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Financial News: France Trade Deficit Widens In May

France Trade Deficit Widens In May

07/07/2020 - 08:16:00 (RTTNews)

(RTTNews) - France's trade deficit widened in May amid a rise in exports and imports, the French customs office said on Tuesday.

The trade deficit rose to EUR 7.05 billion in May from EUR 5.07 billion in April.

The energy trade deficit remained at a record low, the agency said.

Exports rose 16.8 percent on a monthly basis to EUR 27.65 billion and imports grew 20.7 percent to EUR 34.71 billion.

On a yearly basis, exports and imports decreased 33.3 percent and 29.5 percent, respectively.

Data from Bank of France showed that the current account deficit widened in May.

The current account deficit rose to EUR 8.5 billion from EUR 5.8 billion in April. In the same month last year, the current account deficit was EUR 16.2 billion.

Primary and secondary income recorded a deficit of EUR 0.8 billion in May from EUR 1.3 billion in the previous month.

In May, the non-adjusted current account deficit was EUR 0.4 billion.

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