French Wine Exports Drops

It seems like the economic recession is hitting every industry in every country. A report from the AP today tells readers that French Wine Exports from 2008 have slumped from last year. While Americans are importing more French wine than ever before, the slump probably has something to do with US consumers tightening their belts in general, choosing cheaper bottles than they might in other years.

From the AP Report:

Though the world export market held out surprisingly well and was just under the record-breaking result of about euro9.4 billion in 2007, de Jouvencel said the outlook for 2009 is murky."It will be a difficult year, without a doubt," de Jouvencel told journalists at a news conference. While exports of Champagne and wines from Burgundy slipped, exports of table wines and Bordeaux were up - mainly on sales of the critically acclaimed 2005 vintage, which went on sale in early 2008, the group said.