New Zealand’s wine exports have grown by 5% in volume over the last year, but value has slightly decreased to NZ$2.10bn. Strongest growth came from emerging markets like China and South Korea. Despite tariffs affecting the US market, exports to second-tier markets grew by 17% to almost NZ$600m. Total retail sales value now estimated at NZ$4.9bn.

Tough economic conditions and declining wine consumption have impacted New Zealand wine sales. Favorable weather conditions led to a high-quality harvest. The wine association remains positive about growth potential due to the reputation and standing of New Zealand wines. Despite challenges, the industry is optimistic about future success.

Read more at Yahoo Finance: New Zealand wine exports up “subdued” 5%