In November, exports of Italian sparkling wine, particularly Prosecco, to the U.S. saw a significant surge, reaching a record increase of 41%. This spike was attributed to a rush by importers to stockpile wines ahead of potential tariffs that could be imposed by the newly inaugurated President Donald Trump. The industry group Unione Italiana Vini (UIV) reported that this surge in exports set a new high for the month of November.
For the year as a whole, Italian wine exports to the U.S. showed strong growth, with an overall increase of 19.5% in the first 11 months. The rush to stock up in anticipation of tariffs seems to have contributed to this higher-than-usual November performance. Along with sparkling wines, exports of Italian bottled still wines also increased by 17% in November, indicating broader positive trends in Italian wine exports.
The surge in exports reflects the U.S.’s crucial role as a key market for Italian wines. According to UIV Chairman Lamberto Frescobaldi, exports to the U.S. are expected to exceed 1.9 billion euros ($2 billion) in 2024. The U.S. is responsible for about 24% of all Italian wine exports, making it the largest export market for Italian wines.
The rapid increase in wine exports in November highlights the potential impact of tariff concerns on trade. The uncertainty surrounding potential duties prompted importers to act quickly, resulting in a record-breaking month for exports. This surge underlines the importance of the U.S. market for Italian wine producers and their ability to respond to external trade dynamics.