The UK recorded a trade surplus of £3.92 billion in January 2026, a sharp reversal from a deficit of £4.34 billion in the previous month. This marks the first trade surplus since September 2024, as exports rose while imports dropped. Exports grew 7.2% month-on-month to a record high of £82.51 billion, while imports fell 3.3% to a one-year low of £78.59 billion. Goods exports rose 6.7%, driven by higher shipments to both EU (6.2%) and non-EU countries. Exports to the EU were supported by increases in machinery and transport equipment, as well as fuel exports. Meanwhile, shipments to non-EU countries were led primarily by a rise in chemical exports, particularly medicinal and pharmaceutical products to China, Turkey, and Brazil.

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