We may be shipping more meat and dairy overseas...but their overall value is trending down.

A Statistics New Zealand report shows total goods exports were down $371 million in January 2015 compared with the same month last year.

International statistics manager Jason Attewell says the lower milk prices in the past five months are the main reasons for the drop in export value.

Despite this he says record quantities of dairy and meat products have been exported this month.

Imports also fell by $142 million - putting the monthly trade balance for January at a surplus of $56 million.