France Recorded $6.45 Billion Trade Deficit in August

Forex News

French trade deficit extended more than expected in August, amid fall of aircraft exports. The customs office reported, that France’s trade deficit widened to 5.6 billion euros ($6.45 billion) seasonally adjusted in August, after 3.4 billion euros in July. Economists had forecast on average a shortfall of 4.5 billion euros.

Separately, the central bank said the current account showed a deficit of 1.6 billion euros in August after a surplus of 300 million euros in July owing to the larger trade deficit and a smaller services surplus.

It was also reported, that imports grew by 4.9% in August from July due mainly to an increase in France's energy bill. Meanwhile, exports fell 0.1%, as Airbus shipments pulled back after a strong July.