'Record year' for French wine, spirits exports

France set a record for its wine and spirits exports with more than 10 billion euros in 2011, a 10.5 percent annual increase, the Federation of Wine and Spirits Exporters said on Tuesday. With a surplus of 8.6 billion euros ($11.3 billion), wine and spirits were the second-largest contributor to France's trade balance after the aerospace industry, the federation said. Federation president Louis Fabrice Latour told a press conference the growth was due more to a 10.5 percent rise in prices than to a 2.4 percent volume increase. Emerging market exports continued to rise and in 2011 accounted for more than one billion euros, the federation said. Europe remained the main market for French wine and spirits, at 4.1 billion euros, up three percent in 2011. Asia imported 2.5 billion euros worth, up 29 percent, and the Americas 2.1 billion euros worth, up nine percent.