Exports remain flat as economy grows
The latest trade data released by the Office for National Statistics shows that goods exports fell by 2.6% in volume terms in February 2026, with a similar fall to both the EU and the Rest of the World.
Goods exports to the US continued to fluctuate, with a rebound of 11.3% in export values in February, led by the machinery and transport sectors. Goods exports to the US remain below levels before the 2024 Presidential election.
Services exports returned to a higher growth path in February with a 0.23% month on month increase in volume terms, but this may have been more attributable to domestic factors rather than higher global demand.
Goods imports rose by 3.9% in volume terms in February, with a 1.5% rise in EU imports of goods, and a 6.4% rise in imports from the rest of the world. Good imports from the US fell by 8.2% in February. Overall, machinery and car imports rose by £0.8bn alone month on month, led by an expansion in Chinese electric vehicle imports.
