France trade deficit widened further in July 2022.
France's energy bill increased by 0.4 billion euros in July, "in the wake of increased imports of electricity and refined oil".
14.5 billion euros. Here is the amount of France's trade deficit, which widened again in July. It amounted to 13.1 billion in June, customs reported on Thursday.
France trade deficit
Imports, driven by the increase in the energy bill, amounted to 63.3 billion euros and grew faster than exports, which reached 48.7 billion, customs said in their statement.
Over three rolling months, a measure frequently used to smooth out one-off hazards, the trade deficit widened by 0.5 billion euros, from 13.5 billion euros to 14 billion euros.
The current account deficit, which includes services, also widened in July to 5.3 billion euros, compared with only 1.5 billion in June, the Banque de France reported.
France trade deficit data
The services surplus shrank to EUR 5.6 billion from EUR 7.1 billion. The surplus of travel services is down to 1.5 billion, against 1.7 billion, despite the excellent tourist season recorded by France this summer. Finally, the country's financial account records net capital outflows of 12.7 billion euros.
In detail, the customs specify that the energy bill increased by 0.4 billion euros in July, "in the wake of the increase in imports of electricity and refined oil".
The deficit in investment goods stood at 3.2 billion euros, slightly less than in June, due to a slowdown in imports, while the deficit in trade in consumer goods remained stable at 0.8 billion. Finally, the deficit of intermediate goods decreases very slightly to 2.8 billion.
# France trade deficit #
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