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France : Merchandise Trade  
Released On 9/7/2017 2:45:00 AM For Jul, 2017
PriorPrior RevisedActual
LevelE-4.66 BE-4.88 BE-5.97 B

The seasonally adjusted trade deficit stood at E5.97 billion in July, a significant widening from the slightly larger revised E4.88 billion posted in June and the most red ink since February.

The deterioration was wholly attributable to stronger imports which rose 3.0 percent on the month to a near-record high. Aeronautics and chemicals were mainly to blame but there were gains too in industrial machinery and intermediate products. Exports were up a more modest 0.5 percent.

Total net exports boosted quarterly economic growth by fully 0.6 percentage points in the second quarter but July's jump in the trade deficit warns that any positive contribution this quarter will be significantly less. This means that if last quarter's 0.5 percent GDP rate is to be matched, domestic demand will have to fill the hole and this will almost certainly require a stronger performance by household spending.

The merchandise trade balance measures the difference between imports and exports of goods. The level of the international trade balance, as well as changes in exports and imports, indicate trends in foreign trade and can offer a guide to an economy's competitiveness.  Why Investors Care

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