French trade gap widens in February

12th April 2005, Comments 0 comments

PARIS, April 12 (AFP) - The French trade deficit increased to EUR 1.517 billion (USD 1.968 billion) in February, driven mainly by energy and industrial imports, customs figures showed Tuesday.

PARIS, April 12 (AFP) - The French trade deficit increased to EUR 1.517 billion (USD 1.968 billion) in February, driven mainly by energy and industrial imports, customs figures showed Tuesday.

The trade balance for the year to date showed a deficit of EUR 2.740 billion compared with a surplus of EUR 553 million over the same period in 2004.

The January trade gap was revised upward to EUR 1.223 billion, from a deficit reported initially at EUR 931 million.

In February exports totalled EUR 29.537 billion compared with EUR 29.341 billion the previous month, revised from EUR 29.844 billion, the provisional, seasonally adjusted figures showed.

Imports were EUR 31.054 billion compared with EUR 30.564 billion in January, revised from EUR 30.775 billion.

In the energy sector, the trade gap widened to EUR 2.779 billion in February compared with a deficit of EUR 2.638 billion a month ago.

The customs service said the monthly energy bill, which has exceeded EUR 2.5 billion since mid-2004, "explains the current run of deficits".

The industrial balance showed a deficit of EUR 461 million, down from a EUR 235-million-surplus in February.

Aircraft exports by Airbus, the Toulouse-based European aircraft maker, totalled 17 in February, valued at EUR 1.153 billion, compared with 11 in January for EUR 621 million.

The customs agency noted that Airbus exports were unusually high for the beginning of a year.

Food products showed a February surplus of EUR 624 million, declining from a surplus of EUR 691 million in January.

France's trade balance with the other members of the 25-state European Union was a negative EUR 465 million in February compared with a negative EUR 415 million in January.

Trade with Germany, Europe's biggest economy, showed a deficit of EUR 1.352 billion compared with a negative EUR 1.166 billion in January.

The trade balance with the rest of the eurozone was a deficit of EUR 1.417 billion compared with a EUR 1.103 billion deficit in January.

Trade with Japan was minus EUR 403 million, narrowed from a deficit of EUR 437 million in January.

The trade surplus with the United States rose to EUR 445 million in February from EUR 251 million a month earlier.

© AFP

Subject: French News

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