French Trade Gap at 1-1/2-Year Low in December


The trade deficit in France decreased to EUR 3.47 billion in December of 2017 from a downwardly revised EUR 5.62 billion in November and compared with market consensus of a EUR 4.9 billion shortfall. Exports went up much more than imports and reached a record high value amid rising Airbus sales to Malaysia, India, Singapore, China, South Korea and Thailand. For 2017, the trade gap widened to EUR 62.3 billion from EUR 48.3 billion in 2016, the highest level since 2012.

Exports grew 5.9 percent month-over-month to a record of EUR 41.6 billion, reversing from an upwardly revised 2.2 percent decline in November and after three consecutive months of falls. Sales went up mostly for aerospace products (44.4 percent), due to a strong rise in Airbus deliveries (64 units compared to 35 in November). Other increases were also seen in exports of ships, trains, motorcycles (29.6 percent); chemical products (6.9 percent), mainly to the EU; refined oil (5.2 percent), especially to Algeria, Switzerland and the United Arab Emirates; metallurgy and metal products (4.8 percent); autos (3.7 percent), mainly to Belgium, Spain, Slovakia, Japan and China; hydrocarbons (1.8 percent); and clothing (1.7 percent), namely leather goods to Singapore, Hong Kong and the US. 

Imports increased only 0.4 percent to EUR 45.1 billion, following an upwardly revised 0.7 percent fall in November. Biggest rises were seen in purchases of chemicals (4.9 percent); autos (4 percent); rubber and plastic products (3.8 percent); pharmaceuticals (3.5 percent); and perfumes, cosmetics, cleaning products (3 percent). On the other hand, main drops were recorded for works of art, technical documentation, publishing products (-10.8 percent); aerospace products (-8.2 percent) and refined oil (-3.2 percent).

French Trade Gap at 1-1/2-Year Low in December


Ministère de l'Économie et des Finances | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
2/7/2018 11:57:58 AM