Wine exports reach AUD 3 billion

Australian wine exports have hit AUD 3 billion (EUR 1.8 million) a year for the first time as confidence grows that the industry is now in recovery mode.

Rising demand from the U.S. and China helped push exports up by 8 percent in value and 10 percent in volume for the twelve months ended 31 July 2007. The United Kingdom, narrowly ahead of U.S., is the top destination for Australian wines with China now fifth. Exports are expected to reach AUD 4 billion (EUR 2.4 billion) a year by 2012.