The overall reduction was 19% to $408 million for the month but that was partly because of record shipments at this time last year, Statistics New Zealand international statistics senior manager Jason Attewell said.
The 2015 figures were 31% higher than the average values for July in the previous five years.
In July this year beef sales to the biggest beef market, the United States, were lower, as were lamb sales to the biggest lamb market, the European Union.
Beef sales values overall were down $33m (15%) with volumes down 2.8%, StatisticsNZ said. Exports to the US alone were down by $25m (23%) and volumes by 11%.
Lamb values overall were down $65m (29%), with volumes off by 25%. Lamb sales in the EU fell by $16m (19%) and quantities were 7% lower.
As well as coming off a record level, the meat figures reflected declining slaughter numbers and a higher value for the NZ dollar, BNZ senior economist Doug Steel said.
The currency was valued on average 8% above year-ago levels.
Dairy exports also dropped in July by value, down by $88m overall, because of a $118m (23%) fall in value for milk powder. That was caused by lower prices because volumes were nearly 1% higher.
Price and volume rises for butter and some natural milk constituents partly offset the weaker milk powder figures and cheese export values also rose slightly.
The biggest issue for milk powder was Algeria, the third biggest market for that product, where the value fell by $49m (55%) and volumes by 45%. Algeria’s status as a buyer had been weakened by the impact of oil price falls on its own export base, Attewell said.
The only major market to increase in sales was Australia, up by 5% in July over a year earlier.
Sales to China were 4.3% lower, with falls in meat, milk powder and wool offsetting greater log and rough wood sales, up $38m (34%). Sawn timber exports slipped by $3.5m in value.
All exports to the US and EU were lower because of the beef and lamb figures.
Lower kiwifruit exports, off by $15m (37%), were the main cause of drop in exports to Japan.
BNZ expects the NZ dollar to drift lower but there will be price impacts if that doesn’t happen.
Doug Steel
BNZ
Import figures included $15m more of fertiliser from China and a $12m increase in potassium fertiliser from the EU.
The BNZ expected total export growth over the next couple of years, helped by gains in horticulture offsetting expected subdued meat and dairy production.
The bank expected the NZ dollar to drift lower and Steel warned there would be price impacts if that did not happen.
Fruit exports in July were lower but that was off a very strong upward trend in recent years, a trend he expected would continue.
Total goods exports from NZ in July were $4 billion and imports totalled $4.4b.
