AA / Paris / Ümit Dönmez
France’s trade deficit hit an all-time high in April, both monthly and year-on-year, French Customs reported on Wednesday.
In a press release, they said that the trade deficit for the month of April alone stood at 12.4 billion euros, specifying that it “is a new historic low”.
“The deterioration of the energy balance under the effect of the rise in energy prices is once once more the main cause of this situation”, indicated the Customs.
Indeed, in the context of the gradual recovery of the world economy post-Covid-19 pandemic, then of the context of the war in Ukraine, the prices of hydrocarbons have experienced a sluggish increase over the past 6 months, the price of a barrel of Brent having increased by more than 45% between December 2021 and April 2022 and by more than 65% between December 2021 and June 2022.
In April 2022, French imports amounted to 58.8 billion euros, following having increased by 0.8 billion euros, while exports experienced a less marked increase (from 0.2 billion euros) amounting to 46.4 billion euros.
Cumulatively over twelve rolling months, France’s trade deficit continued to deteriorate, settling at a historic record of 106.6 billion euros, Customs said.
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