Food and Fibre Exports Projected to Hit Record $62 Billion in 2024

Food and fibre exports from New Zealand are expected to reach a record $62 billion in 2024, surpassing the previous high of $60.4 billion set this year. This projection is detailed in the government’s latest Situation and Outlook for Primary Industries report.

The report indicates significant growth across various sectors. Revenue from meat and wool is forecast to increase by 7 percent, while horticulture is expected to rise by 5 percent. Forestry and dairy are predicted to see more modest gains of 2 percent and 1 percent, respectively.

In a statement regarding these figures, Todd McClay, Minister of Agriculture and Forestry, expressed optimism about the results, highlighting a positive turn for New Zealand’s economy. “From meat and wool to kiwifruit and cherries, our producers are remarkable. The world wants New Zealand’s high-quality, sustainable, safe food and fibre,” McClay stated.

The food and fibre sector plays a crucial role in New Zealand’s economy, accounting for about 83 percent of the nation’s goods exports. According to McClay, the government is actively supporting this sector by reducing regulatory burdens, enhancing producer returns, providing technological solutions for agricultural emissions, and investing in rural health initiatives.

“One in every seven people work in food and fibre,” McClay noted. “A successful sector means thriving communities, a growing economy, and a prosperous New Zealand.”

The report’s findings reflect strong global demand, underpinned by favourable growing conditions and increased production in most areas. With these positive indicators, New Zealand is well-positioned to leverage its agricultural strengths and meet international needs.