U.S. wine exports fall 4.8 pct in 2018 amid challenges of tariffs, exchange rate

LOS ANGELES, April 8 (Xinhua) -- The value of U.S. wine exports went down by 4.8 percent in 2018, due to strong dollar, retaliatory tariffs, and competition from foreign wine producers, a leading industry trade group said on Monday.

According to the California-based Wine Institute, U.S. wine exports, over 90 percent of which is from the Golden State, reached 1.47 billion U.S. dollars in winery revenues and 375 million liters in 2018.

Compared to 2017, the exports were down by 4.8 percent in value and 1.2 percent in volume last year, the Wine Institute said in its press release.

The institute listed exchange rate, tariffs between the United States and its key trading partners as main factors leading to the decrease.