?OIV | The world's top 10 wine producing countries

The International Organisation of Vine and Wine (OIV) released data yesterday indicating that the amount of wine made in 2014 is likely to be 6 percent lower than in 2013, but this signals a return to average levels.

Eighty percent of the world's wine production is made in 10 countries. The top three (together making up a mighty 47 percent) are in Europe and the rest are in the New World, with the exception of Germany sneaking in at number 10.

The poor summer weather in Italy meant a sharp decrease in production, pushing the country into second place behind France for the first time since 2011, while Spain retains third position, producing average volumes after a bumper 2013.

It's good news for France after two consecutive years of poor volumes due mainly to bad weather at flowering, but also to more bad storms than usual. The expected volume will be 46.2 million hectoliters (hl) meaning that from the 2014 vintage 1.7 bottles out of every 10 in the world will be French.

Elsewhere in Europe, fortunes were extremely mixed. Whereas Germany's production was up by 16 percent over 2013, and Hungary's remained stable, the Eastern European wine producing countries saw major declines due to adverse weather conditions this year. Bulgaria, Romania and Slovakia recorded drops of 30, 20 and 16 percent, respectively.

Wine production from the U.S., the world's fourth largest wine producing country, remains on the high side for the third consecutive year and is expected to be around 22.5m hl.

Argentina, Australia and South Africa (respectively numbers five, six and eight on the list) saw slight increases in production, but Chile at number nine experienced a big drop in production ?22 percent down compared to 2013 ?after spring frost hit earlier-ripening white grape varieties, in particular Sauvignon Blanc. Speaking in London last month, Claudio Cilveti, managing director of Wines of Chile, was unconcerned, telling Wine Searcher that 2014 volumes normalized production levels after two very prolific years.

Outside of the top ten, a notable increase in production was achieved by New Zealand, which for the second year running saw record levels. In 2013, the country produced 2.5m hl, and in 2014 an increase of 29 percent saw that level climb to 3.2m hl. New Zealand now stands at number 13 in the list of top wine producers, jumping ahead of Greece and Brazil for the first time.

One unknown is China's wine production levels for 2014. The OIV is unable to release figures for 2014 as the country has not submitted them. China's ranking is indicated as unchanged from 2013 at number seven, behind Australia but ahead of South Africa.

The total amount of wine produced in the world in 2014 is forecast to be 271m hl with global consumption estimated at 243m hl, a level that remains stable. The surplus is considered a positive thing by the OIV ?industry mops it up to make brandy, vermouth and vinegar.

2014 world wine rankings are as follows:

1. France
2. Italy
3. Spain
4. United States
5. Argentina
6. Australia
7. China
8. South Africa
9. Chile
10. Germany