Export of Wine and Alcoholic Beverages
The upward trend in Georgian wine export revenues continued in 2023, with a total of $259 million worth of wine exported to 66 countries worldwide. This represents a 3% increase compared to the previous year. In terms of volume, 89.5 million liters of wine were exported.
The decrease in exports, quantitatively speaking, was 12% compared to 2022. However, the increase in export revenues can be attributed to the rising price of Georgian wine, which is the primary factor driving this growth.
It is worth noting that after a decrease in wine prices during the COVID-19 pandemic, export prices started to rise in 2023. The average export price of 1 liter of Georgian wine increased from $2.48 in 2022 to $2.89 in 2023.
The growth in export revenues is particularly notable in key markets: 60% increase in the Republic of Korea, 43% increase in Germany, 6% increase in the USA, 3% increase in Poland, and 1% increase in Japan. Additionally, there has been a significant surge in the export of alcoholic beverages. A total of 31.5 million liters of spirits, valued at $196.2 million, were exported to 54 countries globally. This represents a substantial increase of 42% in revenue and a 55% increase in volume.
According to the International Organisation of Vine and Wine (OIV), global wine consumption has been declining. Over the past five years (2017-2022), there has been an average decrease of 6% in wine consumption. However, the premium wine segment, defined as wines priced at $10 or more per bottle, has experienced growth, while the consumption of cheaper wines priced below $10 per bottle has declined significantly.
Wine exports have been greatly affected by global events, including the ongoing war in Ukraine and related crises, which have caused disruptions in the supply chain.
It is important to highlight that the year 2024 started on a positive note. In January, a total of 6.5 million liters of wine were exported from Georgia to 34 countries, indicating a significant growth of 22% compared to the same period in the previous year. The value of exported wine reached $18.217 billion, reflecting a substantial increase of 15%. Furthermore, a total of 2.445 billion liters of spirits were exported, representing a significant increase of 24%. These exports were valued at $13 million, indicating a modest rise of 2%.