NZ exports hit $1 billion target

Published: 16 September, 2009

New Zealand's wine producers have reached a $1 billion target for exports - a year ahead of schedule according to industry body New Zealand Winegrowers.

New Zealand's wine producers have reached a $1 billion target for exports - a year ahead of schedule, according to industry body New Zealand Winegrowers.

Chief executive Philip Gregan said exports reached $1.01 billion in the year to July 31.

"The wine industry has grown to become an important and internationally-competitive part of the New Zealand economy," said Gregan.

"New Zealand wine still has enormous opportunity globally, with strong demand from key markets, notably Australia, the UK and the US, as well as increasingly from Asian and continental European markets."

Wine accounts for 2.2% of all New Zealand exports, and a recent report from the New Zealand Institute of Economic Research, showed that wine exports had grown at a compound rate of 23.8% per year for the past 20 years.

Gregan added: "The phenomenal long-term growth of New Zealand wine exports has been based on an industry-wide commitment to world class quality in our vineyards, in our wineries and in our marketing and sales efforts."

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