Wednesday February 14, 2018
06:05 PM GMT+8

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French exports of wine and spirits jumped by more than €1 billion last year to strike a record level. — AFP picFrench exports of wine and spirits jumped by more than €1 billion last year to strike a record level. — AFP picPARIS, Feb 14 — French exports of wine and spirits jumped by more than €1 billion (RM4.83 billion) last year to strike a record level, driven by a surge in sales of cognac, a trade body said today.

The number of 12-bottle cases shipped abroad rose by 5 per cent to 198.6 million, while in terms of value exports climbed by 8.5 per cent to €12.9 billion, according to data from the Federation of French Wine and Spirits Exporters (FEVS).

Exports of cognac led the growth, climbing by 8.7 per cent in volume and 10.8 per cent in value.

Exports of wine also perked up in 2017, having been held in check the previous four years due to fierce price competition, rising by 6 per cent in volume and 9.6 per cent in value.

While exports to fellow EU members returned to growth last year, but most of the expansion was due to sales further afield, in particular North America and Asia.

Shipments to the United States climbed by 10 per cent to over €3 billion, making it the top export market for French wine and spirits.

Exports to China shot 25 per cent higher to more than €1.2 billion due to the growth of the middle class and urbanisation of the population. — AFP

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