“Lower milk powder prices in the last five months, compared with the same months a year earlier, are the main reason exports have been falling,” international statistics manager Jason Attewell said.
“Although export values fell, we saw record quantities of dairy and meat exports for a January month.”
A 20% rise in meat exports partly offset the fall in monthly exports led by frozen beef, up 53%.
Imports fell $142 million, or 3.8%, to $3.6b. The fall was led by intermediate goods – such as crude oil and automotive diesel – down 9.8%. The monthly trade balance for January was a surplus of $56m.
Seasonally adjusted exports rose 2.7% in January 2015, led by increases in fruit and wine exports, compared with December 2014. Seasonally adjusted imports fell 8.5%.
