Exports fell six percent in the March quarter to $11.4 billion.
The decrease was led by falls in the value of milk powder, butter, cheese, crude oil, and fruit exports.
Statistics New Zealand says imports have been steadily increasing as well, primarily due to crude oil, which is at its highest quarterly value and quantity.
The seasonally adjusted trade balance for the March quarter was a deficit of $787 million.
That's equivalent of almost seven percent of exports.