France Trade Deficit Widens In June

France trade deficit has widened in June, according to customs office data. The trade deficit widened to 4.66 billion in June from 4.43 billion in the preceding month. The recent data came on the back of advancing trade in May.

During the same month of 2016, France trade deficit was 3.42 billion.

The reason behind the wider trade deficit was that France’s export slipped 2.8 percent in June following a 5.0 percent expansion in May. Similarly, imports also recorded a 2.0 percent fall after a 2.0 percent increase in the preceding month.

The last 12-month trade deficit reached 59.8 billion from 50.2 billion in the preceding year period.

The ship building industry was blamed for the deterioration of the trade balance as the delivery of the Meraviglia liner was made in May. Aside from that, aerospace industry and automotive products have also contracted while the fall in the chemicals surplus was due to moderation in deliveries to member nations.

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