In the first quarter of 2026, the European Union recorded a trade surplus of €12.7 billion in goods traded with non-EU countries, according to Eurostat. While the balance remained

positive, the surplus nearly halved compared with €23.6 billion in the previous quarter (Q4 2025).

The EU has maintained a trade surplus since Q3 2023, following an extended period of deficits driven largely by elevated energy prices between late 2021 and mid-2023.

The deterioration in the overall balance in Q1 2026 was mainly driven by two factors: a reduced surplus in machinery and vehicles, which fell from €39.8 billion to €27.8 billion, and a widening deficit in energy products, which increased from €64.0 billion to €72.2 billion.

These negative developments were partly offset by improvements in other categories. The deficit in other manufactured goods narrowed significantly, from €10.9 billion to €5.0 billion, while the surplus in other goods increased from €7.2 billion to €11.5 billion.

Export performance weakened slightly, with exports contracting by 0.1% in Q1 2026, marking the fourth consecutive quarterly decline—partly linked to ongoing tariff tensions. In contrast, imports rose by 1.7%, ending three consecutive quarters of decline.

Overall, while the EU continues to maintain a positive external trade balance, the latest figures indicate a loss of momentum in goods exports combined with renewed import growth. Photo by Nsandel at English Wikipedia.