France Posts Largest Trade Gap On Record In January


France recorded a trade gap of EUR 7.94 billion in January of 2017, compared to an upwardly revised EUR 3.57 billion deficit in December while markets expected a EUR 3.70 billion shortfall. It was the largest deficit on record, as exports fell 7.7 percent month-on-month to EUR 37.19 billion while imports rose 2.9 percent to EUR 45.13 billion.

In January, sales went down for: aerospace industry products (-45.8 percent), pharmaceuticals (-1.3 percent), industrial & agriculture machinery (-0.1 percent), chemicals (-1.5 percent), electrical and household equipments (-3.1 percent), perfumes, cosmetics, cleaning products (-2.8 percent); ships, train, bikes (-4.7 percent) and refined oil (-4.0 percent). In contrast, outbound shipments rose for: textiles, leather (0.4 percent), agricultural products (1.2 percent), automotive products (0.6 percent);  jewelry, toys, furniture (7.2 percent) and  works of arts, technical documentation, publishing products (3.0 percent).

Exports declined to all destinations: America (-4.9 percent), Africa (-1.4 percent), the European countries outside EU (-3.6 percent), the Middle-East countries (-32.0 percent), the EU countries (-0.4 percent) and Asia (-29.8 percent).

Imports increased for: pharmaceuticals (34.0 percent), natural hydrocarbons (23.2 percent); works of arts, technical documentation, publishing products (8.7 percent); ships, trains, bikes (6.2 percent), industrial and agriculture machinery (3.9 percent), chemicals (2.0 percent); jewelry, toys, furniture (3.1 percent), electrical and household equipments (2.6 percent), metallurgical and metal products (4.9 percent) and perfumes, cosmetics, cleaning products (2.4 percent). In contrast, purchases dropped for: textiles, leather (-3.0 percent), agricultural products (-3.3 percent), automotive products (-0.5 percent) and refined oil (-2.7 percent).

France Posts Largest Trade Gap On Record In January


Ministère de l'Économie et des Finances l Rida Husna | rida@tradingeconomics.com
3/8/2017 8:55:42 AM