French wine and spirits export to US declines 6% in value to €16.2bn in 2023 due to inflation, de-stocking by distributors, and reduced imports to €3.6bn.

The French wine and spirits industry faced a significant decline in exports to the US in 2023 due to inflation and clearance of existing stocks by distributors. The exports dropped by 6% in value to €16.2 billion ($17.5 billion) and experienced an over 10% decline in volume. This was partly due to de-stocking by distributors and a 22% drop in imports from France to €3.6 billion. However, FEVS Chairman Gabriel Picard remains optimistic as the de-stocking phase in the US market should end in 2024.

February 16, 2024
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