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Global General

France's trade deficit declines over 10b euros in 2009

(Xinhua)
Updated: 2010-02-06 02:52

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France's trade deficit in 2009 posted at 43 billion euros ($59 billion), over 10 billion euros less than last year, the customs office announced Friday.

Compared to France's trade deficit of 55.1 billion euros in 2008, the new data presented some 22 percent decline, but still a heavy imbalance and the sixth consecutive yearly trade deficit, according to the customs data.

The State Minister for Foreign Trade Anne-Marie Idrac called the figure was an "encouragement" in an interview with French newspaper Le Figaro, saying France sustained its rank on exportation during economic crisis.

She also said in a statement that the worldwide crisis had brought French export down by 17 percent in 2009 and imports decreased by 18 percent, but thanks to lower oil price, France's energy imports reduced by 35 percent in value, stood at 54 billion euros.

Pharmaceuticals and aviation exports were two sectors that showed better performance with 8-percent increase and a moderate 3 percent fall, respectively, at hard times, according to the customs figures.

France's exportation remained somehow stable for the last month of 2009, with exports lightly dropped around 10 million euros to 28.96 billion euros while imports declined by over 700 million euros to 33.23 billion euros, the customs data showed.

According to the latest forecast, France was expected for 42.2-billion-euro trade deficit in 2009 and for 2010, the number could reach 45 billion euros.