New Zealand wine has passed a significant stepping-stone in its quest for world domination.
The latest data from Statistics New Zealand show wine exports to the USA – New Zealand’s biggest export market by value - surpassed surpassed £388mn ($500mn) for the first time, up 11% in the last year.
New Zealand wine sells at a premium in the US compared to the UK – the country’s second biggest export market.
Although exports to the US and the UK are almost the same, exports to the UK reached £297mn over the same period.
New Zealand saw a rise of £38mn (+11%) in its exports over year to March 2017, helping towards its goal of £1.6bn of exports in 2020.
Wine is now New Zealand’s fifth largest export good by value.
New Zealand wine exports to the US now represent over 30% of the total value of exports.
By value, wine exports to the US are now worth 30% more than the next most valuable market, the UK.
Global exports reached £1.2bn for the year to March, which was a new record.
Philip Gregan, CEO of New Zealand Winegrowers, said there is significant potential for further growth in North America driven by the popularity of Sauvignon Blanc.
“The new record level of wine exports into the world’s largest and most competitive market is an outstanding achievement for New Zealand wine exporters and testifies to the strong global demand for our wines,” he added.
This is currently a busy time for the New Zealand wine sector with the 2017 vintage nearing completion.
Tomorrow is also International Sauvignon Blanc Day (May 5).
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