U.S. wine exports reached US$1.23B in first 11 months of 2011, up 23% from year-ago period amid increasing Asian demand, weak U.S. dollar, statistics show
January 19, 2012
– Increasing demand from Asia and a weak U.S. dollar that made American wines more affordable were major factors in U.S. wine exports hitting record levels last year, The Los Angeles Times reported Jan. 19.
According to the California Wine Institute, shipments for the first 11 months of 2011 reached US$1.23 billion, up 23% from the year-ago period and a 9% rise over the $1.1 billion tallied for 2010 exports. Full-year statistics for 2011 will be released later this year.
Foreign shipments will total at least $1.3 billion for the 12-month period, the institute projected. European Union exports grew 10.1% to $447.6 in the first 11 months of 2011. Canadian exports rose 24.4% to $347.1 million. Sales to Hong Kong rose 48.4% to $145.9 million, Japan’s increased 42.3% to $96.8 million, and China saw a 38.3% uptick to $55 million.
The primary source of this article is The L.A. Times, Los Angeles, California, on Jan. 19, 2012.