France's trade deficit continued to decline in November, falling by 600 million to 3.9 billion euros, the lowest since June 2016, Customs announced on Friday.
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The increase in exports combined with the stability of imports explains this reduction in the deficit, which is however less strong than in October (-1.2 billion) and in September (700 million euros), according to the customs statement.
The balance had deteriorated markedly this summer due to the post-containment rebound but has continued since its recovery, driven by the increase in exports which increased by 700 million euros in November where imports only increased by 100 million. euros.
"
In cumulative over twelve rolling months, the deficit has been maintained for four months at the high level of 65 billion euros
", note however the Customs.
The energy deficit remained at a “
historically low
” level of 1.8 billion euros in November and that of capital goods continued to decline to reach 1.7 billion, ie a level close to that of March.
The balance is also improving for consumer goods, with the balance returning to its pre-crisis level.
"
The supplies of products for the textile industry
(including masks) are
declining sharply,
" according to the press release.
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Regarding the balance of payments (which includes services, including tourism), the balance also improved markedly to stand at 1.4 billion euros.
The balance of services shows a surplus of 600 million in November, "
driven by the improvement in the balance of consulting, R&D and other services provided to businesses as well as transport
", according to the Banque de France.
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