UK wine exports top £270m

UK wine exports top £270m
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Figures from the Food and Drink Federation (FDF) reveal that wine exports are now worth over £270 million in the first six months of 2017.

This is a 21% increase in value and a 15.4% increase in volume sales from January to July 2017.

The UK now exports more wine than beef or pork.

UK food and drink exports rose most sharply to South Korea, by 77%, and exports to China and Australia increased greatly too, by 35% and 24% respectively.

Overall, however, the UK’s food and drink trade with the EU is worth far more than overseas – £6.3 billion compared to £4.0 billion – underling the importance of striking the right deal with the EU in Brexit negotiations.

The EU’s share of all UK food and drink exports is 61.2%.

Alongside the UK’s well known and leading global spirits position, the nation is also the hub of the global wine industry.

Much of the wine that is originally imported here is then reshipped to the EU, as well as markets further afield – particularly to the Far East and countries like China, Singapore and Hong Kong.

The Wine and Sprit Trade Association (WSTA) said that the figures show the importance of ensuring the UK gets the right deal as it leaves the EU.

It is working with wine trade bodies right across Europe, particularly with Comite Vin and more globally with the World Wine Trade Group to ensure the greatest trade alignment at both a European and international industry level.

WSTA figures show that wine exports to the EU were worth £189 million in 2016 alone and this year looks set to increase value further with such positive growth in the first six months.

This follows news that the UK has achieved is best ever first half for food and drink exports.