French Trade Deficit Narrows in November
French trade gap decreased to € 3.23 billion in November of 2014 from a revised € 4.27 billion shortage recorded in the previous month as exports increased and imports declined. It is the smallest deficit since February and far above market expectations.
Exports increased 0.6 percent to € 37.13 billion in November compared with October . Sales on airspace industry rose the most (+ 5.9 percent), followed by natural hydrocarbon products (+3.2 percent), agriculture (2.9 percent) and textile (+2.6 percent). In contrast, exports of shipbuilding industry and pharmaceutical products fell by 30.1 percent and 7.4 percent. Outward shipments to China, Asia and Middle East increased by 10.4 percent, 5.6 percent and 7.0 percent. Sales to the US and the EU countries declined by 3.2 percent and 0.1 percent respectively.
Imports declined by 1.9 percent to € 40.9 billion with purchases for shipbuilding industry falling the most by 33.3 percent, followed by natural hydrocarbon products (-18.0 percent), wood and paper (-3.2 percent) and auto industry (-1.8 percent).
In November 2013, French posted a € 4.62 billion deficit.
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