Although an increase in services exports helped to make up some of the deficit, the value of goods exports fell by £2.2 billion (6.3%) in June 2026, with decreases in exports to both EU and non-EU countries.
This is according to the latest trade bulletin issued by the Office for National Statistics (ONS) and available here.
The latest data show that the trade in goods deficit widened by £1.2 billion to £60.7 billion in the second quarter of the year (Q2), while the trade in services surplus was estimated to have widened by around £0.9 billion to £52.7 billion.
Reacting to the latest news, British Chambers of Commerce (BCC) Head of Trade Policy, William Bain, said: “Looking at the broader picture, the last quarter saw an increase in the value of goods exports but the long-term trend in volumes has been flat for the last three years. This is a real concern.”
He highlighted a 5.6% decline in EU exports due to lower sales of fuels (crude oil to Germany and Poland), chemicals (pharmaceutical exports to Germany), transport and machinery.
If the Government wants to use exports as a lever for economic growth, Mr Bain argued, it must reduce trade barriers with the EU, strike new deals with more countries and reverse the decline in export support.
