WELLINGTON, May 1 (Xinhua) -- New Zealand's exports to the European Union (EU) surged by 3 billion NZ dollars over two years under a bilateral free trade agreement (FTA), the country's top trade official said Friday.
Exports to the EU hit 8.8 billion NZ dollars in 2025, up 29 percent from 5.7 billion NZ dollars two years ago, Trade and Investment Minister Todd McClay said in a statement.
The FTA provided immediate tariff cuts and better market access, turning the EU into New Zealand's fastest-growing major market and exceeding forecasts, McClay said, adding that NZ-EU bilateral trade rose 14 percent to 23.21 billion NZ dollars in 2025.
Goods exports rose 35 percent to 6.7 billion NZ dollars, while services exports increased 11 percent to 2 billion NZ dollars, led by tourism and education, statistics showed.
Among the standouts, butter exports climbed 121 percent, cheese surged 400 percent, sheep meat rose 50 percent and industrial exports increased 61 percent, the statement said, noting that fruits and vegetables jumped by more than 29 percent to 1.36 billion NZ dollars, including 1.2 billion NZ dollars for kiwifruit.
The surge in exports is flowing directly into stronger regional economies, higher incomes and more secure jobs, McClay said.
"Making full use of the agreement is vital in a time of global uncertainty and supports New Zealand's goal of doubling export value within a decade," he was quoted as saying. (1 NZ dollar equals 0.5895 U.S. dollar) ■