Paris: France's trade deficit expanded to 7.6 billion euro (USD 8.9 billion) in May following a significant improvement in April, as indicated by official data released on Tuesday. This development highlights ongoing challenges in balancing the country's trade despite some gains in the energy sector.
According to Kuwait News Agency, customs officials informed BFM TV that exports experienced a decline of 1 billion euro (USD 1.17 billion) on a three-month moving-average basis. This decrease in exports surpassed a 600 million euro (USD 705 million) reduction in imports, contributing to the widening trade gap.
The monthly trade shortfall climbed to 7.8 billion euro (USD 9.16 billion), compared to 7.2 billion euro (USD 8.45 billion) in April. While there was an improvement in the energy balance due to lower energy imports, this was countered by a weaker performance in manufactured goods, which was identified as the primary factor for the increased deficit, as per customs reports.
Over the last year, the trade gap amounted to 80 billion euro (USD 93 billion), slightly improving from an 81 billion euro (USD 95 billion) deficit in 2024, based on statistical data. France continues to face challenges in achieving a goods-trade surplus, a feat not accomplished since 2002, customs noted.