France’s trade deficit continued to widen in June, to 13.07 billion euros, due to the increase in the energy bill, according to data released on Friday by the French customs office.
Analysts polled by Reuters had on average expected a deficit of 12.56 billion euros.
At the end of May, the deficit stood at 12.91 billion euros after revision.
In the first half, Customs noted „a sharp deterioration in the trade balance of goods” to -71 billion euros, against -51 billion euros in the previous half.
„Since the aggression of Ukraine by Russia, France has suffered the same fate as the main countries of the European Union: all have seen their trade balance deteriorate since the beginning of 2022 due to the explosion energy prices”, explains Olivier Becht, Minister Delegate to the Minister for Europe and Foreign Affairs, in a press release.
The Directorate General of Customs nevertheless underlines that exports confirm their recovery to 285 billion euros in the first half of 2022, now exceeding their pre-health crisis level.
Imports are „very dynamic”, indicate Customs (+26%), but the energy bill has however reached a new record at 48 billion euros against 27 billion the previous half.