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 favoured destinations by China for wine imports were France, China, Spain and Italy. France and Chile were the two biggest wine suppliers to China with 40% and 20% market share respectively. Other major markets for China's wine exports were Italy, Spain, Hong Kong, Singapore, United States, New Zealand, South Africa and Australia. Australia was reported as the fastest growing market for China's wine imports.

Australia export data shows that China’s wine imports from Australia stood at $790 million in 2023.  However, the Australian wine exports to China were highly impacted by wine tariffs imposed by the Chinese government. Whereas, China’s wine exports to Australia were estimated to be around $700K during last year. 

Casella Family Brands, Pernod Ricard Winemakers and Treasury Wine Estates Emea are some of the top wine exporting countries in the world. Focus Wine Cellars, Monteswines, RR Wine, and Copmagnie Francaise Des Grands Vins were other major wine export companies to China from other countries.

China export data suggests that the overall wine exports by China recorded to be $45 million during last year. Hong Kong was the biggest importer of Chinese wine as it was responsible for 60% of the country’s overall wine exports. In terms of China’s wine exports share, other major wine importing markets were Singapore, United States, United Arab Emirates, France, Nigeria and Macau.  

As Australian wine is now again introduced in the Chinese market, the tariffs have been reduced. It's a great opportunity for Australian wine exporters to extend their wine exports across the Chinese market. China is likely to raise its wine imports quota from Australia. With global import export data provider exclusive trade intelligence reports, companies could draw genuine wine buyers from China. 

Also, companies could encounter real time analysis on China’s wine imports markets, top wine export companies, top Chinese wine importers along with their price, & volume. These insights could assist Australian wine producers and exporters to assess the wine demand across China and any other market and outshine their competitors like a pro. A data could be great help in boosting ROI for any import export business.