France Trade Deficit Largest in a Year

France's trade deficit widened to €6.9 billion in May 2026 from €5.4 billion in April, exceeding expectations of a €5.2 billion shortfall. This marked the largest trade gap since April 2025, as exports fell 2.0% month-on-month to €53.6 billion, weighed down by lower shipments of mechanical, electrical, electronic and computer equipment (-4.4%) and natural hydrocarbons and other extractive products (-4.5%). By destination, exports declined to the EU (-0.9%), Africa (-17.0%), and the Americas (-3.2%), while rising to Asia (+9.9%) and the Middle East (+14.4%). Meanwhile, imports increased 0.7% to €60.5 billion, driven by higher purchases of refined petroleum products (+10.2%), transport equipment (+3.9%), other industrial products (+1.1%), and mechanical, electrical, electronic and computer equipment (+1.0%). By origin, imports rose from the EU (+1.1%) and the Middle East (+38.4%), remained broadly unchanged from Asia, and declined from the Americas (-3.8%) and Africa (-8.8%).

France’s trade deficit narrowed to €5.6 billion in April 2026 from €6.4 billion in March, and below the expected €6.5 billion shortfall. This reflects exports rising 3.1% month-on-month to €54.6 billion, driven by transport equipment (+5.9%), mechanical, electrical, electronic and computer equipment (+5.8%), and other industrial products (+0.2%), while declines were seen in natural hydrocarbons (-8.7%), and agri-food industries (-1.1%). By region, exports increased to the European Union (+1.1%), Asia (+2.7%), the Americas (+0.6%), Africa (+0.4%), and the Middle East (+8.7%). Meanwhile, imports rose at a softer 1.5% to €60.2 billion, driven by higher purchases of natural hydrocarbons (+5.4%) and other industrial products (+2.5%), while transport equipment (-2.8%) and refined petroleum products (-3.3%) declined. Imports rose from Africa (+20.4%), Asia (+6.1%), and the Americas (+2.4%), while falling sharply from the Middle East (-60.7%) and edging lower from the European Union (-0.2%).

France’s trade deficit widened to €6.9 billion in March 2026 from a revised €5.5 billion in February, coming in above expectations of €5.6 billion. This marks the largest reading since May 2025, as imports rose 3.2% month-on-month to €59.3 billion, led by strong increases in natural hydrocarbons (+30.0%), refined petroleum products (+25.4%), and transport equipment (+2.8%). Imports grew from the European Union (+3.4%), Africa (+1.3%), the Americas (+4.2%), and the Middle East (+42.0%). Meanwhile, exports rose at a slower pace of 1.0% to €52.5 billion, driven by refined petroleum products (+35.5%) and natural hydrocarbons (+11.3%). In contrast, exports declined in agricultural products (-0.8%), other industrial products (-0.8%), and publishing and communication goods (-4.2%). By region, exports increased to Africa (+9.4%), Asia (+8.0%), the European Union (+1.0%), and miscellaneous destinations (+16.2%), while falling to the Americas (-6.4%) and the Middle East (-10.1%).