U.S. Overtakes U.K. As Second-Largest Export Market For New Zealand WinesOctober 23, 2013
New Zealand wine exports rose 3% by value in the year through June, to NZ$1.2 billion ($1b), even as volume fell 5% to 170 million liters, according to the New Zealand Winegrowers trade group. The value increase was driven largely by the U.S., which contributed 13% growth to NZ$284 million ($242m) on a volume rise of 10% to 43.4 million liters.
The U.S. overtook the U.K. (-2% to NZ$278 million/$237m) as New Zealand wine’s second-largest export market by value during the year, though it still ranks behind Australia, which was down 2% to NZ$373 million ($318m). While dropping slightly by value, volume to both Australia (-7% to 50 million liters) and the U.K. (-17% to 48 million liters) fell more markedly during the period. Other countries posting strong value growth for New Zealand wines included Canada (+10%), China (+6%), Hong Kong (+11%) and Germany (+25%).
“The rise in export value was driven by a shift toward packaged products, higher prices for bulk wines and a move to higher value markets, notably North America,” said New Zealand Winegrowers chairman Steven Green. “However, the strong New Zealand dollar continued to blunt returns back to producers.”Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.