UK overseas trade in goods statistics January 2026: commentary
Published 13 March 2026
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Trade in goods summary
Data behind this bulletin is available through the UK Trade Info website, where users can build their own tables according to the countries, commodities, and ports selected.
For more information on how we compile the trade in goods statistics, users must refer to the accompanying methodology notes. Further information about trade in non-monetary gold (NMG) can be found in the monthly gold table.
Total exports of goods for January 2026
£31.7 billion up £2.3 billion, or 8%, on December 2025, down £13.6 billion, or 30%, on January 2025
Total imports of goods for January 2026
£63.7 billion down £7.1 billion, or 10%, on December 2025, up £12.1 billion, or 24%, on January 2025
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
The UK was a net importer this month, with imports exceeding exports by £32.0 billion, narrowing the trade gap by £9.3 billion compared with December 2025.
Figure 1: Total UK monthly trade in goods, August 2024 to January 2026
Figure 1 shows total exports, imports and the trade gap for the period from August 2024 to January 2026.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Download figure 1: Total UK monthly trade in goods, August 2024 to January 2026 (ODS, 13.2 KB)
Note: 2025 and 2026 data is provisional.
Exports increased in January 2026, while imports decreased by a greater magnitude, both driven by Precious metals. As a result of this, the trade gap narrowed.
Impact of non-monetary gold (NMG)
Movements in NMG can be large and highly volatile, impacting underlying trends in trade figures. More information can be found in the accompanying methodology notes and in the monthly gold table.
Figure 2: Total UK monthly trade in goods including and excluding NMG, August 2024 to January 2026
Figure 2 shows exports and imports including and excluding non-monetary gold.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
NMG exports increased by £0.7 billion in January 2026, alongside a £1.6 billion increase across all other exports.
Imports of NMG decreased by £7.8 billion, but all other imports increased by £0.8 billion.
Table 1: Total UK monthly imports of NMG from non-EU countries by value and net mass, December 2025 to January 2026
| Month of account | Value (£ billion) | Net mass (kg) | Unit price per kg (£) | |
|---|---|---|---|---|
| December 2025 | 20.8 | 206,283 | 100,726 | |
| January 2026 | 12.7 | 177,005 | 71,691 |
Source: UK overseas trade in goods statistics from HM Revenue & Customs
The decrease in imports of NMG was largely driven by a notable decrease in unit price from non-EU countries on December 2025, down 29%. This was compounded with a decrease in quantity, down 14% on the same period. Combined, these led to a decrease in value of 39%.
EU and non-EU trade in goods
Exports to the EU accounted for 46% of the total value of exports, or 48% when excluding NMG.
Imports from the EU accounted for 40% of the total value of imports, or 49% when excluding NMG.
Table 2: Total UK trade in goods with EU and non-EU, including and excluding the impact of NMG, January 2026 (£ billion)
| Flow | EU |
EU excl NMG |
Non-EU |
Non-EU excl NMG |
Total | Total excl NMG |
|---|---|---|---|---|---|---|
| Exports | 14.6 | 14.4 | 17.1 | 15.5 | 31.7 | 29.9 |
| Imports | 25.3 | 24.4 | 38.4 | 25.7 | 63.7 | 50.1 |
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
EU exports for January 2026 were £14.6 billion. This was an increase of £1.1 billion, or 8%, on December 2025, but a decrease of £0.2 billion, or 1%, compared with January 2025.
Non-EU exports for January 2026 were £17.1 billion. This was an increase of £1.1 billion, or 7%, on December 2025, but a decrease of £13.4 billion, or 44%, compared with January 2025.
EU imports for January 2026 were £25.3 billion. This was a decrease of £0.4 billion, or 2%, on December 2025, but an increase of £1.3 billion, or 5%, compared with January 2025.
Non-EU imports for January 2026 were £38.4 billion. This was a decrease of £6.7 billion, or 15%, on December 2025, and an increase of £10.8 billion, or 39%, compared with January 2025.
Figure 3: Total UK monthly trade in goods with EU and non-EU, August 2024 to January 2026
Figure 3 shows total exports and imports for EU and non-EU trade for the period from August 2024 to January 2026.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
EU exports increased by £1.1 billion in January 2026. Non-EU exports also increased by £1.1 billion, driven by Precious metals.
EU imports decreased by £0.4 billion in January 2026. Non-EU imports decreased by £6.7 billion, driven by Precious metals.
Exports: Country analysis
You can explore more UK export country data in the interactive data tables.
China had the largest value increase on December 2025, up 87%.
The USA had the largest value decrease on January 2025, down 69%.
Table 3: UK exports of goods to the top 5 partner countries, value comparison with December 2025 and January 2025 (£ million)
| Partner country | January 2026 | December 2025 | January 2025 |
|---|---|---|---|
| USA | 3,626 | 4,125 | 11,583 |
| Germany | 2,900 | 2,360 | 2,679 |
| Netherlands | 2,653 | 1,893 | 2,548 |
| China | 1,985 | 1,062 | 671 |
| Ireland | 1,828 | 1,867 | 1,834 |
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
The USA remained the largest export partner country by value in January 2026, despite a decrease in value on December 2025, down £499 million. This was led by Motor vehicles and Mechanical appliances. It also decreased in value on January 2025, down £8.0 billion. This was dominated by Precious metals.
Germany remained the second largest export partner in January 2026. It had an increase in value on December 2025, up £541 million. This was led by Precious metals. It also had an increase in value on January 2025, up £222 million. This was led by Mechanical appliances and Aircraft but partially offset by Precious metals.
The Netherlands remained the third largest export partner in January 2026. It had an increase in value on December 2025, up £760 million. This was driven by Mechanical appliances and Mineral fuels. It also had an increase in value on January 2025, up £104 million. This was driven by Mechanical appliances but partially offset by Mineral fuels.
China rose to fourth place in January 2026, up from seventh. It had an increase in value on December 2025, up £923 million. This was dominated by Precious metals. It also had an increase in value on January 2025, up £1.3 billion. This was also driven by Precious metals.
Figure 4: Historical export values for the top 3 export partner countries, August 2024 to January 2026
Figure 4 shows the values for the top 3 export partner countries for the period from August 2024 to January 2026.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
The USA accounted for 11% of the UK’s total exports in January 2026. This was down from 14% in December 2025 and down from 26% in January 2025. Exports to the USA decreased by 12% on December 2025 and decreased by 69% on January 2025.
Germany accounted for 9% of total exports in January 2026. This was up from 8% in December 2025 and up from 6% in January 2025. Exports to Germany increased by 23% on December 2025 and increased by 8% on January 2025.
The Netherlands accounted for 8% of total exports in January 2026. This was up from 6% in both December 2025 and January 2025. Exports to the Netherlands increased by 40% on December 2025 and by 4% on January 2025.
Exports: Chapter analysis
You can explore more UK export chapter data in the interactive data tables.
Precious metals had the largest value increase on December 2025, up to 2.5 times the value.
Precious metals had the largest value decrease on January 2025, down 71%.
Table 4: UK exports of goods of the top 5 chapters, value comparison with December 2025 and January 2025
(£ million)
| Chapter | January 2026 | December 2025 | January 2025 |
|---|---|---|---|
| Mechanical appliances | 7,366 | 7,000 | 6,147 |
| Precious metals | 5,350 | 2,176 | 18,166 |
| Motor vehicles | 2,139 | 2,645 | 2,630 |
| Electronic equipment | 2,009 | 2,084 | 1,781 |
| Mineral fuels | 1,778 | 1,633 | 3,167 |
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
Mechanical appliances remained the top export chapter in January 2026. It increased in value on December 2025, up £367 million, dominated by the Netherlands. It also had an increase in value on January 2025, up £1.2 billion. This was driven by the Netherlands, China, and Singapore.
Precious metals rose to second place in January 2026, up from third. It had an increase in value on December 2025, up £3.2 billion. This was driven by China, India, Switzerland, and the UAE, partially offset by Azerbaijan. In contrast, it had a decrease in value on January 2025, down £12.8 billion. This was driven by the USA, Switzerland, and Azerbaijan, partially offset by China, India, and the UAE.
Motor vehicles fell to third place in January 2026, down from second. It had a decrease in value on December 2025, down £506 million. This was led by the USA. It also had a decrease in value on January 2025, down £491 million, also led by the USA.
Figure 5: Historical export values for the top 3 export chapters, August 2024 to January 2026
Figure 5 shows the values for the top 3 export chapters for the period from August 2024 to January 2026.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
Mechanical appliances accounted for 23% of the UK’s total exports in January 2026. This was down from 24% in December 2025 but up from 14% in January 2025. Exports of Mechanical appliances increased by 5% on December 2025 and by 20% on January 2025.
Precious metals accounted for 17% of the UK’s total exports in January 2026, up from 7% in December 2025 but down from 40% in January 2025. Exports of Precious metals increased to 2.5 times the value on December 2025 but decreased by 71% on January 2025.
Motor vehicles accounted for 7% of the UK’s total exports in January 2026, down from 9% in December 2025 but up from 6% in January 2025. Exports of Motor vehicles decreased by 19% on both December 2025 and January 2025.
Imports: Country analysis
You can explore more UK import country data in the interactive data tables.
Switzerland had the largest value decrease on December 2025, down 33%.
Switzerland had the largest value increase on January 2025, up to 4.5 times the value.
Table 5: UK imports of goods from the top 5 partner countries, value comparison with December 2025 and January 2025 (£ million)
| Partner country | January 2026 | December 2025 | January 2025 |
|---|---|---|---|
| USA | 9,228 | 6,854 | 5,541 |
| Switzerland | 7,006 | 10,443 | 1,557 |
| Germany | 6,095 | 5,763 | 5,279 |
| China | 5,107 | 5,324 | 5,223 |
| Netherlands | 3,664 | 3,798 | 3,731 |
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
The USA became the UK’s largest import partner in January 2026, climbing from second place in December 2025. It had an increase in value on December 2025, up £2.4 billion, and an increase in value on January 2025, up £3.7 billion. Both increases were driven by Precious metals and Aircraft.
Switzerland fell to second place in January 2026, from first in December 2025. It had a decrease in value on December 2025, down £3.4 billion. In contrast, imports from Switzerland had an increase in value on January 2025, up £5.4 billion. Both changes were dominated by Precious metals.
Germany remained in third place in January 2026. It had an increase in value on December 2025, up £333 million. This was driven by Motor vehicles, Aircraft, and Precious metals. Imports from Germany also had an increase in value on January 2025, up £816 million. This was driven by Precious metals and Aircraft.
Figure 6: Historical import values for the top 3 import partner countries, August 2024 to January 2026
Figure 6 shows the values for the top 3 import partner countries for the period from August 2024 to January 2026.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
The USA accounted for 14% of the UK’s total imports in January 2026. This was up from 10% in December 2025 and up from 11% in January 2025. Imports from the USA increased by 35% on December 2025 and increased by 67% on January 2025 to the highest value over the period August 2024 to January 2026.
Switzerland accounted for 11% of the UK’s total imports in January 2026. This was down from 15% in December 2025 but up from 3% in January 2025. Imports from Switzerland decreased by 33% on December 2025. In contrast, they increased to 4.5 times the value on January 2025.
Germany accounted for 10% of the UK’s total imports in January 2026. This was up from 8% in December 2025 and unchanged on January 2025. Imports from Germany increased by 6% on December 2025 and increased by 15% on January 2025.
Imports: Chapter analysis
You can explore more UK import chapter data in the interactive data tables.
Precious metals had the largest value decrease on December 2025, down 26%.
Precious metals had the largest value increase on January 2025, to almost 3.5 times the value.
Table 6: UK imports of goods of the top 5 chapters, value comparison with December 2025 and January 2025
(£ million)
| Chapter | January 2026 | December 2025 | January 2025 |
|---|---|---|---|
| Precious metals | 17,727 | 23,854 | 5,403 |
| Mechanical appliances | 7,298 | 7,029 | 6,792 |
| Motor vehicles | 5,097 | 5,514 | 4,819 |
| Mineral fuels | 4,886 | 4,957 | 6,417 |
| Electronic equipment | 4,562 | 4,834 | 4,532 |
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
Precious metals remained the UK’s top import chapter in January 2026. It had a decrease in value on December 2025, down £6.1 billion. This was driven by Switzerland, Hong Kong, and South Africa, and partially offset by the USA. In contrast, imports of Precious metals had an increase in value on January 2025, up £12.3 billion. This was driven by Switzerland, the USA, and Canada.
Mechanical appliances remained the UK’s second largest import chapter in January 2026. It had an increase in value on December 2025, up £269 million. This was driven by Ireland and Poland, partially offset by France. Imports of Mechanical appliances also increased in value on January 2025, up £507 million. This was driven by Ireland and the USA.
Motor vehicles remained the UK’s third largest import chapter in January 2026. It had a decrease in value of £417 million on December 2025. This was driven by Belgium and France, partially offset by Germany. In contrast, imports of Motor vehicles increased in value on January 2025, up £278 million. This was driven by China.
Figure 7: Historical import values for the top 3 import chapters, August 2024 to January 2026
Figure 7 shows the values for the top 3 import chapters for the period from August 2024 to January 2026.
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2025 and 2026 data is provisional.
Precious metals accounted for 28% of total imports in January 2026. This was down from 34% in December 2025 but up from 10% in January 2025. Imports of Precious metals decreased by 26% on December 2025. In contrast, they increased to almost 3.5 times the value on January 2025.
Mechanical appliances accounted for 11% of the UK’s total imports in January 2026. This was up from 10% in December 2025 but down from 13% in January 2025. The value of imports of Mechanical appliances increased by 4% on December 2025 and increased by 7% on January 2025.
Motor vehicles accounted for 8% of UK imports in January 2026. This was unchanged on December 2025 and down from 9% in January 2025. Imports of Motor vehicles decreased by 8% on December 2025 but increased by 6% on January 2025.
Focus
Table 7: UK exports of Precious metals, value comparison with December 2025
| Partner country |
January 2026 (£ million) |
December 2025 (£ million) |
Change (£ million) |
Change (%) |
|---|---|---|---|---|
| China | 1,125 | 39 | 1,086 | 2,779 |
| India | 1,142 | 130 | 1,012 | 776 |
| Switzerland | 759 | 148 | 610 | 411 |
| Azerbaijan | 0 | 928 | -928 | -100 |
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Download table 7: UK exports of Precious metals, value comparison with December 2025 (ODS, 11.6 KB)
Note: 2025 and 2026 data is provisional.
UK exports of Precious metals had the largest value increase of all chapters on December 2025. This was an increase of £3.2 billion, up to 2.5 times the value.
Between December 2025 and January 2026, exports of Precious metals to China increased by the largest amount, £1.1 billion, up from £39 million.
Exports of Precious metals to India increased by £1.0 billion, to almost 9 times the value. Exports to Switzerland increased by £610 million, to more than 5 times the value.
In contrast, exports of Precious metals to Azerbaijan decreased by £928 million to zero trade.
Table 8: UK imports of Precious metals, value comparison with December 2025
| Partner country |
January 2026 (£ million) |
December 2025 (£ million) |
Change (£ million) |
Change (%) |
|---|---|---|---|---|
| Switzerland | 6,412 | 9,802 | -3,390 | -35 |
| Hong Kong | 259 | 1,868 | -1,609 | -86 |
| South Africa | 825 | 2,251 | -1,427 | -63 |
| USA | 4,393 | 2,579 | 1,813 | 70 |
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Download table 8: UK imports of Precious metals, value comparison with December 2025 (ODS, 11.6 KB)
Note: 2025 and 2026 data is provisional.
UK imports of Precious metals had the largest value decrease of all chapters on December 2025. This was a decrease of £6.1 billion, or 26%.
Between December 2025 and January 2026, imports of Precious metals from Switzerland decreased by the largest amount, £3.4 billion, down 35%.
Imports of Precious metals from Hong Kong fell by £1.6 billion, or 86%. Imports from South Africa fell by £1.4 billion, or 63%.
In contrast, imports of Precious metals from the USA increased by £1.8 billion, or 70%.