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French trade gap narrows to €9.9 billion

French trade gap narrows to €9.9 billion

Paris, 8 April 2023 (dpa/MIA) - France's foreign trade deficit decreased in February, as exports rose amid a fall in imports, data from the customs office showed Friday.

The trade deficit dropped to €9.9 billion ($1.08 billion) in February from €12.5 billion in January.

In the corresponding month of 2022, the deficit totalled €11.8 billion.

Exports climbed 2.9% from the previous month, while imports dropped by 2.0%.

On a yearly basis, both exports and imports surged by 8.7% and 10.7%, respectively.

Separate data from the Bank of France showed that the current account deficit of the country narrowed somewhat to €3.0 billion in February from €3.3 billion in January.

The goods trade deficit fell to €8.6 billion from €9.9 billion, mainly due to the reduction of the energy bill, but remained at a high level. This improvement was offset by a decrease in the surplus of services, which shrank to €2.7 billion from €3.5 billion.