Armenian wine exports surged from $23.3 million in 2021 to $36.4 million in 2022, from about 8.6 million liters in 2021 to about 12.2 million liters in 2022, according to the Vine and Wine Foundation.
To date, Armenia exports wine to about 36 countries with 80% going to Russia, 6% and to the United States. Investments in winegrowing and winemaking industries soared 10-fold in 2022 from 2016, reaching 35 billion drams. Wine production in Armenia in 2022 dropped to over 12.6 million liters from 13.1 million liters in 2021.
The head of the Vine and Wine Foundation Zaruhi Muradyan told ARKA news agency that despite the drop in 2022, wine production is expected to grow this year.
The number of wineries grew from 25 in 2018 to 150 in 2022. ‘New wines are opening up new markets for us," she noted.
Muradyan stressed that exports of mostly fruit wines to the Asian countries have declined in recent years, but exports to Europe have increased, particularly to the Netherlands, Belgium, Switzerland and Germany.
She also said that sanctions (against Russia) and U.S. dollar’s exchange rate fluctuations have been a major challenge for the industry, with many companies having to renegotiate their contracts.
"There are many challenges, including logistics and sales, but companies are not backing down, trying to be more flexible," she said.
Muradyan pointed out that the sanctions have helped boost interest in Armenian wines in Russia.
"We have been active in the Russian market and managed to increase demand not only for "mass" wines, but also for the wines which are in demand of the HoReCa segment," she said, ARKA reports.
