South Africa is one of the biggest wine producers and exporters in the world – but the relative affordability of our offerings means the country does not benefit as much financially as some of its counterparts.

This is according the latest data from the International Organisation of Vine and Wine (OIV), detailing reported and estimated data on the global wine industry in 2014.

Global wine production, excluding juice and musts, is expected to hit 279 million hectolitres (mhl) in 2014 – a decrease of 4.1% compared with 2013, according to the OIV.

One hectolitre represents 100 litres.

In 2013, the group recorded 291 mhl of wine produces, just short of the biggest wine production year in the last decade, 2004, when just under 300 mhl of wine was produced.

South Africa is listed as the 7th largest wine producer in the world, with an output of 11.3 mhl in 2014, sitting below Australia (12 mhl) and ahead of China (11.1 mha) and Germany (9.3 mha).