IN Brief:
- UK goods exports rose by £2bn in January, with gains to both EU and non-EU markets.
- Machinery, fuels, and chemicals drove the increase, while exports to the US fell again.
- The stronger start to 2026 comes as tariff uncertainty and Gulf shipping disruption raise new risks for exporters.
UK goods exports rose by £2bn in January, according to the latest ONS trade bulletin, with shipments to EU and non-EU markets both higher on the month. The data points to a stronger start to 2026 for manufacturers and traders, although the same release showed exports to the United States falling again and underlined how quickly the picture can turn.
Parcelhero, commenting on the figures, said the January improvement could prove short-lived. The ONS reported that total goods exports increased 6.7% month on month, with exports to non-EU countries up £1.1bn and exports to the EU up £0.9bn. Machinery and transport equipment led the EU gains, while chemicals, machinery, and fuels drove the rise in non-EU trade.
The weak point remained the US. ONS data showed exports of goods to the United States down £0.5bn in January, including a £0.4bn fall in machinery and transport equipment linked mainly to lower car exports, and the statistics office said UK goods exports to the US had stayed relatively subdued since trade tariffs introduced in April 2025. Over the three months to January, however, the broader picture still improved: goods exports rose £1.8bn, imports fell £1.3bn, and the trade in goods deficit narrowed to £56.6bn.
The January figures now sit against a far less settled March backdrop. Gulf shipping has been disrupted by the Iran conflict, with commercial traffic through the Strait of Hormuz sharply constrained, while tariff uncertainty continues to hang over transatlantic trade. That leaves exporters with a better set of January numbers than many expected, but little sign that cost, routing, or market access pressures have eased for the rest of the quarter.
