After Removing Tariffs... Australian Wine Imports from China Increased 80 Times

China's imports of Australian wine surged sharply in April, immediately after the tariff was lifted.

On the 23rd, Hong Kong's South China Morning Post (SCMP) reported, citing data from China's General Administration of Customs, that China's imports of Australian wine in April amounted to $10.4 million (approximately 14.2 billion KRW), an increase of about 80 times compared to the same period last year ($126,045). In terms of import volume, it rose more than sevenfold to 462,518 liters during the same period.

Accordingly, Australia's share in China's wine imports increased from 1.45% in March to 10.52% last month, ranking third after France and Chile. However, it has not yet reached the 37% market share recorded in 2019 before the tariff measures.

Earlier, China lifted the punitive import tariffs of up to 218.4%, which had been in effect since March 2021, at the end of March this year. Chinese Premier Li Chang is scheduled to visit Australia next month, and import restrictions, including those on lobsters, are expected to be further eased thereafter.

According to the General Administration of Customs, China did not import any Australian lobsters in April, with Vietnam and New Zealand accounting for most of the market at 46% and 29.85%, respectively. In 2019, Australia was the largest lobster exporter to China, holding a 54.9% market share worth $517 million.

Lu Xiang, a researcher at the Chinese Academy of Social Sciences specializing in American studies, said, "If China completely removes the barriers, all types of products, especially wine, can return to normal trade according to demand." He added, "However, while both countries seek mutual benefits in the economic sector, concerns remain regarding security alliances with the US and the UK."