The European Union recorded a €21.8 billion goods trade deficit in Q2 2026, its first quarterly deficit since 2023.
Imports from non-EU countries reached €701.8 billion, while exports totalled €680 billion during the quarter.
The reversal was largely driven by energy products, where the deficit widened from €71.3 billion to €101.1 billion.
Deficits also increased for raw materials and other manufactured goods during the second quarter.
Meanwhile, the EU’s machinery and vehicles surplus declined from €24.9 billion to €23.2 billion.
However, some sectors performed strongly. The chemicals trade surplus increased from €47.1 billion to €54 billion.
Food and drinks also improved, with their surplus rising from €10.7 billion to €11.5 billion.
Overall exports increased 5.4% compared with the previous quarter, while imports climbed significantly faster at 9.9%.
Greater imports ultimately pushed the EU back into a trade deficit.
The result ends a run of quarterly surpluses following the energy-related trade deficits recorded between 2021 and 2023.
