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Financial News: French Current Account Gap Narrows In Q4

French Current Account Gap Narrows In Q4

02/05/2021 - 06:06:00 (RTTNews)

(RTTNews) - France's current account deficit narrowed in the fourth quarter, thanks to a smaller shortfall in non-energy goods, the Bank of France said Friday.

The current account deficit halved to EUR 7.5 billion from EUR 13.2 billion in the third quarter.

Excluding energy, the goods trade resulted in a deficit of EUR 4 billion compared to a EUR 12.3 billion shortfall in the third quarter.

Meanwhile, the surplus on services decreased to EUR 2.4 billion from EUR 3.8 billion. The primary and secondary income came in at -EUR 0.8 billion versus -EUR 1.1 billion in the third quarter.

The balance of the financial account in the fourth quarter was EUR 8.9 billion in the fourth quarter.

In 2020, the current account deficit totaled EUR 53.3 billion, resulting from a historical deterioration of EUR 37 billion compared with 2019.

In December, the current account deficit narrowed to EUR 1.2 billion, data showed.

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