Figures from Beef + Lamb New Zealand's Economic Service show the value of wool exports for the past financial year was the highest since 2004.
The earnings for 106,000 tonnes of clean wool shipped overseas to the year ending June 2012 totalled $777 million.
Economic service's executive director Rob Davison says that's 8.6% or $62 million more than in 2010-2011.
He says that follows a 30% rise in the value of exports in 2010-2011 compared with 2009-2010.
Mr Davison says it may be a surprise to many farmers that the price per tonne for all wool sold over the past year, was up 16%.
He says 72% of the wool exported in the past year was traded in US dollars, with only 19% traded in euros.