French trade deficit widens 26.7 percent in May

0 Comments | AFP, July, 2008

PARIS (AFP) — The French trade deficit widened 26.7 percent in May from the April figure, official data showed opn Wednesday, and analysts said this highlighted chronically weak competitiveness.

Customs authorities said the shortfall came to 4.738 billion euros (7.4 billion dollars) in May, when the value of exports fell to 34.719 billion euros from 35.313 billion in April.

Imports by contrast climbed to 39.457 billion euros from 39.052 billion.

The deficit in the 12 months to May came to 45.603 billion euros.

"The deterioration in the deficit is general both by sector and region," said analyst Marc Touati of Global Equities.

"Whether it's in capital goods, intermediate goods, automobiles, whether it's sales destined for the European Union,...