As we move closer to the festive season, it’s good to know that trade is booming, in the important sectors at least. This year, the UK will import some $633m worth of beer. This is 2% more than last year so clearly the Brits will be drinking away any impact of Brexit. Mind you, when it comes to pure indulgence, the US will import over $2bn of chocolate. This is nearly 7% higher than in 2015 so President Elect Trump may need to hold back on revoking any aspects of Obamacare that related to dentistry! Not to be outdone by the Americans, however, the Chinese are importing $188m of sweets and sugar confectionary. This is 5% higher than last year and suggests that the Chinese government’s move to make China a more demand-led economy is playing out well in this luxury segment. Finally, the German’s are upholding the real tradition of wholesome food at Christmas, we would expect nothing less and their imports of Turkeys are over 4% higher than last year.
And on that note, here’s to the $32bn of global trade in wine this year! At least some of that, we hope will be offered to Father Christmas!
A joyful festive season and a happy and peaceful New Year to you all.
We look forward to working more with ITFA in 2017.