French August Trade Deficit Smallest in 8 Months


French trade deficit narrowed to EUR 4.5 billion in August of 2017 from a marginally revised EUR 5.9 billion in July and below market expectations of a EUR 5.4 billion gap.

Imports fell by 1.8 percent from the previous month to EUR 44.3 billion in August, as purchases went down for: Aerospace industry (-13.4 percent); refined oil (-12.8 percent); chemicals (-8.7 percent); perfumes, cosmetics, cleaning products (-2.2 percent); agriculture products (-2 percent); electrical and household equipment (-2 percent); jewelry, toys, furniture (-1.4 percent); and industrial and agriculture machinery (-0.5 percent). In contrast, purchases rose for: Natural hydrocarbons (9.6 percent); automotive products (8.2 percent); works of arts, technical documentation, publishing products (1.4 percent); pharmaceuticals (1.4 percent); rubber products, plastics, various minerals (0.8 percent); computers, electronics and optical (0.8 percent); agri-food products (0.7 percent); textiles, leather (0.5 percent); ships, trains, bikes (0.5 percent); wood, paper, cardboard (0.2 percent); and metallurgical and metal products (0.1 percent).

Imports decreased from the Middle East (-24.5 percent), mainly from Saudi Arabia (-33.5 percent); Asia (-5.1 percent), mainly from India (-19.2 percent); and the EU (-1.2 percent), mainly from the UK (-7.9 percent). In contrast, purchases increased from Africa (3.2 percent) and America (0.6 percent).

Exports increased by 1.4 percent to EUR 39.8 billion, driven by higher sales of: Works of arts, technical documentation, publishing products (21.4 percent); aerospace industry (7.1 percent); agriculture products (5.8 percent); industrial and agriculture machinery (2.2 percent); automotive products (1.7 percent); agri-food products (1.7 percent); rubber products, plastics, various minerals (1.1 percent); computers, electronics and optical (1 percent); and metallurgical and metal products (0.2 percent). Meanwhile, outbound shipments fell for: Ships, trains, bikes (-32.9 percent); jewelry, toys, furniture (-10.1 percent); refined oil (-4.6 percent); pharmaceuticals (-2.9 percent); electrical and household equipment (-2.2 percent); perfumes, cosmetics, cleaning products (-2.2 percent); wood, paper, cardboard (-1.5 percent); textiles, leather (-1.4 percent); natural hydrocarbons (-0.4 percent); chemicals (-0.1 percent).

Exports increased to Asia (12 percent), mainly to Malaysia (171.5 percent), Vietnam (107.2 percent), China and Hong Kong (43.5 percent) and India (33 percent); America (3.3 percent); and the EU (0.2 percent). In contrast, sales decreased to Africa (-5.3 percent) and the Middle East (-1.3 percent).
 
 

Ministère de l'Économie et des Finances l Chusnul Ch Manan | chusnul@tradingeconomics.com
10/6/2017 9:24:27 AM