China to raise its wine imports quota from Australia
Australia and China have strengthened their ties over the past years. Last year, China imported a significant amount of goods from Australia. According to China import export data , the bilateral trade between the two has reached $212 billion in 2023. In which, Australia has dominated with more exports compared to China. As per China import data , China has imported over $125 billion worth of goods from Australia in 2023. Iron ore was the most imported item by China from Australia contributing to over 55% market share. Petroleum gas, gold and other minerals were other significant imports by China from Australia with 11%, 8% and 4.6% share respectively. Other major demanded Australian items in the Chinese market were copper, nickel, wheat, wool, meat, wine, etc. Australian wine sees rapid growth across the Chinese market. China is the 8th biggest wine importer in the world. China customs data shows that over $1.5 billion worth of wine was imported during 2023. The most favo...