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French current account surplus shrinks

PARIS, Dec 16 (AFP) – France’s current account surplus shrank to EUR 100 million (USD 123 million) in October from EUR 1.5 billion in September, the Bank of France reported Tuesday, citing seasonally corrected figures.

Unadjusted for seasonal variations, the French current account in October showed a deficit of EUR 2 billion.

The current account is a broad measure of a country’s commercial relations with the rest of the world, covering trade in goods and serivces and certain financial transactions.

The goods component showed a deficit of EUR 200 million in October after a surplus of EUR 600 million in September, reflecting 0.9 percent decline in exports and a 2.5 percent gain in imports.

The services sector posted a surplus of EUR 1.4 billion after EUR 1.1 billion in September.

The bank report also revealed that in the first 10 months of the year net outflows of capital from France came to EUR 17.4 billion against EUR 16.7 billion in the same period last year.

 © AFP

                                                                Subject: France news