The value of New Zealand’s primary sector exports is expected to increase by $505 million, to a new record high over the coming year, according to new report.
The Ministry for Primary Industries’ report forecasts a 3.8 percent increase for primary sector export earnings for the year ending June 2019, to $44.3 billion.
The Agriculture Minister said the report is encouraging.
“There’s a lot to be positive about when strong consumer demand for high-value produce and good growing conditions have, in just the past three months, nudged up forecasts by an extra half a billion dollars,” he said.
He said the report shows that primary sector exports will continue to make a strong contribution to the economy, which is forecast to grow at about 3 percent a year over the next few years.