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New Zealand vineyard. Credit: Ivo Antonie de Rooij<\/p>\n
New Zealand\u2019s wine exports have seen \u201csubdued\u201d volume growth of 5% over the last 12 months, new data from New Zealand Winegrowers have revealed.<\/p>\n
According to the regional wine association, which represents nearly 90% of total New Zealand wine sales, there was a slight decline in value of less than 1% to NZ$2.10bn ($1.2bn) over the last year.<\/p>\n
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In its latest annual report, the trade body claimed that the strongest growth in the past year has come from emerging export destinations, where shipments to China grew 47% to NZ$56m, while exports to South Korea rose by 92% to NZ$44m.<\/p>\n However, the major market for New Zealand wine remained the US, with exports valued at NZ$762m \u2013 down 3% in the past year \u2013 despite increased costs from tariffs.<\/p>\n While the tariffs have been in place since April and a further rise implemented in August, the trade body said that \u201cit is not yet possible to discern the effect of these in the export data\u201d.<\/p>\n Meanwhile, exports to second-tier markets (all those except the US, UK and Australia, which take over 70% of exports) grew 17% in the past 12 months to just under NZ$600m.<\/p>\n The winegrowing association said this \u201creflects strong trade and consumer interest as well as the ability of wineries to develop new markets with improved supply\u201d.<\/p>\n Despite the \u201csubdued\u201d export performance overall, the total retail sales value of New Zealand wine in export markets is now estimated to be NZ$4.9bn.<\/p>\n The trade association added that \u201cthis speaks positively to the reputation and standing our wines have built up over many years and is a sign of our future growth potential\u201d.<\/p>\n New Zealand Winegrowers added that \u201ctough economic conditions\u201d were having an impact on sales, as well as long-term trends such as wine consumption being at its lowest level in more than 20 years.<\/p>\n Meanwhile, the country also saw \u201cfavourable weather conditions\u201d throughout the year, providing \u201cpositive conditions for a high-quality harvest\u201d, the association said.<\/p>\n \n Sign up for our daily news round-up! Just Drinks Excellence Awards – The Benefits of Entering<\/p>\n Gain the recognition you deserve! The Just Drinks Excellence Awards<\/a> celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving beverage industry advancements. Don\u2019t miss your chance to stand out\u2014submit your entry today!<\/p>\n
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