French exports rebounded and reduced the trade deficit in April to 5,6 billion euros.

French foreign trade rebounded in April. According to data published by Customs, France's trade deficit narrowed to €5,6 billion, compared to €6,4 billion the previous month. This €800 million improvement is primarily due to a strong increase in exports, which reached €54,6 billion for the month. Imports also rose, but to a lesser extent, amounting to €60,2 billion.

This positive trend is driven by several strategic sectors of the French economy. Transport equipment contributed significantly to the increase in foreign sales, particularly thanks to aircraft deliveries. Exports of electrical, electronic, and computer equipment also grew significantly. These results have allowed the French trade balance to return to a more favorable trajectory after a March marked by a decline linked to rising energy costs.

Energy bills remain a point of concern.

On the import side, the increase observed in April was mainly due to higher purchases of natural hydrocarbons, electronic products, and goods from the chemical and cosmetic industries. Despite the decline in energy supplies from the Near and Middle East, the energy bill continues to weigh heavily on France's external accounts. Geopolitical tensions in recent months have contributed to maintaining high price levels for several strategic raw materials.

Customs officials point out, however, that energy imports from the Middle East fell sharply in April, reaching their lowest level since the end of 2020. To offset this decline, France increased its purchases from other suppliers, particularly in the United States and Africa. This shift in trade flows improved the balance with Middle Eastern countries but simultaneously widened the trade deficit with several African partners.

A trend of recovery over one year

Over the past twelve months, France's trade balance has shown a cumulative deficit of €58,3 billion. While this level remains high, Customs officials believe the overall trend is toward gradual improvement. The dynamism of industrial exports and the strong performance of certain high value-added sectors are contributing to this recovery.

The Bank of France also notes an improvement in the current account balance, which encompasses not only trade in goods but also services and income. This balance stood at -€200 million in April, compared to -€900 million the previous month. Services, in particular, continue to be a strength of the French economy, with a surplus of €4,5 billion, demonstrating the growing role of tourism, financial services, and consulting activities in balancing the country's external accounts.