Sector under performing but shows potential

A comparison of between New Zealand's agritechnology exports and its key competitors shows New Zealand is underperforming in size but is showing good growth.

The Coriolis Report into New Zealand's agritech sector defined New Zealand's competitors as Israel, Ireland and the United States.

The report said Israel, a tiny desert state the size of the West Coast, exported about 10 times as much agritech as New Zealand.

The performance of key competitors in various export markets pointed to some broad lessons on where New Zealand could drive more export value.

Rich, developed countries could be successful in agritech exports. The comparison with peers suggested a growth potential of five times to 10 times the current value.

New Zealand's market was ''reasonably balanced'', albeit weighted to Australia. Europe and North America stood out as having the capability to take more exports.

''New Zealand is achieving good agritech export growth rates relative to peers and appears to be `on a roll' with agritech.''

New Zealand had a robust product mix and most areas stood out as having strong growth potential, the report said.

 

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