French wine and spirits exports plummeted to a 25-year low in 2025, battered by U.S. and Chinese tariffs plus a strong euro.
The Federation of Wine and Spirits Exporters (FEVS) reported a 3% volume drop to 168 million cases—the weakest since the late 1990s—and an 8% value decline to €14.3 billion.
Once France’s second-biggest export earner, the sector slipped to third behind aerospace and cosmetics amid trade wars and destocking. The U.S. remained top market despite 21% sales fall to €3 billion and sub-30 million case volumes, hit by 15% tariffs and 200% hike threats.
“There is a real decline in the United States and the volume correction may not have been sufficient, and perhaps we will see another volume correction in 2026,” FEVS chair Gabriel Picard told Reuters ahead of the Wine Paris exhibition.
China sales tumbled 20% to €767 million on 38% anti-dumping duties curbing cognac and armagnac. Cognac volumes sank 15% with 24% value loss.
“Geopolitical tensions between France and China marked the end of cognac in China. Now stopping something doesn’t take long, but rebuilding takes a long time,” Picard said.
Europe held steady at €4.1 billion, aided by 3% UK volume growth. Champagne eked out volume gains but lost 4.5% value due to euro strength.
“We hope to see a rebound in sales in 2026 but it will likely not be significant because the environment is not very different,” said David Chatillon, Comite Champagne co-chair, at Wine Paris.
Picard eyes EU pacts with Mercosur and India for relief, though 2026 challenges persist.