Asia Demand Driving Australian Wine Export Business
China is Australia's biggest trade partner with total trade worth $160 billion, according to the Australia government announcement. 'China-Australia FTA will make Australian exporters more competitive in the Chinese market' in sectors such as the wine industry, said official.
Australia's wine industry has reported a 32 percent increase in the value of its wine exports to China in the past year, a trade that was worth more than $200 million in the 2014-15 financial year that ended on June 30.
The total value of Australia's wine exports from June 2014 through June 2015 reached $1.4 billion, but it was Asia that dominated the business. The value of wine exports to Northeast Asia was up 29 percent and Southeast Asia was up 18 percent. Detail are:
China - up 32% increase in the value
Malaysia - up 26% to a record $31 million
Thailand - up 16% to $12 million
South Korea - up 28% to $7.4 million
Philippines - up 19% to a record $4.5 million
Taiwan - up 47% to $11 million
