Cork exports hit record of €1.232Bn in 2023

 In Cork, Exports, News

Portuguese exports of cork reached a new record of €1.232Bn in 2023, up 2% on 2022, with bottle corks exceeding €900 million in exports for the first time according to the Portuguese Cork Association. (APCOR)

The association also highlights the positive trade balance and behaviour of sales to the US in a communiqué.
“Portuguese exports of cork hit the historic mark of €1.232Bn in 2023, a new record for the sector, corresponding to a growth of around 2% on 2022”, it states.
According to APCOR “the trade balance for the third consecutive year exceeded €900 million, having achieved €938 million”, due to a “a cover rate of imports for exports of times 4-2”, that he association calls a “solid performance”, showing the “importance and competitiveness of the sector in the international market and the great value added.”
The association also indicates that “exports to the US grew to €214 million, having exceeded the €200 million mark for the first time”,
The US market is now the second most important for the Portuguese cork exports sector after France and in front of Spain, Italy and Germany.
APCOR has revealed that bottle corks continue to be the main product exported, with value increasing by 2.1%, exceeding the €900 million mark for the first time ever.
“As a sector that exports over 90% of its production, the international situation continues to be an important factor for our performance, since it is not a sector that is immune to disruptions in supply chains and a significant slowdown in demand. This factor was evident throughout 2023, marked by strong growth in Q1 with the other quarters being stable compared to the like-for-like periods in 2023,” explained João Rui Ferreira, general-secretary of APCOR,