(Decanter) -  Exports of higher-priced Australian wine to China and the US are growing, according to new figures – but the industry remains cautious in the face of the strong Australian dollar.

In the year to March 2013, 1,395 companies were involved in the export of Australian wine, up 10% on last year, according to the Wine Export Approvals Report March 2013, released by Wine Australia.

Export volumes edged up 2% to 719m litres, worth a total of AUS$1.85bn, with the average value of bottled wine exports rising 2% to AUS$4.43 per litre.

Australia exported 4m litres of wine valued above AUS$7.50/litre to the US, up 2% on last year, with a similar increase in exports above $10/litre to Canada.

In China – despite a major decline in lower price segments – exports above AUS$7.50/litre were up 28%, with average value rising 18% to AUS$5.85/litre