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Financial News: France Trade Deficit Widens In June

France Trade Deficit Widens In June

08/07/2019 - 04:04:00 (RTTNews)

(RTTNews) - France's merchandise trade deficit widened in June after narrowing in the previous two months, amid a slump in exports, preliminary data from the French Customs showed on Wednesday.

The trade deficit rose to EUR 5.18 billion from EUR 3.27 billion in May. Economists had forecast a shortfall of EUR 4.11 billion.

Exports dropped 4.9 percent year-on-year, entirely reversing May's 4.3 percent gain. Imports decreased 0.6 percent.

The export decline was led by lower shipments of military equipment, aerospace products, iron and steel products, measuring and navigation equipment, beverages and pharmaceuticals.

Year-on-year, exports grew 5.8 percent and imports rose 2.1 percent.

In the second quarter, exports edged up 0.1 percent, after a 0.6 percent in the first three months of the year. Imports dropped 0.2 percent, marking the first fall since the March quarter of 2018.

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