Trade Balance in France

It measures the gap between France's exports and imports of goods over the month. The market follows the customs (Douanes) series on an FOB/FOB basis, adjusted for seasonal and calendar effects. A negative balance (deficit), the norm in France, means it imports more goods than it exports.

The Directorate General of Customs (DGDDI) compiles customs records of trade in goods. The FOB/FOB balance (free on board on both flows) is published monthly alongside the levels of exports and imports, in millions of euros and adjusted for seasonal and calendar effects. INSEE announces the release date.

A wider-than-expected trade deficit tends to weigh on the euro and reflects a loss of competitiveness or dearer imports (energy); an improving balance supports GDP through net external demand.

It covers goods only (not services or tourism, which in France offset part of the deficit); the monthly series is volatile (large aircraft orders, energy) and is revised in later releases.