The UK recorded a trade surplus of GBP 3.92 billion in January 2026, a sharp reversal from a GBP 4.34 billion deficit in the previous month. This marks the first surplus since September 2024, as exports increased and imports declined. Exports rose 7.2% month-on-month to a record GBP 82.51 billion, while imports fell 3.3% to a one-year low of GBP 78.59 billion. Goods exports climbed 6.7% to GBP 35.53 billion, driven by higher shipments to both EU (6.2%) and non-EU countries (7.1%). Exports to the EU was due to increases in machinery and transport equipment as well as fuel exports. Exports to non-EU markets were led by chemicals, particularly medicinal and pharmaceutical products to China, Turkey, and Brazil. In contrast, exports of goods to the US fell 11.3%, amid lower sales of machinery and transport equipment, specifically cars. Services exports edged up 0.2% to GBP 46.98 billion. On the import side, goods imports rose 0.6% to GBP 49.98 billion, while services imports increased 0.4% to GBP 28.61 billion.