French current account shrinks in April

15th June 2007, Comments 0 comments

PARIS, June 15, 2007 (AFP) - The French current account deficit narrowed to 0.8 billion euros (1.1 billion dollars) in April from 1.9 billion in March on improved performance abroad by the French services sector, official figures showed on Friday.

PARIS, June 15, 2007 (AFP) - The French current account deficit narrowed to 0.8 billion euros (1.1 billion dollars) in April from 1.9 billion in March on improved performance abroad by the French services sector, official figures showed on Friday.

The current account is a broad economic measure, reflecting trade in goods and services as well as certain financial transfers.

The shortfall came came to 3.2 billion euros in February.

The Bank of France said the contraction in April was mainly due to a 0.7-billion-euro surplus in the services component.

Trade in goods showed a deficit of 1.7 billion euros, after 1.9 billion in March, according to the bank.

It said direct French investment abroad came to 11.6 billion euros in April, compared with 12.9 billion in March.

The value of foreign investment in France slipped to 7.8 billion euros from 8.3 billion in March.

In the 12 months to April, France attracted 65.9 billion euros in foreign investment, roughly equivalent to the same period in 2005 and 2006.

French investment abroad in the year to April rose sharply to 116.8 billion euros, the Bank of France said.


Copyright AFP

Subject: French news

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