French Trade Gap Narrows In May


French trade deficit narrowed to EUR 4.89 billion in May of 2017 from a marginally revised EUR 5.59 billion in April while market estimated a EUR 5.1 billion gap. Exports jumped by 4.3 percent from the previous month to EUR 40.1 billion while imports went up at a slower 2.2 percent to EUR 45.0 billion.

Exports increased by 4.3 percent from the previous month to EUR 40.1 billion, boosted by higher sales of: Aerospace industry (19.9 percent); ships, train, bikes (320.7 percent); automotive products (4.9 percent); chemicals (3.7 percent); natural hydrocarbons (4.5 percent); pharmaceuticals (2.6 percent); perfumes, cosmetics, cleaning products (2.2 percent); rubber products, plastics, various minerals (5.0 percent); agriculture products (1.8 percent); electrical and household equipment (1.9 percent); textiles, leather (5.2 percent); wood, paper, cardboard (1.4 percent); jewelry, toys, furniture (7.1 percent); and metallurgical and metal products (2.0 percent). In contrast, outbound shipments declined for: works of arts, technical documentation, publishing products (-18.5 percent); computer, electronic and optical (-2.6 percent) and refined oil (-4.2 percent).

Exports increased to EU countries (4.2 percent), mainly to Ireland (69.4 percent), Spain (12.4 percent); the Middle-East (38.3 percent), mainly to Qatar (752.8 percent); America (2.5 percent) and Asia (6.0 percent), mainly to Singapore (47.9 percent) and Taiwan (179.9 percent). In contrast, outbound shipments declined to Africa (-5.4 percent).

Imports advanced by 2.2 percent to EUR 45.0 billion, as purchases went up for: Aerospace industry (0.4 percent); ships, train, bikes (16.2 percent); automotive products (1.1 percent); chemicals (0.3 percent); pharmaceuticals (1.8 percent); perfumes, cosmetics, cleaning products (8.0 percent); rubber products, plastics, various minerals (3.8 percent); agriculture products (2.1 percent); electrical and household equipment (3.3 percent); textiles, leather (4.8 percent); wood, paper, cardboard (5.6 percent); jewelry, toys, furniture (7.2 percent); metallurgical and metal products (3.8 percent); works of arts, technical documentation, publishing products (6.5 percent); computer, electronic and optical (1.3 percent); industrial and agriculture machinery (7.0 percent); and refined oil (10.3 percent).

Imports rose from the EU (1.6 percent), mainly from the UK (9 percent) and Spain (4.4 percent); and Asia (4.2 percent), mainly from South Korea (19.9 percent). Meanwhile, purchases from the Middle East fell 0.2 percent, despite a 8890.6 percent jump in imports from Qatar; and those from America dropped 0.7 percent.

Ministère de l'Économie et des Finances l Rida Husna | rida@tradingeconomics.com
7/7/2017 2:12:13 PM