The country improved its result thanks to a drop in the supply of energy and non-energy products.
By Le Figaro with AFP
Posted update
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France’s trade deficit on goods fell by 0.5 billion euros month on month in January to 13.6 billion euros thanks to a reduction in the energy bill, the report reported on Friday. Insee, citing customs figures. Imports were 63.6 billion and exports 50.0 billion euros, customs said. Cumulatively over 12 rolling months, France’s trade deficit, which had reached the historic record of 164 billion euros in 2022, continues to deteriorate, to 169.2 billion euros, according to the same source.
In detail, supplies of energy products fell by 300 million euros over one month and those of non-energy products by 500 million euros, while exports also fell by 300 million euros. Energy prices, which soared in 2022, fell 7.3% in January. The trade deficit observed for capital goods widened to 3.5 billion euros, reaching a new historic record after that of November 2021 (-3.4 billion euros), due to a slight decrease in exports.
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For its part, the Banque de France reported on Friday a reduction in the current account deficit to 3.6 billion euros, against 7.6 billion in December. This improvement is mainly due to thereduction in the deficit in goods due to the reduction in the energy billwhile services showed a surplus of 3.7 billion euros in January, against 2.7 billion in December. On the other hand, as in December, the balance of consumer goods was slightly positive with a surplus of 0.1 billion euros.
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