New Zealand’s primary industry producers are on track to surpass $60 billion in export revenue for the first time, Agriculture and Forestry Minister, Todd McClay, announced today at Fieldays.
The latest Situation and Outlook for Primary Industries (SOPI) report forecasts export earnings of $59.9 billion for the year ending 30 June 2025 – $3 billion higher than projected in December.
“This momentum is expected to continue, with exports reaching $65.7 billion by 2029,” said Mr McClay.
“These figures reflect the hard work and resilience of the hard working men and women of provincial New Zealand.
“Strong global demand and healthy prices across key markets are positioning our high-quality, safe and sustainable food and fibre exports for record growth,” he said.
Growth highlights include:
- dairy export revenue lifting 16% to reach a record $27 billion;
- meat and wool export revenue increasing 8% to $12.3 billion;
- horticulture export revenue growing by an impressive 19% reaching $8.5 billion;
- forestry export revenue jumping 9% to $6.3 billion;
- Seafood export revenue lifting 2% to $2.2 billion.
“The numbers speak for themselves, but the Government remains laser-focused on doubling the value of exports in 10 years, driving higher farm and forest gate returns, and backing the long-term capability, resilience, and health of rural New Zealand,” Mr McClay says.
“We’re investing heavily to deliver tools and technology to farmers and growers to tackle agricultural emissions with more than $400 million in continuing funding over the next four years and making targeted reforms to support farmer and grower success.
“Through the Budget, we launched the new $246 million Primary Sector Growth Fund (PSGF) to boost on-farm productivity and resilience.
“Our trade work continues at pace to open doors for Kiwi exporters, and our new Investment Boost tax incentive will encourage businesses to invest, be more competitive, grow the economy, and lift wages.
“When rural New Zealand does well, the whole country benefits,” Mr McClay says.
“That’s why we’re making sure our Primary Sector have the tools and support they need to deliver long-term economic growth and regional prosperity for all New Zealanders.”
Meanwhile, New Zealand’s aquaculture sector has experienced double-digit growth in export revenue over the past year, sending a clear signal that more is to come from the enormously promising sector, says Oceans and Fisheries Minister, Shane Jones.
Aquaculture products are projected to bring in $650 million in export revenue for the year to 30 June 2025 – up 13% on last year.
The increase has been driven by increased production of high-value products such as mussels and salmon.
“This is a sector with potential for massive growth over the next decade, supported by the hard work and innovation of thousands of New Zealanders who bring our sustainable products to the world,” Mr Jones says.
“The Coalition Government is super-charging the industry, with a goal of growing the aquaculture industry to $3 billion in annual revenue by 2035.
“Growing our aquaculture industry will have huge benefits for the economic prosperity of New Zealand, with the potential to create thousands of jobs in the regions and contribute substantially to achieving a doubling exports over the next 10 years.
“These results show we are making great progress on the path identified in the New Zealand Aquaculture Development Plan I announced earlier this year. I expect to see even more substantial growth in coming years as the plan progresses,” Mr Jones says.
“We are removing unnecessary barriers for industry by extending marine consents, giving marine farmers the certainty they need to invest in their operations, including open-ocean aquaculture products in the Fast-track Approvals Act.
‘Innovation is another important factor in this growth. Government has invested $11.72m in a project to boost open-ocean aquaculture around the country.”
Exports for the seafood sector as a whole is forecast to rise 2% to $2.2 billion for the year to 30 June 2025, with a slight decrease in volume exported being offset by the highest per kilogram price for New Zealand seafood on record.
“Demand for our seafood across a diverse range of international markets has meant that our seafood sector has performed strongly despite trade uncertainties over the year,” said Mr Jones.
The June 2025 SOPI is available at: www.mpi.govt.nz/sopi.
