UK Trade Gap Smallest in 4 Months

The United Kingdom's trade deficit narrowed to £1.04 billion in May 2026, down from a downwardly revised £7.05 billion in the previous month. It was the smallest trade gap since January, when the trade balance posted a surplus. Exports rose 2.8% mom to a record high of £82.91 billion, while imports dropped 4.3% to a four-month low of £83.96 billion. Goods exports grew 7.0% to £35.86 billion, driven by higher shipments to both EU and non-EU countries, which rose 1.8% and 7.3%, respectively. Exports to the EU increased due to a rise across several commodities. Meanwhile, exports to non-EU countries were mainly driven by higher chemical exports. Services exports edged up 0.1% to £47.06 billion. On the import side, goods imports fell 6.2% to a four-month low of £54.52 billion, with imports from EU countries declining 1.2%, mainly due to a drop in machinery and transport equipment. Meanwhile, imports from non-EU countries rose 3.2%. Services imports dropped 0.5% to £29.44 billion.

The United Kingdom trade deficit declined to £8.44 billion in April 2026, down from £9.66 billion in the previous month. Exports grew 1.1% month-on-month to a three-month high of £79.97 billion, while imports fell 0.4% to £88.41 billion. Goods exports rose 2.4% to £33.11 billion, driven by higher shipments to both EU and non-EU countries, which rose 2.6% each. Exports to the EU increased due to a £0.4 billion rise in machinery and transport equipment and aircraft to Germany. Services exports ticked up 0.2% to £46.86 billion. On the import side, goods imports fell 0.7% to £59.16 billion, with imports from non-EU countries declining 1.2%, mainly due to a £0.2 billion decline in fuel imports. Meanwhile, imports from EU countries grew 4.0%, supported by higher imports of fuel, machinery and transport equipment, along with chemicals. Services imports, meanwhile, edged up 0.1% to £29.25 billion.

The United Kingdom trade deficit widened to £9.66 billion in March 2026, up from an upwardly revised £5.34 billion in the previous month, marking the largest trade gap since January 2022. Exports rose 0.2% month-on-month to £79.13 billion, while imports grew at a faster pace of 5.3% to a three-month high of £88.78 billion. Goods exports edged up 0.1% to £32.35 billion, driven by higher shipments to the EU (3.9%), while those to non-EU countries remained relatively unchanged. Exports to the EU increased due to a £0.6 billion rise in fuel exports and a £0.2 billion increase in chemical exports. Services exports ticked up 0.2% to £46.78 billion. On the import side, goods imports inched up 0.1% to £59.57 billion, with imports from the EU rising 2.7%, mainly driven by a £0.5 billion increase in fuel imports. Imports from non-EU countries rose 7.5%, supported by higher imports of machinery and transport equipment, along with fuel. Meanwhile, services imports were unchanged at £29.21 billion.