French Trade Deficit Narrows in October as Exports Jump

The French trade deficit decreased to EUR 4.1 billion in October 2018 from a downwardly revised EUR 5.4 billion in the previous month and below market consensus of a EUR 6.0 billion gap. Exports jumped 6.2 percent to an all-time high and imports climbed at a softer 2.5 percent, also reaching a record.

Exports rose 6.2 percent from a month earlier to an all-time high of EUR 43.2 billion in October as sales increased mostly for aerospace industry products (7.4 percent), automotive industry products (2.7 percent), food products (3.1 percent), chemicals (8 percent) and industrial and agricultural machinery (2.3 percent).

Among major trading partners, exports grew mostly to the US (38.7 percent), Spain (4.4 percent), Italy (1.1 percent) and the UK (9.7 percent), but declined to Germany (-1.6 percent).

Imports increased 2.5 percent to a record EUR 47.3 billion in October, driven by purchases of automotive industry products (7.3 percent); industrial and agricultural machinery (4.1 percent); computer, electronic and optical products (4.9 percent); and chemicals (5.8 percent). Contrarily, imports of natural hydrocarbons, mining products, electricity dropped 7 percent. 

Among major trading partners, imports rose mainly from China & Hong Kong (9.5 percent) and Spain (10.5 percent), while there were falls from Germany (-1 percent) and Belgium (-2 percent). Imports from Italy were unchanged.

French Trade Deficit Narrows in October as Exports Jump

Ministère de l'Économie et des Finances | Joana Ferreira |
12/7/2018 9:48:11 AM