You are using an older browser version. Please use a supported version for the best MSN experience.

NZ's tech exporters close in on $7b mark

NZ Newswire logoNZ Newswire 19/10/2016 Edwin Mitson

New Zealand's technology export sector delivered offshore revenue of almost $7 billion in 2015 according to the 12th annual TIN100 report.

The 13.5 per cent rise from the previous year was mainly driven by exports to the United States rising almost 26 per cent to more than $2b, a figure boosted by the rising value of the New Zealand dollar.

Exports to Europe grew by 12.5 per cent and to Asia by 11.7 per cent.

Total sales rose to $9.4b in the year since the previous report.

The Technology Investment Network (TIN), monitors the performance of New Zealand's 200 largest technology exporters in information and communication technology, high-tech manufacturing, and biotechnology. It was led by Fisher & Paykel Appliances, with revenue of $1.16b, with IT services company Datacom Group second with revenue of $1.06b followed by Fisher & Paykel Healthcare with revenues of $816 million.

Greg Shanahan,TIN managing director said, "This year's data signals that an inflexion point has been passed as the industry hits critical momentum, reflecting longer term acceleration of technology growth and a significant closure of the export earnings gap between dairy and tech."

Dairy delivered export earnings of $12b in the year to the end of June 2015.

While the Information and Communication Technology sector showed the fastest increase in revenue growth, up 17.3 per cent, manufacturing contributed the most revenue in dollar terms.

image beaconimage beaconimage beacon