MPI forecasts brighter days ahead for primary sector exports after this year's dip

MPI forecasts brighter days ahead for primary sector exports after this year's dip
Shane Jones says his focus is on reducing the cost of production for marine farmers, to stimulate growth. (Image: NZME)
Kaya Selby
Primary sector export revenue is forecast to fall 5% year-on-year in the 12 months to the end of this month before starting to recover.According to a report from the Ministry for Primary Industries (MPI), export revenue will fall to $54.6b in the current June year from $57.4b in the year to June 30, 2023.  It is then seen increasing to $58.1b in the year to June 30, 2025.The forecast indicates that New Zealand is set for record export growth from 2025 onwards, with revenue rising as high as $66.5b in 2028, up 39% from 2020.Dairy,...

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Staff reporters 16 Jul 2024