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Financial News: France Current Account Deficit Increases In July

France Current Account Deficit Increases In July

09/08/2021 - 07:50:00 (RTTNews)

(RTTNews) - France's current account deficit widened in July driven by a sharp rise in the visible trade gap, the Bank of France said on Wednesday.

The current account deficit increased to EUR 3.5 billion from EUR 0.9 billion in June.

The deterioration was mainly due to the degradation of the deficit of goods excluding energy by EUR 2.9 billion, while the deficit in energy goods remained stable at EUR 2.9 billion.

The surplus on services fell slightly to EUR 2.8 billion, mainly due to the deterioration in consulting services, despite the improvement in the travel surplus by EUR 0.4 billion.

Primary and secondary income showed a deficit of EUR 0.4 billion in July. Data showed that the capital account surplus was EUR 0.1 billion, while the financial account posted a deficit of EUR 3.5 billion in July.

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