In the first half of 2023
Revenue from the first-sale of "Madeira" Wine increased by 8.4% compared to the same period last year
According to data provided by IVBAM - Madeira Wine, Embroidery and Handicraft Institute, IP-RAM, in the first six months of the year, the volume of "Madeira" wine sold exceeded 1.5 million litres, generating approximately 10.9 million euros in first-sale revenue. Compared to the same period in 2022, both the volume sold and the first-sale receipts show positive year-on-year changes of 4.6% and 8.4%, respectively.
During this period, sales within the national territory showed positive growth compared to the first half of 2022, both in terms of volume (+15.7%) and value (+23.5%). Sales in the domestic market reached 371.3 thousand litres and yielded an approximate value of 2.8 million euros, of which 248.1 thousand litres and 2.0 million euros were from sales made in the Autonomous Region of Madeira. Exports to European Union countries amounted to approximately 709.3 thousand litres, generating a value of 3.2 million euros, representing year-on-year changes of +0.1% in volume and +1.6% in value. On the other hand, exports to third countries reached 481.9 thousand litres, resulting in revenue of 4.9 million euros, reflecting increases of 4.9% and 5.6%, respectively.
Within the European Union (EU), notable increases in sales were observed in the French market - which remains the most important market among EU countries - with changes of +3.5% and +2.5% in quantity and value, respectively. Other noteworthy countries include Germany (+3.2%; +12.9%), Belgium (+15.9%; +29.5%), and Denmark (+44.6%; +17.5%). On the other hand, Sweden performed poorly, with changes of -18.7% and -40.7% in quantity and value, respectively.
In the non-EU market, positive highlights include the United Kingdom (+82.2% in quantity and +136.0% in value), while negative trends were observed for the United States (-11.1%; -15.8%). In Japan, the change was mixed (-11.4%; +2.1%).
Of the total wine sold in these six months, 76.1% corresponded to bottled wine, sold at an average price of 8.58 euros per litre (compared to 8.52 euros per litre in the first six months of 2022). The remaining wine was sold in bulk at an average price of 2.80 euros per litre (an increase of 0.06 euros per litre compared to the same period last year).
Focusing on the second quarter of 2023, the commercialisation of Madeira wine reached approximately 792.9 thousand litres, resulting in first-sale revenue of around 5.5 million euros. Compared to the same period last year, there were increases of 1.7% and 10.4% in quantity and value, respectively.