2023-10-06 10:20:13
France’s trade deficit on trade in goods widened by 0.3 billion euros in August to reach 8.0 billion euros, customs services indicated on Friday. “Over the month, imports increased slightly (+0.3 billion euros) and reached 59.8 billion euros, while exports remained at 51.8 billion euros,” they detailed in their press release. After several months of improvement, the improvement in the trade balance is “marking time”, note customs.
France weighed down by its energy bill
Over twelve months accumulated until the end of August, France’s trade deficit on trade in goods stands at 130.6 billion euros. For the year 2022, it had peaked at a record amount of 164 billion euros, weighed down by the cost of energy imported from abroad by France. The widening of the trade deficit in August is explained by the deterioration in the balance of trade in energy products (-6.1 billion euros in August, compared to -5.9 billion euros in July). Excluding energy, the deficit on trade in goods remained almost stable, standing at 4.0 billion euros in August, compared to 3.9 billion in July.
In terms of trade in services, France recorded a surplus of 3.3 billion euros in August, better than in July (2.0 billion euros), indicated the Banque de France in a press release also published Friday. In total, the current transactions balance (an indicator which includes both exchanges of goods, services and income) is in deficit of 0.8 billion euros in August, specifies the central bank. In July, the same indicator was in deficit to the tune of 1.8 billion euros.
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