UK Trade Deficit Narrows to £2.8 Billion as Imports Surge and Exports Drop in February 2026

Britain's goods trade has faced headwinds in recent months. In February 2026, imports rose £2.3 billion (4.7%), with non-EU imports up £1.7 billion (7.5%), boosted by car purchases from China, and EU imports gaining £0.6 billion (2.3%). Goods exports fell £0.5 billion (1.5%) to both regions, while services imports rose £0.2 billion (0.6%) and services exports gained £0.1 billion (0.3%). UK goods exports to the US climbed £0.5 billion (11.3%) on machinery and transport equipment gains, while US imports fell £0.4 billion (8.2%) on lower aircraft purchases. UK exports to the US have stayed low since April 2025 tariffs. The three-month total trade deficit narrowed £0.3 billion to £2.8 billion; the goods deficit widened £1.0 billion to £57.1 billion, while the services surplus grew £1.3 billion to £54.2 billion.