French Trade Gap Narrows Slightly in September

The French trade deficit decreased to EUR 5.66 billion in September 2018 from an upwardly revised EUR 5.70 billion shortfall in the previous month and below market consensus of a EUR 6.1 billion gap. Imports declined 1.6 percent while exports fell at a faster 1.8 percent.

Imports slumped 1.6 percent from a month earlier to EUR 46.1 billion in September, driven by a drop in purchases of automotive industry products (-7.5 percent); metallurgical and metal products (-5.6 percent); computer, electronic and optical products (-5.1 percent); and industrial and agricultural machinery (-1.7 percent). Contrarily, imports of natural hydrocarbons, mining products, electricity jumped 20.3 percent. 

Among major trading partners, imports declined mainly from Germany (-1.2 percent), China & Hong Kong (-4.3 percent), Italy (-1.3 percent), Spain (-5.5 percent) and Belgium (-0.9 percent).

Meanwhile, exports fell 1.8 percent to EUR 40.4 billion in September as sales declined mostly for industrial and agricultural machinery (-5.1 percent); automotive industry products (-4.6 percent); chemical products (-2.6 percent); and food industry products (-2.5 percent), namely meat & meat products (-4.1 percent) and fruit & vegetables (-3.2 percent). On the other hand, sales went up for aerospace industry products (4.1 percent).

Among major trading partners, exports declined mostly to Spain (-0.7 percent), Italy (-4.1 percent), the US (-11.8 percent) and Belgium (-4.3 percent), while edged up to Germany (0.3 percent).

French Trade Gap Narrows Slightly in September

Ministère de l'Économie et des Finances | Gabriela Costa |
11/8/2018 1:44:08 PM