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News
NZ exports to US surpass $500m
New Zealand’s wine exports to the US have surpassed US$500 million for the first time according to the latest figures.
Over the past year wine exports to the US have climbed 11% by value ($49m) in the last year according to Statistics New Zealand and the US now represents 30% of the total value of exports.
The US is also now worth 30% more by value than New Zealand’s next most valuable market, the UK.
The New Zealand industry is aiming for wine exports of $2bn by 2020 and reached a new record of $1.63bn in the year ending March 2017. Wine is now the country’s fifth biggest export good by value.
Philip Gregan, CEO of New Zealand Winegrowers, commented: “New Zealand wine, especially Sauvignon Blanc, is very popular in the US and we expect consumer demand to continue to grow.”
“The new record level of wine exports into the world’s largest and most competitive market is an outstanding achievement for New Zealand wine exporters and testifies to the strong global demand for our wines.”
Earlier this year it was reported that the value of New Zealand imports to the US had also surpassed those from Australia for the first time.