France Trade Deficit Narrows in October

The French balance of trade deficit narrowed in October of 2012 due to a sharper increase in exports according to a release by the Ministry of Finance.

In France, trade deficit decreased again in October and was recorded at 4.685 billion euros from 4.997 billion euro in September. The accumulated deficit of the last 12 months is 66.726 billion euro. The same period last year recorded a deficit of 73.682 billion euro.

Overall exports grew 2.6% in comparison with the last quarter despite a decline in the transport equipment sector (lower exports of airbus and automobiles). Significant growth was recorded for chemicals, refined petroleum and cereals. The increase of energy exports offset the decline in demand for pharmaceuticals and transport equipment. 

Imports also grew (1.0% quarter-on-quarter), primarily due to the increase in imports of raw materials. However, there was a decrease in the imports of electrical equipment, pharmaceuticals and energy.

France Trade Deficit Narrows in October

Ministry of Finance | Nuno Fontes |
12/12/2012 5:35:21 PM