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- France's trade deficit rose sharply in March
France's trade deficit rose sharply in March
According to the report from Ministry for the Economy and Finance, in March, the deficit increased by 1.2 billion euros to reach 5.3 billion euros after 4.1 billion euros in February, against a backdrop of higher import trade . Thus, the strong growth of imports (+ 1.7 billion) far exceeds that of exports (+0.5 billion). The surge in supplies of natural hydrocarbons, crude oil but also natural gas, is contributing to the rise in imports. On the export side, the sharp rebound in aeronautical deliveries, after February's dip, was mitigated by the backlash in the exceptional shipments and shipments in February.
In March, the trade balance worsened considerably with non-EU Europe as a result of the sharp decline in exports, reflecting the very high shipments and shipments to Switzerland in February, and the sharp increase in energy supplies. from Russia. The deficit with Asia increased for the fourth month in a row, due to lower exports, notably aeronautical shipments to China and basic chemicals to South Korea. With Africa, the balance deteriorates after the improvement in February, the increase in imports, particularly energy, being higher than that of exports. With America, the balance is also deteriorating because of a stronger dynamism of imports while with the European Union, the deficit is almost stable after two months of aggravation. Conversely, the balance with the Near and Middle East appreciates appreciably in March thanks to an increase in aeronautical deliveries.
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