French authorities cannot prevent the country’s trade deficit

Global Look Press / Florian Gaertner/photothek.net v

France’s General Administration of Customs reported a new record trade deficit due to higher energy prices and higher inflation rates, Figaro writes.

In April, the country’s trade deficit reached 12.4 billion euros. According to data for the last six months, it is 71 billion euros, and experts do not exclude that growth will continue to 121.9 billion euros over the year.

“More than half of the increase in the cost of imports is due to the energy situation, mainly due to the purchase of natural hydrocarbons, the price of which remains very high in the face of geopolitical tensions,” customs explains.

The volume of French imports amounted to 62.1 billion euros, showing an increase of 0.7 billion. Exports also increased – by 0.4 billion, amounting to 48.8 billion euros.

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