New Zealand Winegrowers aims to reach NZD2bn in exports by 2020

New Zealand Winegrowers aims to reach NZD2bn in exports by 2020

Exports of New Zealand wine have reached the highest-ever level in value terms, according to the country's trade organisation.

New Zealand Winegrowers said yesterday that exports grew 6% to NZD1.66bn (US$1.2bn) in the year to the end of June 2017. The trade body aims to hit NZD2bn by 2020. 

Last year, the organisation reported a 10% jump in exports for the 12-month period, to just under NZD1.6bn. 

According to the 2017 report, exports to the US helped drive growth, passing NZD500m for the first time (up 12%). New Zealand wine became the third most valuable wine import into the US, behind France and Italy, the trade organisation said.

"Our premium reputation remains the greatest collective asset for New Zealand wine, and underlies the high average price our wine commands in global trade," New Zealand Winegrowers chair Steve Green said. "With diversified markets and a strong upward trajectory, the industry is in good shape to achieve NZD2bn of exports by 2020."

According to the report, wine now stands as New Zealand's fifth-largest goods export.

To read the full report, click here

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