French Trade Deficit Widens in December

French trade gap increased to €3.44 billion in December of 2014 from a revised €3.09 billion in the preceding month, as imports grew at a faster pace than exports.

Exports increased 1.8 percent to € 37.91 billion in December compared to November. Sales grew for pharmaceuticlas (+20.6 percent), aircraft industry (+5.5 percent); chemical products, perfumes (+3.8 percent); metal and metal products (+3.6 percent) and textile (+3.2 percent). In contrast, exports of agriculture products (-4.6 percent) and refined petroleum (-14.7 percent) fell. Shipments to the Middle East countries rose the most by 74.2 percent, followed by the EU countries (+2.1 percent). In contrast, sales to Africa and Asia countries declined by 6.9 percent and 5.2 percent respectively. Exports to the American countries also fell by 0.8 percent.

Imports rose 2.6 percent to € 41.35 billion with purchases of ships, trains and motorcycles rising the most (18.9 percent), followed by natural hydrocarbons (16.2 percent) and airspace industry (8.8 percent). Imports mainly came from the Middle East countries (+30.7 percent), America (+8.4 percent) and Asian countries (+4.0 percent). In contrast, imports from the EU countries and Africa declined by 1.5 percent and 1.9 percent respectively.

In 2014, the country posted a € 53.8 billion trade deficit, compared with a € 60.8 billion in 2013. Exports rose 3.1 while imports shrank 1.4 percent.

French Trade Deficit Widens in December

Rida Husna l
2/6/2015 12:32:32 PM