New Zealand exports catching up with Australian wine exports

New Zealand Exports for the last 12 months reached £1 billion for the first time, while at the same time Australian exports dropped to £1.11 billion. The rise in the value of New Zealand wines has been attributed to price rises in the US market, even though the total exports to the rest of the world fell by 4%.

Meanwhile, Australian exports have been a rollercoaster ride over the last 20 years. Back in 2002 Australia exported around AUD$2 billion. This peaked in Sept 2007 at AUD$3 billion before crashing after the 2008 global recession. Total export volumes bottomed out at just below AUD$2 billion around 2012. Back then sales to China were trivial but now, while, sales to the rest of the world stayed flat, sales to China increased to AUD$1.2 billion giving Australia peak export value in 2020 of just over AUD$3 billion. However, since 2020, sales to China have all but vanished, with sales to the rest of the world increasing slightly back to AUD$2 billion.