French Trade Gap Widens in June


French trade deficit increased to EUR 4.7 billion in June of 2017 from a downwardly revised EUR 4.4 billion in May, below market expectations of a EUR 5.1 billion gap. Exports fell 2.8 percent from the previous month to EUR 39.2 billion and imports went down by 2.0 percent to EUR 43.8 billion.

Exports decreased by 2.8 percent from the previous month to EUR 39.2 billion, dragged by lower sales of: Ships, trains and bikes (-74.6 percent); aerospace industry (-9.8 percent); natural hydrocarbons (-8.9 percent); refined oil (-7.1 percent); automotive products (-5.0 percent); pharmaceuticals (-6.4 percent); works of arts, technical documentation, publishing products (-4.4 percent); chemicals (-3.0 percent); computers, electronics and optical (-0.4 percent); industrial and agriculture machinery (-0.4 percent); and electrical and household equipment (-0.4 percent). In contrast, outbound shipments increased for: Jewelry, toys, furniture (2.6 percent); perfumes, cosmetics, cleaning products (1.8 percent); agriculture products (1.4 percent); rubber products, plastic, various minerals (0.8 percent);  wood, paper, cardboard (0.5 percent) and textiles, leather (0.4 percent).

Exports decreased to the Middle East (-40.5 percent), mainly to Qatar (-85.8 percent); America (-4.1 percent); the EU (-1.1 percent), mainly to Ireland (-35.1 percent); and Asia (-0.9 percent). In contrast, sales increase to Africa (2.0 percent), mainly to Ethiopia (823.7 percent). 

Imports fell by 2 percent to EUR 43.8 billion, as purchases went down for: Refined oil (-15.4 percent); pharmaceuticals (-10.5 percent); aerospace industry (-9.8 percent); natural hydrocarbons (-4.6 percent); textiles, leather (-4.1 percent); rubber products, plastics, various minerals (-4.0 percent); agriculture (-3.2 percent); wood, paper, cardboard (-2.4 percent); metallurgical and metal products (-1.9 percent); computers, electronics and optical (-1.8 percent); chemicals (-1.4 percent); industrial and agriculture machinery (-1.2 percent); and ships, trains, bikes (-0.6 percent). In contrast, purchases rose for: Works of arts, technical documentation, publishing products (4.4 percent); perfumes, cosmetics, cleaning products (1.6 percent); automotive products (1.4 percent); jewelry, toys, furniture (1.4 percent) and electrical and household equipment (0.4 percent).

Imports declined from the Middle East (-31.3 percent), mainly from Kuwait (-97.8 percent); Norway (-37.5 percent); the EU (-1.9  percent), mainly from Austria (-31.2 percent) and the UK (-7.5 percent); and Asia (-4.2 percent). In contrast, purchases went up from America (5.1 percent) and Africa (0.6 percent), mainly from Ethiopia (5.3 percent).


Ministère de l'Économie et des Finances l Rida Husna | rida@tradingeconomics.com
8/8/2017 9:16:24 AM