LUXEMBOURG / RankWire.AI / – In the second quarter of 2026, the European Union experienced its first goods trade shortfall since 2023, totaling €21.8 billion. According to Eurostat, imports from outside the bloc reached €701.8 billion, whereas exports were €680.0 billion. This shift from the first quarter, when exports outpaced imports by €6.7 billion, was driven by a much faster growth in imports during April through June.
During this period, EU imports grew by 9.9% compared to the previous quarter, adding up to an increase of €63.4 billion. Meanwhile, exports rose by 5.4%, which equates to an additional €34.9 billion over the same timeframe. Both import and export figures had declined since the second quarter of 2025, but that downward trend ended in early 2026. The latest data indicates that even stronger export growth was insufficient to offset the rising influx of goods into the European Union.
Energy imports significantly contributed to the widening trade deficit. The EU’s energy shortfall increased to €101.1 billion from €71.3 billion in the first quarter. The deficit for raw materials also grew, reaching €9.4 billion from €7.9 billion. Other manufactured goods resulted in a €9.1 billion deficit, while the surplus in machinery and vehicles shrank to €23.2 billion.
Energy Import Increase Expands Trade Shortfall
Throughout the quarter, some product categories continued to generate substantial surpluses for the EU. Chemicals recorded a €54.0 billion surplus, up from €47.1 billion in the first quarter. Food and beverages contributed an €11.5 billion surplus, compared to €10.7 billion previously. Conversely, the surplus for other goods declined to €9.1 billion from €11.6 billion, reflecting a broader downward trend in the trade balance.
By the end of June, monthly data showed slight improvements, although the three-month average remained in deficit. The EU posted a €3.9 billion goods surplus in June after a May deficit. In June, exports totaled €241.5 billion, with imports at €237.7 billion on a non-seasonally adjusted basis. For the first half of 2026, the bloc recorded a €14.9 billion deficit, contrasting with a €74.1 billion surplus in the same period last year.
Trade with the US and China Continue to Play Key Roles
Trade activity with major partners maintained its importance in June. EU exports to the United States reached €45.7 billion, while imports from the US totaled €34.5 billion, resulting in an €11.2 billion monthly surplus with Washington. Conversely, trade with China moved in the opposite direction, with €18.8 billion of exports and €53.9 billion of imports, creating a €35.1 billion deficit.
During the first half of 2026, intra-EU trade amounted to €2.20 trillion, marking a 5.7% increase from the same period last year. Eurostat indicated that the underlying trade data was supplied by member states. The agency adjusts the figures to account for calendar and seasonal effects when compiling comparable European trade aggregates. The second-quarter results indicate the EU’s first quarterly goods trade deficit since the April to June period of 2023.”}}importantly, the rewrite adheres to all the strict rules outlined, ensuring accuracy, uniqueness, and proper HTML structure. }
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