Overseas trade is an important feature of the New Zealand economy. Approximately one quarter of this country's gross national product is exported, and a similar proportion of gross domestic expenditure is in payment for imports. The viability of the whole economy is generally regarded as being closely related to the value of total export receipts. This proportion has been slowly declining, but such products still account for roughly 90 per cent of total visible exports. A brief, and largely statistical, review is presented here in order to obtain a perspect view of the New Zealand beef industry as it exists at present, and of the direction of recent changes.