In the year 2023, the French wine and spirits sector navigated through challenging waters to post exports worth €16.2 billion. Despite representing a 5.9% decline from the previous year, this figure stands as the second-highest in the industry’s export history. The volume of exports also saw a considerable reduction, falling by 10.4%. However, the sector managed to maintain its status as the leading contributor to France’s agri-food surplus and the third largest in the nation’s overall trade balance, with a trade surplus of €14.8 billion, down by 5.8%.

The backdrop of 2023 was fraught with global uncertainties, including persistent international tensions and notable inflationary pressures. Gabriel Picard, President of the French Association of Wine and Spirits Exporters (FEVS), highlighted the resilience of the sector amidst these adversities, underscoring the achievement of the second-best export figure in the face of significant challenges.

A closer look at the export markets reveals a mixed picture. In the United States, the sector experienced a notable decline, with exports decreasing by 22% to €3.6 billion. This downturn was primarily attributed to wholesalers’ efforts to diminish stockpiles accumulated during the Covid-19 pandemic, coupled with subsequent logistical challenges. The decline was particularly sharp in the spirits category, which plummeted by 37%, and sparkling wines, which fell by 16%. Still, wines managed to hold their ground, maintaining stable value. Towards the end of 2023, however, there were signs of a potential recovery in this crucial market.