Report Highlights: The U.S. has long been the leading supplier of wines to the Philippines and, since 2009, the Philippines has been the largest U.S. wine market in Southeast Asia in terms of volume. In 2015, U.S. wine exports to the Philippines reached 3.3 million liters, and $9.8 million, up 35 and 23 percent respectively over the previous year. FAS Manila estimates 2016 exports will reach a record 3.7 million liters, and $11 million. Prospects for growth are exceptionally bright despite tariffs and taxes that inflate the final price by roughly 25 percent, the strong U.S. dollar, distribution challenges, and intense competition due to regional free-trade agreements. The country’s continued economic growth, wine’s increasing popularity, the widespread trust and acceptance of U.S. products, a young population, and wine comprising less than one percent of current alcohol consumption create an extraordinary profile that makes the Philippines one of the most exciting wine markets in the world.
|US Wines Remain Strong in Booming Philippine Market_Manila_Philippines_5-13-2016.pdf||792.68 KB|