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New Zealand Wine Exports Reach NZ$1 Bln Mark

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Wednesday, New Zealand Winegrowers announced that the wine industry hit the NZ$1 billion mark in annual exports, a full year ahead of schedule.

Wine exports from New Zealand were worth NZ$1.01 billion in the year to July 31, which equals five bottles per second.

Chief executive of the industry body, Philip Gregan, said, "The phenomenal long-term growth of New Zealand wine exports has been based on a industry-wide commitment to world class quality, in our vineyards, in our wineries and in our marketing and sales efforts."

Wine exports make up 2.2% of all goods exports from New Zealand and the industry contributes more than NZ$1.5 billion to the nation's GDP, while supporting 16,500 full-time jobs.

"The wine industry has grown to become an important and internationally-competitive part of the New Zealand economy," Gregan noted.

(Market News Provided by RTTNews)

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