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Financial News: French Trade Deficit Widens In June

French Trade Deficit Widens In June

08/05/2022 - 08:02:00 (RTTNews)

(RTTNews) - France's foreign trade deficit widened markedly in June from a year ago, as imports grew more rapidly than exports, data from the customs office showed on Friday.

The trade deficit increased to EUR 13.06 billion in June from EUR 5.79 billion in the corresponding month last year. In May, there was a shortfall of EUR 12.90 billion.

Exports grew 18.7 percent yearly in June, while imports rose at a much faster pace of 30.8 percent.

On a monthly basis, both exports and imports increased by 3.3 percent and 2.8 percent, respectively.

Elsewhere, data from the Bank of France showed that the current account deficit decreased by EUR 2.1 million from the prior month to EUR 1.6 billion in June.

In the second quarter, the current account deficit totaled EUR 8.6 billion versus a shortfall of EUR 1.1 billion in the first quarter.

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