Portugal’s wine production soared to 7.4 million hectoliters in 2023, marking the highest output since 2001, according to the latest agricultural statistics released by the National Institute of Statistics (INE).
Key Takeaways
- Record Production: 7.4 million hectoliters, highest since 2001.
- Regional Growth: Increase in almost all regions.
- Complex Structure: Wines show a balance of alcohol, acidity, and tannins.
- Self-Sufficiency: 108.9% self-sufficiency rate in 2022/2023.
- Industry Revenue: Beverage industry revenue at €3.7 billion in 2023.
Regional Growth and Wine Quality
The INE report highlights that wine production increased in nearly all regions of Portugal. The wines produced this year are noted for their complex structure and balance, featuring a harmonious blend of alcohol content, acidity, and tannins.
Self-Sufficiency and Consumption Trends
The self-sufficiency rate for wine stood at 108.9% for the 2022/2023 campaign, a slight decrease from the 112.4% recorded in the previous year. Despite the record production, wine consumption saw a decline of 9.2%, particularly affecting non-certified wines.
Export and Import Dynamics
The 2022/2023 campaign also witnessed a significant drop in wine exports, which fell by 25.9%. Additionally, wine production saw a 6.9% decrease compared to the previous campaign, exacerbated by a 20.2% reduction in imports.
Industry Revenue
The beverage industry in Portugal generated €3.7 billion in revenue in 2023, an increase of €166 million from 2022. The wine industry contributed 49.5% of the total sales value, down from 51.9% in the previous year.
Conclusion
The record-breaking wine production in 2023 underscores the resilience and growth of Portugal’s wine industry, despite challenges in consumption and export markets. The focus on quality and regional growth continues to position Portugal as a significant player in the global wine market.
