The value of wool exports for the past financial year was up almost 30% on the previous year, figures from Beef + Lamb's Economic Service show.
Almost 114,000 tonnes of clean wool worth $715 million was shipped overseas.
The economic service's executive director, Rob Davison, says that's a major improvement on recent years, and the best return since 2004 when wool exports were worth $740 million.
Mr Davison says more than two thirds of the wool exported in the past year was traded in US dollars and 20% in euros.
