French Trade Deficit Widens in May

The French trade gap increased to € 4.9 billion in May of 2014 from a € 3.9 billion shortfall in the previous month, due to a surge in imports of oil products and works of art.

On a monthly basis, exports increased 0.3 percent to € 36 billion, driven by sales of chemical products and aviation.

Imports rose 2.2 percent from the previous month to € 40.9 billion, mainly due to higher purchases of refined petroleum products. In May of 2014, a private work art collection returned to France after being exported to Switzerland in 2012, thus contributing to the rise in imports.

Year-on-year, exports increased 8.64 percent while imports fell by an annual 1.5 percent.

French Trade Deficit Widens in May

Joana Taborda |
7/8/2014 10:56:13 AM