French Trade Gap Narrows in July


The French trade deficit decreased to EUR 4.6 billion in July 2019 from an upwardly revised EUR 5.3 in the previous month. Exports rose 1.1 percent month-over-month to EUR 42.2 billion while imports fell 0.4 percent to EUR 46.9 billion.

Exports advanced 1.1 percent from a month earlier to EUR 42.2 billion in July 2019. Main increases were seen in sales of other industrial products (1.1 percent), of which pharmaceutical products (8 percent), metallurgical & metal products (0.2 percent) and textiles, clothing, leather & shoes (0.6 percent); transport equipment (1.7 percent), namely aerospace products (3.3 percent); agribusiness products (0.7 percent), primarily fish (35.1 percent) and dairy products (13.8 percent); agricultural, forestry, fishery and aquaculture products (9.8 percent); coke and refined petroleum products (22.4 percent) and natural hydrocarbons, mining products, electricity (1.7 percent). In contrast, shipments declined for mechanical, electrical, electronic and computer equipment (-1.6 percent).

Among major trading partners, exports rose to the EU (3.0 percent), America (3.7 percent) and Africa (5.0 percent), but decreased to Asia (-5.0 percent) and the Middle East (-26.7 percent).

Imports decreased 0.4 percent month-over-month to EUR 46.9 billion, amid lower purchases of other industrial products (-0.5 percent), mostly chemicals, perfumes, cosmetics (-4.4 percent) and textiles, clothing, leather & shoes (-1.4 percent); mechanical, electrical, electronic and computer equipment (-1.7 percent); coke and refined petroleum products (-4.9 percent) and publishing and communication (-1.4 percent). On the other hand, acquisitions went up for transport equipment (0.5 percent), as higher imports of automotive equipment (2.3 percent) and boats & ships (274.4 percent) outweighed declines seen in vehicles (-5 percent) and aerospace products (-0.7 percent). Also, imports advanced for natural hydrocarbons, mining products, electricity (1.7 percent); agribusiness products (2.0 percent) and agricultural, forestry, fishery and aquaculture products (2.8 percent).

Among major trading partners, imports were down from the EU (-0.3 percent), Asia (-2.3 percent), America (-2.7 percent), Africa (-1.7 percent), while grew from the Middle East (19.3 percent).

French Trade Gap Narrows in July


Ministère de l'Économie et des Finances | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/6/2019 8:59:18 AM