New Zealand reports ‘muted growth’ amid Brexit concerns
New Zealand’s wine export value is now marked at a record $1.7 billion – the culmination of 23 consecutive years of growth. However, those in the trade say this year’s growth of 2.5% up to June 2018 is ‘muted’ compared to the 6% growth seen during the same period last year.
John Clarke, chair of New Zealand Winegrowers, said: “In the coming year we predict export growth will continue to be muted given that the 2018 vintage was smaller than we had hoped. The final outcome will also be affected heavily by the exchange rate, which is currently looking more favourable.”
Harpers also reports that the association has concerns about the potential impact of Brexit. According to Clarke: “The UK is the second biggest export market for New Zealand wine with $386 million in exports, and wineries will be watching closely over the next nine months to gauge the possible effects of Brexit on international trade.”