Spanish wine exports fall 7.2% in 2025-2026 campaign
Tax data reviewed by DelReyAWM show Spain shipped 13% less wine abroad in the 2025-2026 campaign, as US demand and bulk sales fell despite a 6.6% rise in average price.
Spain's wine exports fell 7.2% in value and 13% in volume in the 2025-2026 campaign, according to tax data reviewed by the consultancy DelReyAWM, as bulk wine and grape must led the decline.
The country shipped 23.7 million hectolitres of wine and wine-based products between August 2025 and July 2026, around 3.5 million hectolitres less than the previous campaign. Export earnings reached €3.27 billion, a drop of €253 million. Spain's wine trade tracks its "campaign" from August to July, in step with the harvest calendar.
Spanish wine exports fall in 2025-2026
Spain sold less wine abroad this year, but sold it for more.
Grape must took the heaviest hit, down 24.4% in volume and 16% in value, a loss of €64.6 million. Bottled and bulk still wine fell 9.5% in volume and 6.1% in value, with bulk sales alone accounting for roughly 1.3 million of the lost hectolitres.
Wines under a Protected Designation of Origin, the category that includes Rioja and Ribera del Duero, dropped 7.9% in value. Wines under a Protected Geographical Indication fell further, down 14.6%. Varietal wines, a smaller and less regulated category, gained 5.7%.
The average export price rose 6.6% to €1.38 a litre, the one figure moving the right way. Producers sold less but charged more for what they did sell, DelReyAWM's analysis shows, which softened the blow on total revenue even as shipped volumes shrank.
Bulk wine and the US lead losses
The United States, one of Spain's largest markets by value, cut purchases by 16.3% in volume and 16.9% in value. Italy and France also bought less, mostly bulk wine and must destined for blending and industrial use rather than bottled labels.
Analysts point to weaker demand across those core markets rather than a single cause. Some destinations moved the other way: Côte d'Ivoire, Morocco and Romania all increased their purchases of Spanish wine over the campaign, though from a far smaller base.
July, the campaign's final month, brought some relief: volume was down just 6.3% and value only 0.6%, the smallest monthly falls of the year. The next campaign opens on this year's early harvest across Rioja, after its own grape price fight, with the first trade figures due before Christmas.
