French Trade Deficit Larger than Expected


France's trade deficit widened to EUR 5.0 billion in August 2019 from a revised 4.5 billion in the previous month and above market expectations of a EUR 4.48 billion gap.

Exports grew 0.8 percent from the previous month to EUR 42.8 billion in August, boosted by sales of mechanical, electrical, electronic and computer equipment (5.1 percent), agribusiness products (1.3 percent), natural hydrocarbons, mining products, electricity (0.7 percent) and other industrial products (0.7 percent). In contrast, there were declines in exports of transport equipment (-2.9 percent), agricultural, forestry, fishery and aquaculture products (-6.2 percent) and refined petroleum products (-16.8 percent).

Among major trade partners, exports increased to Germany (0.8 percent), the UK (10.3 percent), Switzerland (4.8 percent), Poland (2.3 percent), Japan (17.3 percent) and Russia (50.5 percent); but declined to the US (-7.4 percent), Italy (-0.1 percent), Spain (-3.7 percent), Belgium (-3 percent), China & Hong Kong (-4 percent), the Netherlands (-1.5 percent), the Middle East (-12.2 percent), Portugal (-9.5 percent) and Turkey (-4.4 percent).

Imports advanced at a faster 1.8 percent to EUR 47.8 billion, as purchases rose for mechanical, electrical, electronic and computer equipment (2.5 percent), transport equipment (5.6 percent), refined petroleum products (4.2 percent), agricultural, forestry, fishery and aquaculture products (3.1 percent) and agribusiness products (0.3 percent). Meanwhile, imports of natural hydrocarbons, mining products, electricity fell 1.2 percent.

Among major trade partners, imports rose from Germany (1.3 percent), China & Hong Kong (3.3 percent), Belgium (0.9 percent), Spain (0.4 percent), the US (1.5 percent), the UK (17.7 percent), Japan (4.8 percent), Russia (69.2 percent) and Czech Republic (0.7 percent). In contrast, there were declines in purchases from Italy (-4.1 percent), the Netherlands (-3 percent), Switzerland (-0.1 percent), Poland (-1.7 percent), the Middle East (-17.6 percent), Turkey (-4.1 percent) and Ireland (-9.9 percent).

French Trade Deficit Larger than Expected


Ministère de l'Économie et des Finances | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/8/2019 11:48:57 AM