There is a new record for Italian agri-food exports, which should exceed 59 billion euros at the end of the year (+16% compared to 2021) also driven by cross-border sales of wines, spirits and vinegars. For wine, the record is set at 8 billion euros (+12% compared to the previous year), as well as for spirits (1.7 billion euros). The result is also good for vinegars, in particular balsamic ones, which end the year with a growth in exports of 15%. There are three factors that have contributed to growth. 1) The evolution of the euro-dollar exchange rate that allowed to compensate for the increases in production costs and recover competitiveness in the markets related to the dollar such as the USA and Canada. 2) The recovery of tourism at a global level, which has given impetus to the consumption of wines and spirits 3) The diversification of markets as a strategy adopted by many companies looking to emerging countries such as Thailand and Vietnam, where the value of wine exports grew respectively by 158% and 82% in the first 8 months of 2022. Ten years ago, European Union markets accounted for about 57% of export value; after Brexit in 2021, the percentage was 39%. This scenario has determined a different approach to the target markets and has prompted an expansion of the commercial spaces to be guarded towards new emerging realities: for instance, today Asia accounts for 7% of the total export of Italian wine.
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