In uncertain times, we remain sure that trade is a good thing and that New Zealanders can be proud of how much food we supply to the world.
Sometimes the seafood sector is criticised because we export a significant amount of what we catch. The actual ratios of export to domestic consumption are not straightforward to estimate (partly because some New Zealand-based customers then export some of what they buy) but we certainly export more than we consume locally.
This is a good thing.
The simple fact is we have the fourth-largest Exclusive Economic Zone (EEZ) in the world. That means we can sustainably produce more seafood than roughly 190 other countries (emphasis on the word sustainable). We have food to share and, as a result, we can create local jobs and support local companies.
And by the way, it’s a side argument, but for those who think exporting less would mean cheaper seafood here, sadly that’s not how it works.
New Zealand earned $2.2 billion in export revenue in 2024. That funds a lot of jobs and boosts the economy generally. But more than that, it exposes the world to us in an incredibly positive way.
Talk to our exporters and they’ll tell you demand for our seafood remains strong. The weaker New Zealand dollar helps us right now, but our reputation doesn’t depend on exchange rate variations. Our real advantage is that people love what we produce.
They love it whether its white fish in school lunches in Europe, or high-end restaurant customers in Australian or US restaurants or banqueting families in Asia. And that diversity of our markets is a strength.
Our largest export market is China (with a total value of $722 million in 2024) but the US is not far behind ($398 million).
The value of exports to the European Union (collectively across 21 European countries) for 2024 was $334 million (up from $269 million in 2023).
You might be surprised by the range and rank of EU countries that love our seafood. Our top export EU country by value was Poland at $87 million, then Spain ($81 million), then Greece ($34 million).
And outside the EU, the global diversity of our markets may also surprise you. In 2024, Cameroon made its way into our top ten export markets in eighth place ($35 million).
That diversity is a protection against sudden changes. With trade changes dominating international headlines nerves may be jangling in some quarters, but it's good to remember that New Zealand successfully negotiated two free trade agreements (FTA) in 2024. Those were an FTA with the EU which came into force in May last year and an agreement with the Gulf Cooperation Council between New Zealand and six Gulf states.
Trade makes jobs more plentiful and peace more likely. You might not think of fish as a peace offering but it is well-established that trade and harmony between countries are positively correlated.
Trade is good, and our New Zealand seafood producers and exporters are great at it. We can be proud of our role in feeding the world.
