Foreign Exchange Rates Uk: French Wine & Spirits Market Sees a Boost in 2011

February 3rd, 2012

Foreign exchange rates uk : Wavering money exchange rates, particularly getting the best exchange rate for euros has apparently had a positive impact on French wine and spirit exports. In 2011 exports of wine, spirits and champagne set a new precedent, breaking previous records with an annual increase of nearly 11%.  The increase in exports is across the globe, with particularly sharp increases in the Asian market, which could be a direct result of more open trade channels into Europe.

Wine is the countries second largest export product, the aerospace industry takes fist place and the cosmetics and perfume industry is third – home to some of the world’s most exclusive luxury fashion houses and cosmetics brands. Foreign exchange rates uk for the euro are very favourable as the euro continues to struggle. This pattern is mirrored across the globe; in fact over one billion euros of the total 10 billion exportation figures can be pinned to countries with emerging economies.

TheUnited Stateswas the top importer of French wine in 2011, withBritainsecond andChinathird. Asia is slowly catching up and imported 2.5 billion euros during 2011 – significant increase of almost 30% year on year.

It seems hard economic times do not affect the demand for some products. Germany has significantly reduced imports of French wine and it is felt this is probably a result of the current eurozone crisis and the fact that Germany are quite a large wine producing country and perhaps utilising their own supplies. The same pattern emerged forBelgium, who were previously one of the top importers of French wine.

The picture looks similar for 2012, the International Wine Federation has estimated that Francewill deliver a similar output to 2011 and has forecast a slight decline from 11 billion euros of total exports to 10 billion. If foreign exchange rates uk for euros remain as attractive as they have throughout 2011 it will certainly help keep the wine flowing out ofFrance.

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