France’s trade deficit widened to €8.3 billion in September 2024, up from a downwardly revised €7.7 billion in August and exceeding expectations of a €6.5 billion shortfall. This marks the largest trade gap since October 2023.
France trade gap at near 1-year high
Exports fell by 1.4% to €48.59 billion, reaching their lowest level since May 2022. Key sectors contributing to the decline included industrial products (-0.9%), transport equipment (-7.9%), natural hydrocarbons and extractive industries, electricity, and waste (-9.3%), as well as refined petroleum products and coke (-21.3%). Exports also dropped across major regions: the European Union (-0.7%), Asia (-3.7%), and the Americas (-1.9%).
Imports also decreased
On the other hand, imports decreased by 0.3% to €56.85 billion, driven by reduced purchases of mechanical, electrical, electronic, and computer equipment (-4.4%) and agricultural, forestry, fishing, and aquaculture products (-1.8%). Regionally, imports from the EU fell by 0.4%, from the Americas by 2.5%, and from Africa by a sharp 15.8%.
