French current account surplus wiped out in 2004

16th February 2005, Comments 0 comments

PARIS, Feb 16 (AFP) - France sustained a EUR 4.19 billion (USD 5.5-billion) deficit in its current account, a broad measure of foreign trade, in 2004 afer posting a surplus of EUR 4.02 billion in 2003, official figures revealed Wednesday.

PARIS, Feb 16 (AFP) - France sustained a EUR 4.19 billion (USD 5.5-billion) deficit in its current account, a broad measure of foreign trade, in 2004 afer posting a surplus of EUR 4.02 billion in 2003, official figures revealed Wednesday.

In December the current account deficit widened to EUR 1.184 billion from EUR 266 million in November, the Bank of France and the finance ministry reported.

They said merchandise trade for the year showed a deficit of EUR 6.127 billion, after a surplus of EUR 1.568 billion in 2003, that was mainly attributable to higher energy costs and increased imports of consumer goods.

In the month of December, they added, the deficit reflected a fall in the value of exports as well as a slight dip in imports.

The current account measures trade in goods and services as well as certain financial transfers and direct investment.

© AFP

Subject: French News

0 Comments To This Article