French Trade Deficit Widens Less than Expected in September


French trade deficit widened to EUR 4.7 billion in September 2017 from a revised EUR 4.2 billion in the previous month, but below market expectations of a EUR 4.8 billion gap.

Imports jumped by 1.3 percent from the previous month to EUR 45.0 billion in September, as purchases rose for: Refined oil (15.4 percent); aerospace industry (13.1 percent); chemicals (4.8 percent), and textiles, leather (2.1 percent). In contrast, purchases declined for: Perfumes, cosmetics, cleaning products (-4.3 percent); agriculture products (-0.1 percent); electrical and household equipment (-0.2 percent); jewelry, toys, furniture (-0.4 percent); industrial and agriculture machinery (-0.8 percent); natural hydrocarbons (-2.6 percent); automotive products (-5.2 percent); works of arts, technical documentation, publishing products (-6.4 percent); pharmaceuticals (-8.5 percent); rubber products, plastics, various minerals (-2.8 percent); computers, electronics and optical (-1.6 percent); agri-food products (-2.1 percent); ships, trains, bikes (-13.6 percent); wood, paper, cardboard (-1 percent), and metallurgical and metal products (-3.3 percent).
 
Imports went up from the Middle East (16.8 percent); Asia (0.6 percent), mainly from Thailand (7.5 percent), Taiwan (5.6 percent), Vietnam (2.9 percent) and India (2.7 percent); America (1.5 percent), mainly from Mexico (19 percent); and the EU (0.3 percent), mainly from the UK (3.2 percent). In contrast, purchases decreased from Africa (-3.6 percent).
 
Exports increased by 0.3 percent to EUR 40.3 billion, driven by higher sales of: Aerospace industry (7.8 percent); textiles; leather (0.5 percent); chemicals (3.2 percent); ships, trains, bikes (10 percent); jewelry, toys, furniture (0.1 percent); refined oil (34.6 percent); pharmaceuticals (1.7 percent); electrical and household equipment (2.1 percent); perfumes, cosmetics, and cleaning products (0.2 percent). Meanwhile, outbound shipments fell for: Wood, paper, cardboard (-1 percent); natural hydrocarbons (-1.3 percent); works of arts, technical documentation, publishing products (-26.4 percent); agriculture products (-2.4 percent); industrial and agriculture machinery (-4.2 percent); automotive products (-2 percent); agri-food products (-3.8 percent); rubber products, plastics, various minerals (-1 percent); computers, electronics and optical (-2.9 percent); and metallurgical and metal products (-3.9 percent).
 
Exports rose to America (3.9 percent); Africa (1.1 percent), and the Middle East (9.9 percent). In contrast, sales decreased to the EU (-0.5 percent), mainly to the UK (-4.8 percent) and Asia (-5.1 percent), mainly to Malaysia (-71.8 percent), Vietnam (-60 percent), India (-22.2 percent), and China & Hong Kong (-18.1 percent).

Ministère de l'Économie et des Finances l Chusnul Ch Manan | chusnul@tradingeconomics.com
11/8/2017 12:43:10 PM