2023-07-07 04:09:37 ET
France's trade deficit narrowed to €8.4B in May of 2023, following an upwardly revised €10.6B deficit in April and below market forecasts of €9B shortfall.
Exports rose by 4.6% month-over-month to a nine-month high of €52.3B, while imports fell by 0.5% to €60.8B.
The energy gap shrank to €5.4B from €7.1B in April due to stable energy imports, which were influenced by an increasing volume and a price effect, while energy exports experienced a slight decline of €0.1B. Excluding energy, the trade deficit narrowed slightly to €5.1B from €5.5B.
In relation to the manufacturing industry, there was a marginal improvement of 0.1 billion in the balance of trade for capital goods, while the balances for consumer goods declined by 0.2 billion. Additionally, the balance of intermediate goods remained stable throughout May.
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France trade deficit narrowed to €8.4B in May, below forecast