New Zealand's wine exports have declined in volume and value terms over the last 12 months, new data from New Zealand Wine indicates.

In the year ended June 2024, Kiwi vintners saw the value of their shipments drop 12.2% year on year to NZ$2.1bn ($1.33bn).

Exported volumes also slid 12.5% on a year earlier to 276.2 million litres, according to the trade body’s annual report.

The declines follow “record increases in exports last year”, said New Zealand Wine, with winemakers having “endured a rollercoaster ride over the past 12 months”.

It added the drop in export shipments was driven by “reduced replenishment orders from importers, distributors, and retailers”. A mixture of “tough economic conditions”, as well as higher taxes in “some markets”, have contributed to general lower demand for New Zealand wines this year, the organisation said.

Sales to the US and the UK, the country’s top two markets, the US fell in volume and value terms. Exports to the US dropped 9.9% in volume and value to NZ$787.5m and to 97 million litres respectively.

In the UK, sales were down 17.9% at NZ$440m, with volumes declining 12.9% to 69 million litres.

The annual export volumes of New Zealand’s top two varieties, Sauvignon Blanc and Pinot Gris were also down. Sauvignon Blanc volumes dropped 11.4% to 247 million litres, with Pinot Gris volumes down 14.5% to 8.8 million litres.

Domestically, New Zealand's wine sector was affected by “demographic changes, migration and changing market dynamics”.

Estimated figures for the year suggest total sales volumes in the country declined 8% to 78.9 million litres, the lowest level seen in 20 years.

The sales volumes of New Zealand Wine are expected to be down 5.8% on 2023 to 39.9 million litres.