Image default
Greek News

The US is the biggest importer of wines from the EU (infographic)

As the United States is getting ready to hit the European Union with additional tariffs on a variety of goods as part of a long-lasting conflict over “market-distorting subsidies” the EU allegedly pays to Airbus, many commentators fear the adverse effects that such a measure could have on American jobs and businesses.

The possible 100 percent tariff on wine imported from the EU causes particular unease in the U.S. as it threatens the livelihood of many people working in the hospitality industry, at wine dealers or any other business involved in the acquisition and sale of European wines.

As the following chart shows, the United States is by far the largest market for European wine outside the EU. Having imported more than 6 million hectoliters of Europe’s finest grape juice in 2018, the U.S. accounted for 28 percent of the EU’s extra-EU wine exports that year. While China has developed a taste for fine wine in recent years, the People’s Republic still trails the U.S. by a significant margin, accounting for 12 percent of the EU’s wine exports.

While the U.S. market is certainly important to wineries across Europe, the world’s largest wine producers will likely be able to cope with the potential new tariffs. According to member state information quoted by the European Commission, only 13 percent of the EU’s wine production is sold outside the European Union, which would put the U.S. share at less than five percent. The majority (50 percent) of wine produced in EU member countries is consumed locally while another 28 percent is traded within the EU’s borders.

source statista

Infographic: The U.S. Is the Biggest Importer of Wine From the EU | Statista You will find more infographics at Statista

 

Σχετικα αρθρα

Greek state budget showed a primary surplus of 494 million euros in Jan-March

admin

Greek shipowners outspend the Chinese paying $ 2.5 billion for ship acquisition

admin

Greek Tourism: Favorable sector for Chinese investments

admin

Coronavirus closure of stores extended to April 11

admin

Volkswagen mulling huge investment in Greece

admin

Turkey’s economy most vulnerable in G20 to COVID-19, Moody’s says

admin

Ministry of Health bill passes first reading on ruling party votes, opposition calls it inadequate

admin

Athens awaiting key economic reports

admin

Greek Finance Minister: A further 10% cut in ENFIA tax is a possibility

admin

Greek government plans to inject a total of 10bn euros into economy amid coronavirus pandemic

admin

Coronavirus could mean back-to-back shocks for Turkey

admin

Moody’s: Greece on path to credit upgrade, if it continues reforms

admin

Tech Giants Shrug Off COVID-19 Crisis in Q1 (infographic)

admin

500 Spain hotels ‘to close immediately’ after Thomas Cook fall

admin

How important is the iPhone to Apple? (infographic)

admin

China is the world’s manufacturing superpower (infographic)

admin

Greek current account deficit widened in January-February

admin

EU order for Apple to pay €13bn tax bill to Ireland “defies reality and common sense”

admin