In 2023

Revenue from the first sale of "Madeira" Wine increased by 1.2%, despite a 2.5% decline in volume

According to data provided by IVBAM - Madeira Wine, Embroidery and Handicraft Institute, IP-RAM, Madeira wine sales reached approximately 3.0 million litres in 2023, resulting in first-sale revenues amounting to 21.2 million euros. Compared to 2022, there was a 2.5% decrease in volume but a 1.2% increase in value.

In the same year, sales within the national territory showed positive growth compared to 2022, both in volume (+5.4%) and in value (+8.4%). Thus, sales in the national market reached 614.7 thousand litres, generating approximately 5.7 million euros, of which 477.8 thousand litres and 4.3 million euros were sold in the Autonomous Region of Madeira.

Exports to European Union countries amounted to around 1.5 million litres, generating 6.8 million euros, reflecting year-on-year changes of -3.1% in volume and -0.8% in value. Meanwhile, exports to Third Countries amounted to 874.9 thousand litres, yielding 8.7 million euros, with decreases of 6.3% in volume and 1.5% in value.

In the non-EU market, the United States remains the most important destination for Madeira Wine in terms of commercial value (approximately 3.4 million euros), with a slight decrease of 1.7% in volume and 1.2% in value. In Japan, the decline was more pronounced (-27.0% in volume and -18.2% in value), whereas the United Kingdom witnessed growth (+9.4% in volume and +17.9% in value).

Of the total commercialised, 76.0% consisted of bottled wine, sold on average at 8.47 euros/litre (8.29 euros/litre in 2022). The remaining wine was sold in bulk at an average price of 2.80 euros/litre (0.08 euros/litre more than the previous period).

Reducing the analysis to the fourth quarter of the year, it is observed that the volume of Madeira wine commercialised was 837.7 thousand litres, generating approximately 5.4 million euros in first-sale revenues. Compared to the same period in 2022, both the volume (-8.6%) and the first-sale value (-8.8%) showed negative year-on-year changes.

In 2023, the commercialisation of wine with "Madeiran" Designation of Origin (DO), "Terras Madeirenses" Indication of Geographical Origin (IG), and spirits increased in value

Spirits produced and bottled in the Autonomous Region of Madeira totalled 1,029.4 thousand litres in 2023, representing a 7.8% decrease from the previous year. Spirits that experienced growth were "Distilled Gin" (+43.5%), "Liqueurs" (+4.5%), and "Fruit Brandy" (+174.6%). Conversely, "Rum from Madeira" (-16.0%) and Geneva (-5.2%) decreased. In terms of shares, "Rum from Madeira" represented 54.7% of the volume produced and bottled in 2023, while liqueurs accounted for 43.8%, of which 63.0% was "Poncha from Madeira".

As for the commercialisation of these beverages (considering only regional production), their total amounted to 1,037.3 thousand litres (-5.9% from 2022), generating 8.0 million euros in first-sale revenues (+8.1% from the previous year). 91.8% of the volume and 90.6% of the sales value occurred within the Region.

Regarding the bottling of wine with "Madeiran" Designation of Origin (DO) and wine with "Terras Madeirenses" Indication of Geographical Origin (IG), increases of 42.0% and 101.8% in volume, respectively, were observed compared to 2022, totalling 211.6 thousand litres (a historical maximum) and 17.4 thousand litres.

In 2023, the commercialisation of wine with "Madeiran" DO (excluding sparkling wine) reached 148.9 thousand litres, representing a value of 1,472.1 thousand euros, translating to growth of 12.4% and 21.5%, respectively, compared to the previous year. In "Terras Madeirenses" IG wine, sales amounted to 13.4 thousand litres, corresponding to 89.9 thousand euros (+2.4% and +10.1%, respectively).

In terms of sales of these wines, the regional market accounted for 74.6% of the volume and 68.5% of the first-sale value.

In the year under review, analysing the commercialisation of wine with "Madeiran" DO, the best-selling wines were rosés (40.4% in volume and 23.2% in value), followed by whites (38.4% in volume and 50.1% in value) and reds (21.2% in volume and 26.7% in value). In "Terras Madeirenses" IG wines, red wines (50.2% in volume and 50.4% in value) were the most traded, followed by whites (49.8% in volume and 49.6% in value).

Certification of Madeira embroidery increased compared to 2022

In 2023, the certification of Madeira embroidery generated approximately 538.2 thousand euros in first-sale revenue, up 10.1% from 2022.

In the year under review, of the total certified by IVBAM, 8.5% corresponded to exports to the EU-27, 59.3% to exports to third countries, and 32.2% to sales in Portugal.

In the non-EU market, the emphasis is on the United States, with sales of 266.8 thousand euros (-9.7% compared to the previous year), accounting for 49.6% of the certified embroidery value, followed by the United Kingdom with sales of 51.5 thousand euros (+44.6% from the previous period).

The regional market experienced sales growth, reaching 166.3 thousand euros, up 63.8% from 2022.

For more information, please refer to:

• Tables (Madeira Wine)
• Tables (Wine and Spirits)

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