New Zealand wine exports reach a record high

Photography by: John Hay/Lonely Planet Images | Getty Images

New Zealand wine exports valued at $1.66 billion, according to the 2017 Annual Report of New Zealand Winegrowers

According to the 2017 Annual Report of New Zealand Winegrowers, the export value of New Zealand wines is now valued at $1.66 billion, up six percent in June year-end 2017. Wine is now New Zealand’s fifth largest goods export.

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The report states that over the past two decades, the New Zealand wine industry has achieved an average annual export growth of 17%.

"With diversified markets and a strong upward trajectory, the industry is in good shape to achieve $2 billion of exports by 2020," Steve Green, chair of New Zealand Winegrowers, says.

Exports to the US have led the growth, according to the report, passing the $500 million mark for the first time. New Zealand wine is now the third most valuable wine import into the US, the other two being France and Italy.

Steve says that to continue achieving value growth, it’s important for the New Zealand wine industry to maintain its focus on safeguarding and growing its reputation as a quality product.

"Our premium reputation remains the greatest collective asset for New Zealand wine, and underlies the high average price our wine commands in global trade," he says.

He added that the Geographical Indications (Wine and Spirits) Registration Act and initiatives such as the Sustainable Winegrowing New Zealand Continuous Improvement extension programme would help to maintain and grow the reputation that New Zealand wine boasts as a premium product.

Read about two New Zealand wines get an Exceptional rating at a Decanter Wine Panel Tasting.

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