US set to top UK as Australia's top export market

US set to top UK as Australia's top export market News Wine News
  • Thursday 26 June 2003

The US looks set to overtake the UK as Australia's most valuable export market.

Figures released last week by the Australian Wine and Brandy Corporation (AWBC) show a massive 52% increase in sales to the US, while UK sales growth slumped to the lowest in years – down 11% for the year to May 2003.

The value of sales to the US now amount to 92% of the UK total (AUS$817m compared to AUS$888m). If current growth rates continue the US is on course to become Australia's most important export market by value this time next year.

Germany, New Zealand and Canada have also seen strong growth for Australia - up 83%, 29% and 28% respectively by volume.

In all, Australia added 100m litres to its volume sales in 2002/3, taking the total to more than 500m litres.

NB AUS$1 = €0.58

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