Cyprus: Wine Market 2020

Wine Market Size in Cyprus

The revenue of the wine market in Cyprus amounted to $X in 2018, surging by X% against the previous year. The market value increased at an average annual rate of +X% from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. In that year, the wine market reached its peak level of $X. From 2015 to 2018, the growth of the wine market remained at a somewhat lower figure.

Wine Production in Cyprus

In value terms, wine production amounted to $X in 2018 estimated in export prices. In general, wine production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Cyprus wine production peaked at $X in 2007; however, from 2008 to 2018, production failed to regain its momentum.

Wine Exports

Exports from Cyprus

In 2018, the exports of wine and grape must from Cyprus stood at X litres, rising by X% against the previous year. Over the period under review, wine exports, however, continue to indicate an abrupt contraction. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Cyprus exports peaked at X litres in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

In value terms, wine exports amounted to $X in 2018. In general, wine exports, however, continue to indicate a deep drop. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, wine exports reached their maximum at $X in 2007; however, from 2008 to 2018, exports remained at a lower figure.

Exports by Country

The countries with the highest levels of wine exports in 2018 were Spain (X litres), Italy (X litres) and France (X litres), together finishing at X% of total export. Chile (X litres) held the next position in the ranking, followed by Australia (X litres) and South Africa (X litres). All these countries together took approx. X% share of total exports. The following exporters - Germany (X litres), the U.S. (X litres), New Zealand (X litres), Portugal (X litres), Argentina (X litres) and China (X litres) - together made up X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by China, while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and Spain ($X) constituted the countries with the highest levels of exports in 2018, together comprising X% of total exports. Australia, Chile, the U.S., New Zealand, Germany, Portugal, Argentina, South Africa, China and Cyprus lagged somewhat behind, together accounting for a further X the main exporting countries, China experienced the highest rates of growth with regard to exports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the wine export price in Cyprus amounted to $X per litre, falling by -X% against the previous year. In general, the wine export price, however, continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2014 when the export price increased by X% year-to-year. Over the period under review, the export prices for wine and grape must reached their maximum at $X per litre in 2016; however, from 2017 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was France ($X per litre), while Spain ($X per litre) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Argentina, while the other leaders experienced more modest paces of growth.

Wine Imports

Imports into Cyprus

In 2018, the amount of wine and grape must imported into Cyprus totaled X litres, going up by X% against the previous year. Over the period under review, wine imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. Over the period under review, wine imports attained their peak figure in 2018 and are likely to see steady growth in the near future.

In value terms, wine imports stood at $X in 2018. Over the period under review, the total imports indicated a buoyant expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, wine imports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. In that year, wine imports attained their peak and are likely to continue its growth in the immediate term.

Imports by Country

The imports of the twelve major importers of wine and grape must, namely Germany, the UK, the U.S., China, France, Russia, Canada, the Netherlands, Belgium, Japan, Denmark and Switzerland, represented more than two-thirds of total import.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by China, while the other leaders experienced more modest paces of growth.

In value terms, the largest wine importing markets into Cyprus were the U.S. ($X), the UK ($X) and Germany ($X), with a combined X% share of total imports. These countries were followed by China, Canada, Japan, the Netherlands, Belgium, Russia, Switzerland, France, Denmark and Cyprus, which together accounted for a further X recorded the highest rates of growth with regard to imports, in terms of the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the wine import price in Cyprus amounted to $X per litre, picking up by X% against the previous year. In general, the wine import price, however, continues to indicate a significant curtailment. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Cyprus import price peaked at $X per litre in 2009; however, from 2010 to 2018, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per litre), while France ($X per litre) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform