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Financial News: France Trade Gap Widens Amid Rising Imports

France Trade Gap Widens Amid Rising Imports

01/09/2023 - 07:36:00 (RTTNews)

(RTTNews) - France's trade deficit widened in November as exports declined amid rising imports, data from customs office showed Monday.

The trade deficit climbed to EUR 13.77 billion in November from EUR 11.59 billion in October. In November 2021, the deficit totaled EUR 10.20 billion. Exports decreased 1.4 percent from the previous month, while imports grew 2.3 percent in November.

On a yearly basis, exports logged a double-digit growth of 19.3 percent. At the same time, imports registered a much faster increase of 27 percent.

Another report from the Bank of France showed that the current account deficit increased to EUR 6.8 billion in November from EUR 3.4 billion in October.

The visible trade gap rose to EUR 11.8 billion from EUR 9.9 billion and the surplus on trade in services decreased to EUR 2.4 billion from EUR 4.0 billion.

Primary and secondary income increased to EUR 2.6 billion in November from EUR 2.5 billion a month ago, data showed.

The financial account showed net capital inflows of EUR 15.9 billion in November.

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