Tō Mātou Ahumahi Industry

• Meat and Wool export revenue has fallen since peaking in 2021-2022 but is forecast to begin recovering as global demand increases, especially from the United States and Europe.
• Across individual export products, Beef and Veal, followed by Lamb, are key contributors to the export revenue for Meat and Wool, with Beef and Veal exports forecast to increase and Lamb forecast to remain relatively stable.
• Export revenue for Carpets and other wool products saw a significant decrease from 2004 to 2020 as demand fell, however, it has continued to plateau since then.
• China and the United States are the largest export markets for Meat and Wool overall, with the United States and China the largest markets for Beef and Veal and Europe and China the largest markets for Lamb.
• Despite another fall in the Sheep, Beef, Deer and Wool Farming industry's overall contribution to GDP for 2023-2024, it is expected to increase over the next six years.   

 Industry dataset (economic indicators and labour market dynamics)  

Source: Linked Employer-Employee Data, Stats NZ¹

Note that in the source for GDP estimates, Shearing has been combined with cropping and agricultural support services. It is not possible for us to separate out the Shearing data from this estimate. It is reported here for context and completeness, but most of the contribution for this category will be related to agricultural support services (see Support Services industry).