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In February, the value of U.S. exports totaled $165.1 billion and value of imports totaled $210.9 billion, resulting in a goods and services deficit of $45.8 billion, down from January’s $47 billion, according to the U.S. Department of Commerce’s Census Bureau and Bureau of Economic Analysis.

The value of exported goods and services dropped $2.4 billion and value of imported goods and services declined $3.6 billion compared with January values. Exports of goods decreased $2.5 billion to $118 billion and imports of goods fell $3.4 billion to $177.3 billion. However, on a year-over-year basis, the value of exported goods and services climbed 14.2 percent, and value of imported goods and services rose 14.4 percent.

The month-over-month decrease in exported goods is reflected in declining values of automotive vehicles, parts and engines ($1 billion); industrial supplies and materials ($600 million); other goods ($500 million); capital goods ($300 million); consumer goods ($200 million); and foods, feeds and beverages ($200 million), according to the commerce department. In terms of imports, declines include automotive vehicles, parts and engines ($2.3 billion), capital goods ($2.1 billion), and industrial supplies and materials ($1.4 billion), but increases were registered by consumer goods ($2.3 billion) and foods/feeds/beverages ($100 million).

“Although exports dipped in February, exports grew strongly late last year and in January,” said U.S. Commerce Secretary Gary Locke in a prepared statement. “President Obama is committed to pursuing an ambitious trade agenda that will keep our economy growing and support good jobs for U.S. workers by opening new markets.”