New Zealand Winegrowers says the industry has reached a milestone of $1 billion in exports within a 12-month period, a year ahead of schedule.

Chief executive of New Zealand Winegrowers, Philip Gregan, said the industry exported $1.01 billion of wine in the year to July 31 2009, according to Statistics New Zealand.

Winegrowers says $1 billion in wine exports in a year is the equivalent of sending five bottles offshore per second.

“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,” says Philip Gregan.

A report this year from the New Zealand Institute of Economic Research showed wine exports have grown at a compound rate of nearly 24 per cent each year for the past 20 years – four times the growth rate for all goods exports.

Wine exports represent 2.2 per cent of total goods exports and the industry supports 16,500 full-time jobs. The industry contributes more than $1.5 billion to New Zealand’s gross domestic product.

“New Zealand wine still has enormous opportunity globally with strong demand from key markets, notably Australia, the United Kingdom and the United States, as well as increasingly from Asian and continental European markets,” says Mr Gregan.

“The wine industry has grown to become an important and internationally competitive part of the New Zealand economy.

(Picture credit: Tim Hawkins, at Misha's Vineyard, Central Otago).