LUXEMBOURG / RankWire.AI / – The European Union recorded a €21.8 billion goods trade deficit in the second quarter of 2026, its first quarterly deficit since 2023. Imports from outside the bloc reached €701.8 billion, while exports totaled €680.0 billion, Eurostat said. That marked a reversal from the first quarter, when exports exceeded imports by €6.7 billion. The change came as imports increased much faster than exports during the April to June period.
EU imports rose 9.9% from the previous quarter, an increase of €63.4 billion. Exports increased 5.4%, adding €34.9 billion over the same period. Both trade flows had declined from the second quarter of 2025 before that trend ended in early 2026. The second-quarter figures show that stronger export growth was not enough to match the increase in goods entering the European Union.
Energy accounted for the largest part of the EU trade deficit. The bloc’s energy deficit widened to €101.1 billion from €71.3 billion in the first quarter. The raw-materials deficit also increased, reaching €9.4 billion from €7.9 billion. Other manufactured goods produced a €9.1 billion deficit, while the surplus in machinery and vehicles narrowed to €23.2 billion.
Energy imports widen the trade gap
Other product groups continued to generate sizeable surpluses for the European Union during the quarter. Chemicals produced a €54.0 billion surplus, up from €47.1 billion in the first quarter. Food and drinks recorded an €11.5 billion surplus, compared with €10.7 billion previously. The surplus for other goods, however, declined to €9.1 billion from €11.6 billion, adding to the broader deterioration in the trade balance.
Monthly figures showed some improvement by the end of the quarter, although the three-month balance remained negative. The EU posted a €3.9 billion goods surplus in June after recording a deficit in May. June exports reached €241.5 billion, while imports totaled €237.7 billion on a non-seasonally adjusted basis. For January through June, the bloc recorded a €14.9 billion deficit, compared with a €74.1 billion surplus a year earlier.
US and China trade remain major components
Trade with major partners remained a significant part of the EU goods picture in June. EU exports to the United States reached €45.7 billion, while imports from the country totaled €34.5 billion. That produced an €11.2 billion monthly surplus with the United States. Trade with China moved in the opposite direction, with €18.8 billion of exports and €53.9 billion of imports producing a €35.1 billion deficit.
Intra-EU trade reached €2.20 trillion during the first six months of 2026, up 5.7% from the same period last year. Eurostat said member states supplied the underlying trade information used for the latest figures. The statistical office adjusts the data for calendar and seasonal effects when preparing comparable European aggregates. The second-quarter total leaves the EU with its first quarterly goods trade deficit since the April to June period of 2023.