New Zealand is open for business and in high demand
As New Zealand reconnects with the world, we’re making the most of every opportunity to show we’re a great place to visit, trade with and invest in as part of our plan to grow our economy and build a secure future for all Kiwis.
Just this week we saw further evidence that we’re moving in the right direction, with the news that export revenue from the food and fibre sector expected to reach a record $52.2 billion this year.
Primary sector exports on track for a record $52.2 billion
Thanks to the hard work of Kiwi farmers and growers, New Zealand is in high demand. The latest Situation and Outlook for Primary Industries shows that export revenue is expected to reach a record $52.2 billion in the year to 30 June 2022.
This is an outstanding result for the primary sector, who play such a critical role in our economy. Not only is this the first time we’ve hit more than $50 billion in food and fibre exports, it’s also an increase of almost 10%, or $4.6 billion, on the previous year.
Protecting New Zealand’s clean, green brand
Around the world, consumers are increasingly demanding higher levels of sustainability in the products they buy.
To make sure farmers and growers to get greater returns for their hard work, it’s important that New Zealand stays ahead of the international curve. That’s why we’re supporting the primary sector to continue producing high quality food and fibres, while reducing emissions and protecting our environment.
This week, we took the next big step in our plan to reduce New Zealand’s greenhouse gas emissions, with He Waka Eke Noa - a world-first partnership between Government and the primary sector. This report sets out a plan for pricing and reducing agricultural emissions, which will ensure we’re doing our bit for the planet while producing the high quality beef, lamb and other exports New Zealand is famous for.
To support this, we’ve invested in a range of initiatives to speed up efforts to cut agricultural emissions, including the new Centre for Climate Action on Agricultural Emissions and more support for Māori agribusinesses.
Unlocking opportunities for Kiwi exporters
As New Zealand reconnects with the world, we’re working hard to unlock opportunities for Kiwi businesses and exporters to gain further access into important markets.
Already this year that Prime Minister has led a number of trade and tourism delegations to priority markets, such as the United States and Japan, to make sure the world knows that New Zealand is open for business.
This builds on our historic free trade agreement with the United Kingdom, which sees a boost of almost $1 billion to New Zealand’s GDP and unprecedented access for our exporters, as well as our work to progress more free trade agreements, including with the European Union which has a market of more than half a billion high income consumers.
Easing the pressure on families and businesses in the face of global inflation
All of this points to the fundamentals of our economy being strong. Through our careful economic management, we’ve delivered record low unemployment, good growth levels, and lower debt than many other countries.
We know many families and business are doing it tough, as global factors like rising inflation have an impact here at home.
However, our strong economy and responsible management means we’re able to provide further support, such as the new cost of living payment, to ease the pressure and help Kiwis through. You can read more about our work on the cost of living here.
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