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French Wine And Spirits Exports Decline For Second Year In 2024 Amid Weaker Demand And Market Challenges

by THEFUTURE.TEAM

February 11, 2025

French wine and spirits exports experienced a second consecutive year of decline in 2024, as demand for premium products dropped and the industry grappled with lower prices, a softer Chinese market, and potential tariff threats, according to the Federation of Wine and Spirits Exporters (FEVS).

Key Essentials

Total exports: €15.6 billion ($17.5 billion), a 4% drop from 2023.
Volume: Steady at 174 million cases, but value hit hard in key markets, particularly in China.
China’s imports: Down 20%, accounting for the largest portion of the decline. Other markets like Singapore and Hong Kong also saw decreases of 25% and 12%, respectively, making up 90% of the overall drop.

French spirits exports were especially affected, falling 6.5% to €4.5 billion. This decline was largely attributed to China’s economic struggles and Beijing’s anti-dumping measures on European brandy, especially French cognac. Sales of cognac saw an 11% drop in value, although the volume only decreased by 1%, supported by restocking in the United States and precautionary purchases in light of fears of new U.S. tariffs on French wine.

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The gap between the decline in value and the slight drop in volume is believed to reflect a shift toward younger, less expensive cognac. While this trend has impacted the overall value, it has kept volumes relatively stable.

Exports to the United States, which remains France’s largest export market, showed more resilience, with a 5% increase to €3.8 billion. Despite this growth, the wine sector saw a 3% drop in revenue, totaling €10.9 billion, largely driven by an 8% decline in Champagne sales.

Looking ahead, FEVS Chairman Gabriel Picard highlighted two major uncertainties for the upcoming year: the situation in China and the potential impact of U.S. tariffs. While economic fundamentals in the U.S. appear relatively stable, there are concerns about future tax increases. Regarding China, Picard praised efforts to support the Cognac sector but called for “concrete action” to ease trade tensions ahead of a planned visit from Prime Minister François Bayrou.

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Cyprus Emerges As A Leading Household Consumer In The European Union

by THEFUTURE.TEAM

June 30, 2025

Overview Of Eurostat Findings

A recent Eurostat survey, which adjusts real consumption per capita using purchasing power standards (PPS), has positioned Cyprus among the highest household consumers in the European Union. In 2024, Cyprus recorded a per capita expenditure of 21,879 PPS, a figure that underscores the country’s robust material well-being relative to other member states.

Comparative Consumption Analysis

Luxembourg claimed the top spot with an impressive 28,731 PPS per inhabitant. Trailing closely were Ireland (23,534 PPS), Belgium (23,437 PPS), Germany (23,333 PPS), Austria (23,094 PPS), the Netherlands (22,805 PPS), Denmark (22,078 PPS), and Italy (21,986 PPS), with Cyprus rounding out this elite group at 21,879 PPS. These figures not only highlight the high expenditure across these nations but also reflect differences in purchasing power and living standards across the region.

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Contrasting Trends In Household Spending

The survey also shed light on countries with lower household spending levels. Hungary and Bulgaria reported the smallest average expenditures, at 14,621 PPS and 15,025 PPS respectively. Meanwhile, Greece and Portugal recorded 18,752 PPS and 19,328 PPS, respectively. Noteworthy figures from France (20,462 PPS), Finland (20,158 PPS), Lithuania (19,261 PPS), Malta (19,622 PPS), Slovenia (18,269 PPS), Slovakia (17,233 PPS), Latvia (16,461 PPS), Estonia (16,209 PPS), and the Czech Republic (16,757 PPS) further illustrate the disparate economic landscapes within the EU. Spain’s figure, however, was an outlier at 10,899 PPS, suggesting the need for further data clarification.

Growth Trends And Economic Implications

Eurostat’s longitudinal analysis from 2019 to 2024 revealed that Croatia, Bulgaria, and Romania experienced the fastest annual increases in real consumer spending, each growing by at least 3.8%. In contrast, five member states, with the Czech Republic experiencing the largest drop at an average annual decline of 1.3%, indicate a varied economic recovery narrative across the continent.

This comprehensive survey not only provides valuable insights into current household consumption patterns but also offers a robust framework for policymakers and business leaders to understand economic shifts across the EU. Such data is integral for strategic decision-making in markets that are increasingly defined by evolving consumer behavior and regional economic resilience.