Mussels farm, New Zealand.
Photo: Adobe Stock.
New Zealand’s seafood exports are forecast to reach a record $2.2 billion in the year to June 2025, with further growth projected to $2.4 billion the following year, according to the latest Situation and Outlook for Primary Industries (SOPI) report released by New Zealand's Ministry for Primary Industries (MPI).
The report, produced biannually by MPI’s Economic Intelligence Unit, highlights the performance of New Zealand’s seafood sector.
"Our seafood sector is a Kiwi success story. The sector’s hard work, healthy demand, tight global supply, and high export prices are boosting exports and driving returns to our fish farmers, fishers, and processors," said Oceans and Fisheries Minister, Shane Jones, in a press release.
"The future outlook for our seafood exports is strong. The world knows New Zealand produces amazing seafood, and we are well placed to meet global demand through our sustainable fisheries," he added.
Despite recent challenges such as adverse weather, geopolitical issues, and increased production costs, New Zealand's seafood sector is forecast to achieve a 3% revenue increase from the year 2023-2024. Jones noted that easing inflation, declining interest rates, and reduced global shipping costs are benefiting the sector.
According to the Minister, New Zealand's Coalition Government is "actively supporting" the seafood sector through several initiatives, including by extending the terms for existing marine farm coastal permits by 20 years, cutting fishing levies, and introducing new tools to tackle kina barrens.
The New Zealand government is also developing an aquaculture strategy aimed at tripling sales revenue to $3 billion by 2035, and is reforming the fisheries sector, including the removal of the annual cap on foreign fishing crew numbers, Jones said.
"We’re reducing regulatory impediments that hinder the sector’s success... I thank the seafood sector for its hard work. I am committed to working with fishers to ensure their success for the regions and the wider New Zealand economy," Jones stated.