In April, the deficit had already crossed the bar of 12.4 billion euros, the worst deficit ever recorded. It also reached an all-time cumulative record over twelve rolling months, at -113.9 billion euros.
Excluding energy, the external balance of goods is almost stable (0.1 billion), and trade in consumer goods and intermediate goods remains “very dynamic” in a context of rising prices of traded goods, detail Customs.
This deterioration is linked to the increase in imports at a “sustained” pace, up to 60.7 billion euros, against exports which increased only at the same pace as the previous month, to 47.6 billion euros.
This difference is driven by the rise in energy imports (0.5 billion euros), although less marked than that of the previous months (0.7 billion euros in April and 1.1 billion in March). This slowdown in energy supplies this month is explained by the drop in electricity imports.
Oil prices have soared in recent months in the wake of the gradual recovery of the global economy and then the invasion of Ukraine by Russia, propelling the price of a barrel above 100 dollars.
In France, the average price of petrol and diesel sold in service stations still exceeds 2 euros per litre.
As for the balance of payments, which includes trade in services, the current account deficit stood at 3.9 billion euros in May against 2.7 billion euros the previous month, detailed the Banque de France. Friday.
