APA-Johannesburg (South Africa) South Africa’s wine exports rose 46.4 percent year-on-year from US$38.84 million in October 2022 to US$56.84 million in the corresponding month last year, a senior industry official has announced.
According to Wines of South Africa chief executive Siobhan Thompson on Wednesday, the growth translated to US$18 million in profit for the wine industry.
The significant increase in wine sales compared to the previous year was mainly due to a substantial rise in exports to Britain by 90.4 percent, the United States (48.1 percent) and Italy (1.36 percent), he said.
The official said Britain remained South Africa’s main export wine market – topping the list with US$31.2 million of total sales – followed by Namibia (US$4.3m), United States (US$3.8m), Germany (US$3.8m) and The Netherlands (US$3.3m).
Thompson noted that while exports grew, imports from the same period dwindled from US$7.5 million to US$5.8 million – equivalent to a $1.7 million or a 25.3 percent reduction.
“As South Africa continues to consolidate its position on the international wine stage, it is evident that its wine industry is not only important locally but also plays a crucial role in the global economy,” the chief executive said.
NM/jn/APA