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Cheniere Signs 22-Year LNG Supply Deal With Petrobras

29 September 2026 at 20:32
Cheniere Energy has signed a 22-year agreement to supply Brazil’s Petrobras with U.S. liquefied natural gas, adding another long-term customer as the company looks to support further expansion of its...

Russian Crude Exports Boom Blunted by Kremlin’s Diesel Sales Ban

29 September 2026 at 17:41
Russia shipped the most crude in a month-and-a-half, while a jump in prices propelled the value of those cargoes close to the highest since the start of the invasion of Ukraine in 2022. But the benefits to the Kremlin are being undermined by its ban on overseas diesel sales.

EU imports of goods outpace exports in Q2 2026

27 August 2026 at 07:00

In the second quarter of 2026, the EU recorded a trade deficit of €21.8 billion, as goods imported from non-EU countries (€701.8 billion) exceeded exports (€680.0 billion). This is the first trade deficit registered since the second quarter of 2023, the last of a series of deficits fuelled by soaring energy costs observed between late 2021 and mid-2023.

The deficit in the trade balance was primarily due to an increase in the deficit on energy products (from -€71.3 billion in Q1 2026 to -€101.1 billion in Q2 2026), raw materials (from -€7.9 billion to -€9.4 billion) and other manufactured goods (from -€8.3 billion to -€9.1 billion). Additionally, there was a reduction in the surplus of machinery and vehicles (from €24.9 billion in Q1 2026 to €23.2 billion) and other goods (from €11.6 billion to €9.1 billion). 

On the other hand, there were surplus increases for chemicals (from €47.1 billion to €54.0 billion) and food and drinks (from €10.7 billion to €11.5 billion). 

Click to enlarge

EU trade balance for goods, by product group, Q1 2021-Q2 2026 (€ billion, seasonally adjusted data). Bar chart for product groups and line chart for total trade balance. Link to full dataset below.

Source dataset: ext_st_eu27_2020sitc

Overall, exports increased by 5.4% (+€34.9 billion) and imports by 9.9% (+€63.4 billion) compared with the previous quarter. 

Exports and imports had been declining since the second quarter of 2025, a trend that halted in the first quarter of 2026. Those declines had been partly attributed to tariff tensions. 

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EU trade in goods, Q1 2021-Q2 2026 (% quarterly growth rate, seasonally adjusted data). Bar chart. Link to full dataset below.

Source dataset: ext_st_eu27_2020sitc

For more information

Methodological note

Products are defined according to the standard international trade classification (SITC). The main categories are:

  • food, drinks and tobacco (Sections 0 and 1 - including live animals);
  • raw materials (Sections 2 and 4);
  • energy products (Section 3);
  • chemicals and related products (Section 5 - including pharmaceuticals and plastics);
  • machinery and transport equipment (Section 7);
  • other manufactured goods (Sections 6 and 8);
  • other goods (Section 9).

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