Australia and Oceania: Rum Market 2024

Rum Exports

Exports in Australia and Oceania

In 2022, rum exports in Australia and Oceania skyrocketed to X litres, growing by 42% against the year before. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 45%. Over the period under review, the exports attained the maximum at X litres in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, rum exports soared to $X in 2022. Total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.1% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia prevails in exports structure, amounting to X litres, which was near 89% of total exports in 2022. Papua New Guinea (X litres), New Zealand (X litres) and French Polynesia (X litres) took a little share of total exports.

Exports from Australia increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, French Polynesia (+32.2%) and Papua New Guinea (+7.3%) displayed positive paces of growth. Moreover, French Polynesia emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +32.2% from 2012-2022. By contrast, New Zealand (-20.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia, French Polynesia and Papua New Guinea increased by +22, +2.1 and +1.9 percentage points, respectively.

In value terms, Australia ($X) remains the largest rum supplier in Australia and Oceania, comprising 84% of total exports. The second position in the ranking was held by French Polynesia ($X), with a 4.7% share of total exports. It was followed by New Zealand, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value in Australia stood at +6.0%. The remaining exporting countries recorded the following average annual rates of exports growth: French Polynesia (+23.3% per year) and New Zealand (-15.8% per year).

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per litre, growing by 15% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rum export price increased by +1.5% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 68% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was French Polynesia ($X per litre), while Papua New Guinea ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.4%), while the other leaders experienced mixed trends in the export price figures.

Rum Imports

Imports in Australia and Oceania

In 2022, overseas purchases of rum increased by 17% to X litres, rising for the second consecutive year after four years of decline. Over the period under review, imports, however, recorded a perceptible reduction. Over the period under review, imports reached the maximum at X litres in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, rum imports totaled $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Australia represented the major importer of rum in Australia and Oceania, with the volume of imports resulting at X litres, which was near 58% of total imports in 2022. It was distantly followed by New Zealand (X litres), comprising a 31% share of total imports. New Caledonia (X litres) and French Polynesia (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for French Polynesia (with a CAGR of +11.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Australia ($X), New Zealand ($X) and New Caledonia ($X) were the countries with the highest levels of imports in 2022, together accounting for 93% of total imports. These countries were followed by French Polynesia, which accounted for a further 2.3%.

French Polynesia, with a CAGR of +15.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per litre, which is down by -11.5% against the previous year. In general, the import price, however, recorded a strong expansion. The growth pace was the most rapid in 2018 an increase of 42% against the previous year. Over the period under review, import prices reached the maximum at $X per litre in 2021, and then dropped in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in French Polynesia ($X per litre) and New Caledonia ($X per litre), while New Zealand ($X per litre) and Australia ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Caledonia (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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