French trade deficit widens in August

October 11, 2006 - 0:0
PARIS (AFP) -- The French trade deficit widened in August as high energy costs outweighed a pick up in exports, the customs service said Tuesday.

The deficit increased to 3.535 billion euros (4.45 billion dollars) a revised deficit of 3.403 billion in July, seasonally corrected figures released by the service showed.

While the value of French exports grew to 32.318 billion euros from 31.621 billion, the trade deficit "remained at its highest level" owing to increased imports and an energy bill that also "remained high", the service said.

Auto exports picked up after slumping for several months along with sales of food products, but sales of Airbus aircraft fell to 15 from 19 in July and 23 in June.

On the import side, purchases of natural gas stabilized at around one billion euros and imports of refined petroleum products decreased, but the country bought greater amounts of crude oil, the figures showed.