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Financial News: French Trade Gap Widens In September

French Trade Gap Widens In September

11/08/2022 - 05:15:00 (RTTNews)

(RTTNews) - France's foreign trade deficit increased in September from a year ago, as imports grew more rapidly than exports, data released by the customs office showed on Tuesday.

The trade deficit rose notably to EUR 17.49 billion in September from EUR 7.17 billion in the corresponding month last year. In August, the deficit was EUR 15.30 billion.

The fall in trade balance was mainly due to the deterioration of the energy balance in the context of rising energy prices.

Exports were 21.9 percent higher in September compared to last year. Due to increased energy demand, imports climbed more sharply, by 36.8 percent.

Month-on-month, both exports and imports rose by 0.5 percent and 3.6 percent, respectively.

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