U.S. trade deficit grows 4.8% in Feb. to record-high $71 billion

©Kyodo News

The U.S. deficit in trade of goods and services grew 4.8 percent in February from the previous month to $71.08 billion, the highest level since 1992 when comparable data became available, the Commerce Department said Wednesday.

U.S. exports dropped 2.6 percent to $187.25 billion, while imports edged down 0.7 percent to $258.33 billion.

By country, the U.S. goods trade deficit with Japan shrank 7.2 percent to $4.02 billion.

The trade deficit with China dropped 6.2 percent to $24.62 billion and that with Mexico declined 33.2 percent to $6.38 billion.

The global trade figures are measured on a balance-of-payments basis after seasonal adjustment, and the country-by-country and regional breakdowns are based on unadjusted customs-cleared data.