French trade deficit could hit record 38-39 bln euros
2007 French trade deficit will likely come close to a record 38-39 billion euros, said Secretary of State for Foreign Trade Herve Novelli
PARIS, February 7, 2008 - The 2007 French trade deficit will likely come
close to a record 38-39 billion euros (56-57 billion dollars), Secretary of
State for Foreign Trade Herve Novelli said in an interview to appear Thursday.
Novelli told the newspaper La Tribune the performance amounted to "a sad
record." The shortfall in 2006 was 28.2 billion euros, according to customs
authorities, who are due to release the 2007 figures on Thursday.
"Despite an improvement in exports, our industrial balance, which is barely
positive, cannot compensate for the energy bill," Novelli told the paper.
In the first 11 months of the year the shortfall amounted to 35.5 billion
euros, far more than the 31.7 billion forseen by the government.