French Wine Export Decline Amid Global Challenges

French wine and spirit exports declined by almost 6% in 2023 due to decreased consumer demand and distributor de-stocking, particularly in the U.S. market. The total export value reached 16.2 billion euros, with the U.S. experiencing a 22% decrease in imports and China's wine and spirit imports decreasing by more than 6%. Despite this, China saw a slight increase in spirits sales due to the reopening of venues. Industry experts anticipate economic and political uncertainty in 2024, with the ending of the de-stocking phase in the U.S. market being a positive factor. However, trade tensions, such as the anti-dumping investigation into European Union brandy by China and the possibility of Donald Trump returning as U.S. President, are concerns.