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Hong Kong: A new sales record

15/04/2024

In 2023, the mature Hong Kong market was the world's 11th largest importer of wine in terms of sales. French wines account for 62% of these sales. However, the political and economic context has had a major impact on the Hong Kong wine market. The market's overall wine imports fell by 10.7% (41.6 million bottles) in 2023 compared to 2022, with sales also down by 8% (895 million euros).

Nevertheless, Bourgogne wines continue to perform well, with a new record in sales (96.5 million euros) and volume (1.27 million bottles) up 3% with respect to the 5-year average.

• Returning to a degree of stability after the 2021 vintage

Sales of Bourgogne wines rose by a healthy 3.4% in 2023 compared to 2022, reaching sales of 96.5 million euros. This represented a new record in terms of value, after an already excellent year of growth in 2022, when sales rose by 9.6% compared to 2021.

• An equal opportunity market for red and white wines

Hong Kong importers bring in almost as many red wines (48%) as white wines from Bourgogne (51%), which is a rare phenomenon in Asia, where markets are traditionally oriented towards red wines.

Both colors are doing well by value, although red wines are experiencing a slow-down in 2023, as the lack of wines from the 2021 vintage continues to have an impact.

Economic report written by the Markets and Development Unit - BIVB - April 2024 (Sources: Customs DEB & EMEBI + DAU - Wine Intelligence - BIVB - MIBD Market)

Contact: Cécile Mathiaud - Head of PR at the BIVB
+33 (0)6 08 56 85 56 - cecile.mathiaud@bivb.com