French October trade deficit increased to around 5 billion euros

A souvenir vendor sells Eiffel tower models at Trocadero square near the Eiffel Tower in Paris
A souvenir vendor sells Eiffel tower models at Trocadero square near the Eiffel Tower in Paris, France December 6, 2017. REUTERS/Gonzalo Fuentes

December 7, 2017

PARIS (Reuters) – France’s trade deficit increased to stand at around 5 billion euros ($5.90 billion) in October compared to 4.6 billion euros in the previous month, showed seasonally adjusted data published on Thursday by the customs office.

The increase in the trade deficit was due partly to an increase in imports in the automobiles sector, and a dip in exports towards Asia of sales of products in the aerospace industry.

BACKGROUND

France has run a trade deficit every month since May 2004 as French firms have seen their share of international markets dwindle in the face of declining competitiveness. France posted its biggest monthly deficit in April 2011 with a trade gap of 7.024 billion euros.

GRAPHICS

Monthly balance, imports and exports: http://reut.rs/2nKc3RU

Share of international trade: http://reut.rs/2eB1qS5

Trade balance excluding energy: http://reut.rs/2ey6kiJ

($1 = 0.8482 euros)

(Reporting by Sudip Kar-Gupta; Editing by Dominique Vidalon)