France Current Account Swings to Surplus

France’s current account surplus widened sharply to EUR 2.1 billion in January 2026, up from just EUR 0.1 billion in December, marking the largest surplus since December 2024. The increase was driven by a rise in the services account surplus, which climbed to EUR 56.0 billion from EUR 55.7 billion in the previous month. The goods account deficit narrowed significantly, falling to EUR 56.3 billion from EUR 60.2 billion, while the shortfall in secondary income eased slightly to EUR 4.5 billion from EUR 4.6 billion. Meanwhile, the primary income surplus decreased to EUR 3.8 billion from EUR 4.0 billion. By comparison, the current account had recorded a deficit of EUR 1.8 billion in the same month last year, highlighting a marked improvement in the country’s external position.

France’s current account deficit widened to EUR 0.6 billion in December 2025 from a downwardly revised EUR 0.3 billion in the previous month. It marked the largest current account gap since September, as the goods account deficit increased to EUR 4.0 billion from EUR 3.6 billion in November. On the other hand, the services account surplus rose slightly to EUR 4.0 billion in December from EUR 3.9 billion in the prior month, while the primary income surplus edged up to EUR 4.0 billion from EUR 3.9 billion. In addition, the secondary income deficit remained unchanged at EUR 4.6 billion.

France posted a current account deficit of EUR 0.8 billion in November 2025, shifting from a surplus of an upwardly revised EUR 1.4 billion in the previous month. The goods account shortfall widened to EUR 3.7 billion from EUR 2.1 billion in October, while the services account surplus narrowed to EUR 3.7 billion from EUR 4.4 billion. Meanwhile, the primary income surplus edged up to EUR 3.7 billion from EUR 3.6 billion, and the secondary income shortfall remained unchanged at EUR 4.5 billion.