France: The Trade Deficit in November

In November, the surge in exports reduced the trade deficit in France

The surge in exports, which rose 5.3% in November against 0.7% in October, has reduced the trade deficit in France. It was 4.4 billion euros against 5.2 billion in October.

Customs, which issued the information indicates that this beautiful healthy exports in November  “due mainly to the performance recorded for transport (in particular aviation) and intermediate goods.”

As for imports, they grew much less quickly, at a rate of 2.8%, after 0.3% in October. Over the last twelve months, the accumulated deficit reached 50.1 billion euros against 45.2 billion in the same period last year, say the Customs. The main improvement in the trade balance in November concerning the transport sector, whose sales have been revived “thanks to the large contracts of aerospace, naval and space” .

The ailing automobile

This enhancement does not apply to the automotive sector: “after two months of improvement, the deficit increases due to higher vehicle imports” , said the customs. For agricultural products, the deficit declined “due to a rebound in sales and a decline in purchases” . According to Customs, the deterioration of the energy balance is, however, “pronounced” , “supplies of natural hydrocarbons and refined petroleum products are increasing again due to amplification of volumes conveyed” .

By region, the trade balance improved with America, with “very strong increase in sales of transport equipment” which allows “a net vis-à-vis surplus in this zone” . With the EU, the deficit was also reduced by an increase in sales. However, evolution is unfavorable with Europe outside the EU, Africa, Asia and Middle East. 

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