France's trade deficit widened in February to reach 4.8 billion euros due to a resumption of imports, especially energy, Customs announced Thursday.
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Excluding energy, the deficit is relatively stable due to the overall sluggishness of trade
" since the start of the year, Customs noted in their press release.
This increase in the deficit comes "after a period of uninterrupted decline from July to December 2020" and is mainly explained by the "marked recovery in energy imports".
Thus, the energy deficit, which had remained around 2 billion euros each month since April 2020, widened by 600 million in February.
"Trade with the United Kingdom is disrupted"
As for exports, their growth, which began in June, has slowed "sharply in recent months".
In February, exports were "almost stable and reached 93% of their average level of 2019".
Customs also note that since the implementation of Brexit on December 31, "trade with the United Kingdom is disrupted".
Exports across the Channel have not returned to their previous level: they correspond to 84% of their average monthly level in the second half of 2020.
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Regarding the balance of payments, which includes trade in services, the deficit widens to reach 2.6 billion, after 2 billion in January, according to the Banque de France.
This deterioration results both from the deficit in trade in goods, but also from the reduction in the surplus in trade in services (which stands at 1 billion euros against 1.2 billion in January).
This surplus is melting due to the drop in the collapse of global tourism caused by the Covid-19 pandemic which particularly affects the countries of southern Europe and France.
