Despite the continuing decline in the rate of Australian wine exports by volume (from 16% for the year ending December 1998 to 13% for the year ending February 1998), the dollar value of exports continues to increase, exceeding $900 million for the first time. Much of this improvement can be attributed to a 10% in the value of exported wine, to $A4.48 per litre. Naturally, a significant component of this development is directly linked to the performance of the Australian dollar against European currencies, especially the Sterling, and the US dollar. Sales to the United Kingdom are presently up by 33% by value against the previous year, while the US is steadily improving the value of its Australian wine imports at a current rate of 16%. At the present time 48% by volume and 46% by value of Australian wine exports are directed towards the UK. According to the Australian Wine Export Council’s latest figures, other countries showing strong relative growth are Japan, Germany, Canada and Switzerland. It is encouraging new that the volume of Australian wine sold to Japan is presently increasing by 60% per annum, while volume increases to Germany are 36% and Switzerland by 30%.
