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Emerging economies driving growth in food & beverage sector

Hon Steven Joyce
Minister for Economic Development

3 April 2012

Emerging economies driving growth in food & beverage sector

Economic Development Minister Steven Joyce has today released a report showing growth in the New Zealand food and beverage sector is being driven by the Asia-Pacific region and other emerging economies.

The report, an Investor’s Guide to the New Zealand Food & Beverage Industry 2013, says that Asia is now New Zealand’s largest export country destination, accounting for more than 40 per cent of export value.

“The report confirms China is the single largest food and beverage export destination, and Asian countries make up 10 of the top 25 destinations. The New Zealand primary sector is in the middle of a fundamental transition from feeding Westerners to feeding the Asia-Pacific region,” Mr Joyce says.

The report suggests that growth in the New Zealand food and beverage sector is being driven largely by East Asia, followed by solid performers such as Australia/Pacific and South-East Asia, and smaller but fast-growing export markets like South Africa and South Asia. Our traditional export markets like North America and Europe are growing slowly.

The Investor’s Guide to the New Zealand Food & Beverage Industry 2013 report, by Coriolis Research, is an updated version of the report of the same name from 2011. It makes a strong, factual case for investment in the New Zealand food and beverage sector.

The report is part of a suite of reports released under the Food & Beverage Information Project – the most comprehensive analysis of New Zealand’s food industry ever undertaken. The objective of the report is to makes a strong, factual case for investment in the New Zealand food and beverage sector.

The report is available at www.foodandbeverage.govt.nz.

ENDS

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