EU posts $25.4B trade deficit in Q2, 1st time since 2023

The EU recorded a trade deficit of €21.8 billion ($25.4 billion) in the second quarter of 2026, as non-EU goods imports exceeded exports, official data showed on Tuesday.

According to Eurostat, goods imports from non-EU countries reached €701.8 billion, while exports stood at €680 billion during the April-June period.

This marks the bloc's first trade deficit since the second quarter of 2023, ending a period of positive trade balances.

The trade deficit was driven primarily by an expanding energy deficit, which grew to €101.1 billion in the second quarter from €71.3 billion in the previous quarter.

Deficits also widened in raw materials, reaching €9.4 billion, and in other manufactured goods, which rose to €9.1 billion.

Meanwhile, trade surpluses declined in key sectors, as machinery and vehicle surpluses fell to €23.2 billion, and other goods dropped to €9.1 billion.

Conversely, chemical surpluses expanded to €54.0 billion, while food and drink surpluses grew to €11.5 billion.

Quarter-on-quarter, EU exports increased 5.4% or €34.9 billion, while imports surged 9.9% or €63.4 billion.

The growth halted a continuous decline in trade since mid-2025 that was previously driven by global tariff tensions.