France Posts Largest Trade Gap in 16 Months



The French trade deficit widened to EUR 6.2 billion in June 2018 from 6.0 billion in May and above market consensus of a EUR 5.1 billion gap. It was the largest trade deficit since February 2017 as imports hit an all-time high.

Imports increased 1.4 percent from a month earlier to a record high of EUR 47.2 billion in June, following a 0.1 percent drop in the prior month, driven by higher purchases of natural hydrocarbons, mining products, electricity (19.8 percent). Other significant gains were also recorded in refined oil (6 percent); jewelry, toys, furniture (6.1 percent); metallurgical and metal products (2.1 percent); and pharmaceutical products (1.5 percent).

Among major trading partners, purchases increased primarily from Germany (0.8 percent); Italy (2.4 percent); Belgium (1 percent) and the US (5.9 percent). On the other hand, imports-arrivals fell from China (-2.3 percent).

Exports advanced at a softer 1 percent to EUR 40.9 billion in June, reversing a 2 percent fall in May. Sales rose mostly for pharmaceutical products (14.7 percent); aerospace products (6.2 percent); works of art, technical documentation, publishing products (6.4 percent); and natural hydrocarbons, mining products, electricity (6.3 percent). Other increases were also seen in automotive products (1.4 percent); wood, paper, cardboard (0.3 percent).

Among major trading partners, shipments went up mostly to Spain (2.9 percent); Italy (1.3 percent); Belgium (7.3 percent) and the US (0.6 percent) while they fell to Germany (-3.6 percent).

France Posts Largest Trade Gap in 16 Months


Ministère de l'Économie et des Finances | Chusnul Ch Manan | chusnul@tradingeconomics.com
8/7/2018 10:35:58 AM