Significant increase in energy imports worsens France’s trade balance in February

Golden Ten Data reported on April 8 that France's trade balance in February deteriorated sharply by 3.8 billion euros, with the deficit reaching 5.8 billion euros. This was due to a significant increase in imports of 2.6 billion euros, while exports decreased by only 1.2 billion euros. In detail, the growth in imports was driven by natural hydrocarbons (800 million euros), transport equipment (700 million euros), and pharmaceuticals (500 million euros). Meanwhile, the decline in exports was due to significant drops in electricity exports (-400 million euros) and aerospace products (-300 million euros). Overall, energy imports increased by 600 million euros month-on-month, but due to the impact of the Middle East conflict, energy imports in March are certain to surge. This will repeat the trade balance trend observed during the Russia-Ukraine conflict. Therefore, it is necessary to remain alert in the coming months.