In the second quarter of 2026, the EU recorded a trade deficit of €21.8 billion, as goods imported from non-EU countries (€701.8 billion) exceeded exports (€680.0 billion). This is the first trade deficit registered since the second quarter of 2023, the last of a series of deficits fuelled by soaring energy costs observed between late 2021 and mid-2023.
The deficit in the trade balance was primarily due to an increase in the deficit on energy products (from -€71.3 billion in Q1 2026 to -€101.1 billion in Q2 2026), raw materials (from -€7.9 billion to -€9.4 billion) and other manufactured goods (from -€8.3 billion to -€9.1 billion). Additionally, there was a reduction in the surplus of machinery and vehicles (from €24.9 billion in Q1 2026 to €23.2 billion) and other goods (from €11.6 billion to €9.1 billion).
On the other hand, there were surplus increases for chemicals (from €47.1 billion to €54.0 billion) and food and drinks (from €10.7 billion to €11.5 billion).
EU trade balance for goods, by product group, Q1 2021-Q2 2026 (€ billion, seasonally adjusted data). Bar chart for product groups and line chart for total trade balance. Link to full dataset below. (....)