French Trade Deficit Widens in June

In May, France's trade deficit widened sharply to € 6.0 billion from € 4.5 billion in April, as exports of transport material, and Airbus planes in particular, fell. Imports were broadly unchanged from the previous month.

After two months of high levels of sales of transport equipment, deliveries of airplanes and ships declined 17 percent in May. The fall is also registered in the railway industry and electronic and electrical equipment while shipments of intermediate goods and oil slowed down. In contrast, exports of military equipment increased and those of pharmaceuticals, motor vehicles and industrial machines continued to recover.

After a rebound in the previous month, exports to the EU fell 2.7 percent. Sales to the United States were down 2.2 percent while shipments to Asia fell 7.5 percent.

Imports decreased slightly by 0.2 percent in May. Inflow of energy increased again (+0.2 percent). In contrast, purchases of intermediate goods, mainly for the automotive industry, and those of computer, electronic and electrical equipment reverted its downward trend. Imports from the EU and Asia remained broadly unchanged while purchases from the United States fell 2.6 percent.

French Trade Deficit Widens in June

Nuno Fontes |
7/5/2013 10:05:02 AM