Story · United Kingdom · 13 Aug 2026
UK goods exports fell 6.3% in June as the Q2 trade deficit widened
UK goods exports fell 6.3% between May and June 2026 while goods imports fell 0.7%; the total goods-and-services trade deficit widened to £8.0 billion in Q2 2026.
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£21.0 billion deficit
UK goods trade balance, June 2026
£8.0 billion deficit
UK goods-and-services trade balance, Q2 2026
£33.0 billion
UK goods exports, June 2026
Exam link: Trade → net exports → aggregate demand and the current account
Understand the storyExpand Close
ONS reported June 2026 goods exports of £33.0 billion, down 6.3% from May, and goods imports of £54.0 billion, down 0.7%. The total goods-and-services trade deficit widened by £0.3 billion to £8.0 billion in Q2 2026.
What happened
Goods exports fell £2.2 billion to £33.0 billion in June 2026 and goods imports fell £0.4 billion to £54.0 billion, leaving a £21.0 billion monthly goods deficit. Across Q2 2026, the total goods-and-services deficit was £8.0 billion, compared with £7.7 billion in Q1.
Why it matters
Net trade is part of aggregate demand. A wider deficit can subtract from measured demand when imports rise relative to exports, while export weakness can reduce output and employment in trade-exposed industries.
Economic context
The monthly goods figures are current-price, seasonally adjusted values and exclude non-monetary gold and other precious metals because those flows can distort the underlying trend. Services data are estimated earlier and can be revised.
All key dataExpand Close
- UK goods exports, June 2026
- £33.0 billion
- UK goods imports, June 2026
- £54.0 billion
- UK goods trade balance, June 2026
- £21.0 billion deficit
- UK goods-and-services trade balance, Q2 2026
- £8.0 billion deficit
Terms explainedExpand Close
Seasonally adjusted
The data have been adjusted to remove normal seasonal patterns, making one period easier to compare with another.
Trade balance
The difference between exports and imports. A surplus means exports exceed imports; a deficit means imports exceed exports.
Use it in an examExpand Close
Evidence
£21.0 billion deficit — UK goods trade balance, June 2026
Explain
Weaker exports relative to imports → net exports fall → aggregate demand is lower than otherwise → real output and employment may weaken in trade-exposed sectors → the trade balance can worsen the current-account position, all else equal
Evaluate
The £8.0bn figure is a goods-and-services trade deficit, not the whole current account. The current account also includes primary and secondary income. The UK also ran a £52.7bn services surplus that offset most of the £60.7bn goods deficit, while current-price figures can move because of prices as well as volumes.
Useful diagram: AD/AS diagram showing weaker net exports shifting aggregate demand left; use an exchange-rate diagram only when analysing the currency channel
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