Average bottle price of Bordeaux reached €10 in 2022

by Valeria Tenison

Bordeaux exports reached €2.36 billion in 2022, a 1.2% increase compared to the previous year, with a 6.7% drop in volume and a rise in average bottle price to €10.

At a press conference held in Paris during the Wine Paris – Vinexpo fair, the FEVS (The Federation of Wine and Spirits Exporters) which brings together around 550 wine and spirits exporting companies from France, together representing 85% of French wine and spirits exports, revealed a report tackling the export numbers of 2022. The data was obtained from the Customs services and represent an estimate as December figures have not been released yet.

To sum up, 2022 was a year of a war of nerves. The anxiety about the soaring costs alternated with hope provoked by lifting Covid-19 restrictions and an overall bountiful and qualitative harvest. The wine export sales in 2022 reached €11.6 billion, an increase of €1.7 billion (10.2%) to 2021, which must be corrected for inflation. This positive trend concerns all product categories, despite a slight decline in volumes shipped (-3.8%). The net balance – with spirits – amounts to €15.7 billion (+10.3%), making the wine and spirits sector the second largest trade surplus after the aeronautics industry.

“This positive result in 2022 marks the resilience of the industry in a particularly complex environment. Despite the challenging geopolitical context and the revival of inflation, French wine and spirits companies have been able to adapt,” announced César Giron, Chairman of FEVS. The industry, as Giron mentioned, has been able to “absorb and pass on” the increase in its production costs (glass, aluminium, transport).

Giron acknowledged that increased selling prices per bottle drove record sales. In contrast, the volumes sold have declined by 3.8% across the industry, mainly due to the catastrophic 2021 grape harvest caused largely by frost and hail which “handicapped the capacity to export.” This strong appreciation is also explained by the combined impact of the resumption of inflation and the scarcity of supply of still wine on prices, only partially offset by more favourable exchange rate effects.

Bordeaux sales increased by 1.2% in value, reaching €2.36 billion, while the volumes dropped by 6.7%. With 15%, the region kept its leading position among the French wines by volume in the export breakdown and finished second after Champagne in value (20% of the total). With almost 235 million bottles sold, this meant that the average price of a bottle of Bordeaux wine reached €10.

With 15% of volume and 20% of value, the United States remained the leading market for French wine and spirits, followed by the United Kingdom and Germany. For Bordeaux, in contrast, China remained the primary market. Despite the slowdown of the previous years, the country’s wine trade shows signs of recovery.