CorkonomicsThe economics of wine production, collection, and vineyards
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Vineyard land · Pauillac≈$2,798,250 a hectare▼ down 17% on 20232024Opening price · Château Lafite Rothschild 2025≈$376 a bottle▲ up 17% on the year beforeSold at auction · Romanée-Conti Grand Cru, DRC 2019$22,917 a bottleSotheby's, Sep 2026Cost to make one bottle · Burgundy grand cru (Pinot Noir)$48–283US duty on wine from · Canada+50%since Aug 2026Everyday bottle in a US shop$13.77 a litre▼ down 1.3% in a yearSep 2026Vineyard land · Margaux≈$1,567,020 a hectare▼ down 7% on 20232024Opening price · Château Cheval Blanc 2025≈$376 a bottle▲ up 22% on the year beforeSold at auction · La Tâche Grand Cru, DRC 2018$5,417 a bottleSotheby's, Sep 2026Cost to make one bottle · Champagne prestige cuvée$26–89US duty on wine from · Australia+12.5%since Jul 2026Vineyard land · Côte-Rôtie≈$1,511,055 a hectare▲ up 8% on 20232024Opening price · Château Mouton Rothschild 2025≈$336 a bottle▲ up 19% on the year beforeSold at auction · Richebourg Grand Cru, DRC 2012$3,542 a bottleSotheby's, Sep 2026Cost to make one bottle · Bordeaux classified growth (2nd–5th)$17–61US duty on wine from · New Zealand+12.5%since Jul 2026Vineyard land · Côte de Nuits grand cru≈$7,275,450 a hectare2019Opening price · Château Palmer 2025≈$268 a bottle▼ down 19% on the year beforeVineyard land · Pomerol≈$2,238,600 a hectare2023
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Australia

The world’s fifth-largest exporter, hit hard when China shut its doors in 2020 and now recovering: old-vine Shiraz in the Barossa, cool-climate Pinot in Tasmania.

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A wine scene in Barossa Valley
Pictured: Barossa Valley

About 146,000 hectares of vines. Four years of Chinese tariffs left a glut of red wine and pushed Barossa land to the cheapest of any famous region by the end of 2025, while Tasmania’s scarce cool-climate land kept rising.

The essentials

Economic facts that matter

Australia taxes wine on value (the 29% wine equalisation tax) rather than strength. Grape prices for ordinary red fell below the cost of production in 2023–2025.

Key facts

Vineyard area
≈ 146,000 haWine Australia

Regions

RegionBarossa ValleySome of the oldest vines on earth, Shiraz that built Australia’s reputation, and in 2025 the cheapest famous…Vineyards in TasmaniaRegionTasmaniaAustralia’s cool island: Pinot Noir, Chardonnay and sparkling wine from the Tamar and Coal River valleys, and…

US imports from Australia

$0.00$20$40$60201520172019202120232025US$ millions per month, customs valueYearMonthly, 2015–2026 · HS 2204, wine of fresh grapes · Source: U.S. Census Bureau
US$ millions per month, customs value, HS 2204 (wine of fresh grapes)Source: U.S. Census Bureauas of 1 August 2026

Sources

  1. Australia’s wine industry crisis and ways forward, University of Adelaide, Wine Economics Research Centre, 2024. Retrieved 6 October 2026.
Last reviewed: October 2026Report an error on this page

Related

RegionBarossa ValleyRegionTasmania