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’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.

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