French Trade Gap Widens in June


The French trade deficit rose to EUR 5.2 billion in June 2019 from EUR 3.3 billion in the prior month and compared with market expectations of EUR 4.0 billion shortfall. Exports slumped 4.9 percent month-over-month and imports decreased at a softer 0.6 percent.

Exports tumbled 4.9 percent from month earlier to EUR 41.9 billion in June 2019. Declines in shipments were recorded in all categories, mostly transport equipment (-3.8 percent), of which aerospace products; mechanical, electrical, electronic and computer equipment (-4.3 percent); other industrial products (-0.3 percent); food products (-4.4 percent); coke and refined petroleum products (-14.7 percent); pharmaceuticals (-5.3 percent); steel and primary steel products (-6.2 percent) and agricultural, forestry, fishery and aquaculture products (-3.5 percent).

Among major trading partners, overseas sales fell to the EU (-0.8 percent), Asia (-14.4 percent), America (-0.7 percent) and Africa (-7.7 percent), but rose to the Middle East (2.6 percent).

Imports decreased at a slower 0.6 percent to EUR 47.1 billion, mainly dragged down by lower purchases of natural hydrocarbons, mining products, electricity (-5 percent) and coke and refined petroleum products (-6.7 percent). Meanwhile, those of transport equipment rose (0.5 percent), as an increase in purchases of vehicles offset a decline in imports of aerospace products. Also, purchases went up for mechanical, electrical, electronic and computer equipment (0.8 percent); textiles, clothing, leather and shoes (0.7 percent) and jewelry, toys, furniture (3.8 percent).

Among major trading partners, imports shrank from the EU (-1.2 percent), America (-1.1 percent) and the Middle East (-18.4 percent), while increased from Asia (2 percent) and Africa (6.5 percent).

French Trade Gap Widens in June


Ministère de l'Économie et des Finances | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/7/2019 10:36:38 AM