Italian wine exports overtake automotive industry

on 26/03/12 at 8:49 am

Wine

Vinitaly began at the weekend as the latest figures show that Italian wine exports are worth more than the country’s automotive ones.

The 46th edition of Vinitaly kicked off with a rousing speech from Ettore Riello, president of VeronaFiere, speaking about a number of economic issues relating to the Italian wine trade, which now represents €30 billion of the export market and has overcome the automotive industry in importance.

“A key mandate is to attack the selling of fakes in the wine and food industry,” Riello stated, explaining that it is important to protect the quality of the Italian name.

Riello also underscored the importance of the global marketplace, as 30% of visitors to Vinitaly are from 110 different foreign countries.

Of key importance to Italy are the BRIC countries, with Riello highlighting the importance of Brazil yet expressing uncertainty about what would happen if the already steep 200% tax doubles, as is currently being debated.

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