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Financial News: France Trade Deficit Widens In June

France Trade Deficit Widens In June

08/07/2020 - 04:06:00 (RTTNews)

(RTTNews) - France's foreign trade activity continued to recover in June after the Covid-19 pandemic with the trade deficit widened to set a monthly record as imports exceeded exports, the French Customs said Friday.

The trade deficit increased to EUR 7.955 billion from EUR 5.588 billion in the same month last year. In May, the shortfall was EUR 7.458 billion.

Imports returned to 85 percent and exports to 75 percent of their average level for 2019, the agency said. In June, imports decreased 27 percent year-on-year and exports fell 34.6 percent. Compared to the previous month, imports rose 14.8 percent and exports grew 16.9 percent. In the June quarter, exports decreased 28.9 percent from the previous three months and imports fell 20.7 percent. The energy deficit was largely unchanged in June, the agency said.

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