Why France’s trade deficit keeps growing

Posted Dec 7 2022 at 02:42 PMUpdated 7 Dec. 2022 at 04:23 PM

A shallow do not do the spring. France’s trade deficit narrowed in October to 12.2 billion euros, after 17 billion in September, Customs announced on Wednesday. With stocks almost replenished, France has reduced its gas imports. It also reduced its purchases of electricity, the prices of which also fell sharply. As a result, the deficit linked to the energy bill was reduced to 9.3 billion euros, against nearly 13 billion a month earlier.

For the first time in its history, the foreign trade deficit nevertheless exceeds the 150 billion euro mark over one year, at precisely 154.2 billion euros according to Customs, a figure close to Bercy’s forecast for the year 2022, namely 156 billion. “The October figures do not change the structural trends of France’s trade balance,” underlines Thomas Grjebine, economist at Cepii.

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