Key Market Indicators
**Panama's Wine Consumption on the Rise, Production Declining** Panama's wine consumption is projected to reach approximately 11,000 metric tons by 2028, up from around 10,000 metric tons in 2023. This represents an annual growth rate of about 1.8%. Since 2019, the country's demand for wine has seen a year-on-year increase of 2.1%. In 2023, Panama was ranked 63rd globally in wine consumption, with Latvia slightly ahead at a similar consumption level. Leading the global rankings were France, the United States, and Italy. In contrast, Panama's wine production is expected to decline over the same period. By 2028, production is forecasted to drop to roughly 92 metric tons, down from 100 metric tons in 2023, marking an annual decrease of 1.3%. Since 1966, Panama's wine supply has seen a consistent annual decline of 1.3%. In the 2023 rankings, Panama stood at 62nd place, with Ethiopia surpassing it with a production level of 100 metric tons. Dominating the production rankings were France, Spain, and the United States.
