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French trade deficit hits record high in November -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A closed site of construction of extensions buildings is seen by cranes in Paris. It was part of a lockdown to reduce the spread coronavirus disease, COVID-19, in Paris on April 8, 2020. REUTERS/Charles

PARIS (Reuters – France’s November trade deficit was record, as rising energy prices drove imports up. Official data on Friday showed that France had a record level of December trade deficit.

With imports at an all time high 52.5 billion euro, against 51.3 billion October, the deficit increased to 9.727 milliards euros ($10.99 trillion) from 7.697 miliarde a month before.

France is one of many countries that have been suffering from an energy shortage since 2013. The removal of COVID-19 restraints has placed enormous demands on depleted supplies of which, sending gas prices, carbon emission permits and other commodities at their highest levels in years.

Official data also showed that the French manufacturing output declined 0.4% in November, compared to October. That is contrary to the median economist forecast of a 0.5% rise.

Consumption was little more than expected at +0.8%.

($1 = 0.8850 euros)

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