The trade deficit in France narrowed to €3.3 billion in March of 2020 from a downwardly revised €5 billion in the previous month. It is the lowest trade gap since December of 2016 as the coronavirus pandemic and lockdown restrictions pushed both imports and exports down. Imports plunged 18.5% to €38.54 billion, the lowest since October of 2010 mainly due to a 14.6% drop in industrial purchases and an 18% fall in imports of mechanical, electrical and electronic equipment. Purchases from the EU went down 19.4%. Exports plunged 16.7% to €35.19 billion, the lowest since July of 2011, also due to lower sales of industrial products (-8.4%), transport equipment (-32%) and mechanical, electrical and electronic equipment (-18.3%). Shipments to the EU dropped 18.6%. Considering Q1, exports went down 7.3% and imports 6.2%, widening the trade gap to €14.5 billion.
Balance of Trade in France averaged -1336.74 EUR Million from 1970 until 2020, reaching an all time high of 2674 EUR Million in October of 1997 and a record low of -7372 EUR Million in January of 2017. This page provides the latest reported value for - France Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. France Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Ministère de l'Économie et des Finances
Balance of Trade in France is expected to be -4300.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in France to stand at -3520.00 in 12 months time. In the long-term, the France Balance of Trade is projected to trend around -2650.00 EUR Million in 2021 and -3330.00 EUR Million in 2022, according to our econometric models.