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Wine exports are up - and the $1 billion export record is in sight.
Wine exports from New Zealand last year increased by 19 per cent over 2007, reaching a total of $904 million.
The average price per litre also increased, says New Zealand Winegrowers.
In dollar terms, the 2008 export total was $143 million more than in the year before.
Chief executive Philip Gregan says growth in the past year has been powered by strong sales in key markets, led by Australia, and increased availability of wines from Vintage 2008. In addition in recent months we have also seen some benefit from the lower value of the New Zealand dollar against the USA dollar’.
Average per litre value of exports in was $9.15 in 2008 up from $9.04 in 2007.
“The strong performance in the past year now makes it increasingly likely that annual New Zealand wine exports will reach $1 billion some time in calendar year 2009, one year earlier than previously forecast,” said Mr Gregan.
He noted, however, that despite the success in 2008, the coming year would be more challenging for wine exporters.
“To date the economic downturn appears to have impacted wine exports only minimally. However, there is increased uncertainty about market performance in the year ahead which may yet impact on export growth.”
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