the best quality-price ratio chosen by Gambero Rosso
