(ThePortugalNews) - Nine monthly wine exports break the half billion mark Portuguese wine exports put on growth of 4.5% in the first nine months of this year to exceed €500 million, the Institute of Vines and Wines has reported.

A statement from the institution reported that the third quarter had been the most favourable thus far this year with overall exports up 7.4% while non-EU exports surged 15.2% to represent 49% of total exports in this period.

The institute furthermore added that the year-on-year figures for the first nine months of 2013 not only saw a 4.5% rise in exports but also an 11.1% rise in average prices due to what was termed a balancing off of prices levied in EU and non-EU markets.

The institute identified Angola, the United States, Canada, Brazil and Switzerland as among the key emerging export markets, stressed that the third quarter results were the best since 2010 before concluding that the year-end target of €700 million in wine exports was feasible and for the second year running.