In the first nine months of 2023
Revenue from the first sale of "Madeira" Wine increased by 5.1% year-on-year
In the first nine months of 2023, according to data provided by IVBAM - Madeira Wine, Embroidery and Handicraft Institute, IP-RAM, "Madeira" wine sales amounted to approximately 2,143.2 thousand litres in the reference period of 2023. This resulted in first-sale revenues of around 15.9 million euros. Compared to the same period the previous year, there were slight increases of 0.1% in quantity and a more substantial growth of 5.1% in value.
Between January and September 2023, sales in the national market showed positive trends compared to the same period in 2022, both in terms of quantities (+10.7%) and value (+16.2%). As a result, sales in the national market reached 456.2 thousand litres and generated approximately 4.2 million euros. Out of these figures, 363.5 thousand litres and 3.1 million euros came from sales made in the Autonomous Region of Madeira.
Exports to European Union countries totalled 1.0 million litres, generating revenues of 4.8 million euros, with year-on-year changes of +1.0% in volume and +0.8% in value. In contrast, exports to non-EU countries reached 481.9 thousand litres, producing revenues of 4.9 million euros, reflecting increases of 4.9% and 5.6%, respectively.
In the European Union (EU) countries, notable increases in sales were observed in the French market, which continues to be the most significant market among EU countries, with changes of +5.0% in quantity and +3.9% in value. Belgium also showed positive trends (+18.1% and +10.8%). On the downside, Germany's performance was negative, with changes of -15.0% in quantity and -13.1% in value, in the same order.
In non-EU markets, noteworthy increases were recorded for the United Kingdom (+4.4% in quantities and +29.5% in value), while Japan showed a decline (-23.6%; -9.1%). In the United States, there was an increase in volume and a decrease in value (+4.0%; -3.4%).
Out of the total wine sold during these nine months, 74.3% consisted of bottled wine, sold on average at 8.81 euros per litre (compared to 8.51 euros per litre in the first nine months of 2022). The remaining wine was sold in bulk at an average price of 2.82 euros per litre, an increase of 0.04 euros per litre compared to the same period the previous year.
Narrowing down the analysis to the third quarter of 2023, the sale of Madeira wine reached approximately 634.8 thousand litres, generating first-sale revenues of around 5.0 million euros. When compared to the same period in the previous year, there were decreases of 9.1% in quantity and 1.5% in value.