- Hon Todd McClay
Farmers, growers, foresters, fishers and primary processors are driving New Zealand's economic recovery with export revenue on track to surpass $60 billion 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," Mr McClay says.
"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."
Growth highlights include:
- dairy export revenue lifting 16 per cent to reach a record $27 billion
- meat and wool export revenue increasing 8 per cent to $12.3 billion
- horticulture export revenue growing by an impressive 19 per cent reaching $8.5 billion
- forestry export revenue jumping 9 per cent to $6.3 billion
- Seafood export revenue lifting 2 per cent 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."
The June 2025 SOPI is available at: www.mpi.govt.nz/sopi
