French Trade Deficit Narrows in June


French trade gap decreased to €2.67 billion in June of 2015 from a revised €3.99 billion deficit recorded in the preceding month as exports grew much faster than imports. It is the smallest deficit since March 2007.

Exports increased by 3.9 percent to €39.62 billion in June of 2015 as compared to a month earlier. Outbond shipments rose for: aerospace industry products (+13.4 percent); automotive products (+8.2 percent); agriculture (+4.9 percent); ships, trains and bikes (+4.6 percent); computer, electronic & optical (+2.2 percent); perfumes, cosmetics, cleaning products (+3.3 percent); natural hydrocarbons (+1.5 percent); metalurgical & metal products (+0.8 percent); electrical and household equipment (+0.9 percent); wood, paper, cardboard (+0.3 percent); chemicals (+0.4 percent) and rubber products, plastics, various minerals (+0.8 percent). In contrast, outbond shipments declined for: works of arts, technical documentation, publishing products  (-2.2 percent); jewelry, toys, furniture (-2.4 percent); textiles, leather (-3.0 percent); refined oil (-1.2 percent) and industrial & agriculture machinery (-0.7 percent).

Exports to all the country's trading partners increased in June. Those to the Middle East countries rose the most by 20.8 percent, followed by Africa (+13.5 percent), the EU countries (+1.7 percent), the European outside the EU (+5.0) America (+0.6 percent) and Asia (+0.2 percent).

Imports rose by 0.4 percent to €42.27 billion as compared to the previous month. Purchases increased the most for: refined oil (+25.9 percent), followed by works of arts, technical documentation, publishing products (+8.6 percent); pharmaceuticals (+4.2 percent); textiles, leather (+2.7 percent); industrial & agriculture machinery (+1.0 percent); natural hydrocarbons (+1.0 percent); rubber products, plastic, various minerals (+0.8 percent) and chemicals (+0.5 percent). In contrast, inbound shipments fell for:  aerospace industry products (-15.7 percent); ships, trains, bikes (-8.2 percent); automotive products (-1.8 percent); perfumes, cosmetics, cleaning products (-1.6 percent) and computer, electronic & optical (-1.1 percent).

French Trade Deficit Narrows in June


Ministère de l'Économie et des Finances l Rida Husnal rida@tradingeconomics.com
8/7/2015 8:52:49 AM