In the same month, the amount of imports reaches “the historical sum” of 52.5 billion euros. A progression that is explained “mostly by rising prices of raw materials […] and industrial products”, according to customs.
Le Monde with AFP
The French commercial balance has never fallen as low in one month. In November, the commercial deficit of France was still dug to 9 billion euros, announced the customs Friday, January 7th.
Imports have reached a record level and have been destroyed by rising commodity prices, including energy. The deficit, which reached 8.1 billion euros in October, was still degraded and settled in November at a level twice higher than that of January 2021. Of twelve months, the deficit cumulative amounts to 77.6 billion euros, “or 2.6 billion more than the 2011 record annual deficit”, note the customs.
Flying prices of raw materials
In the same month, the amount of imports reaches “the historical sum” of 52.5 billion euros. If they have increased by 2.6% by volume since the beginning of the year, they jumped 20.1% in value. A progression that is explained “mostly by rising commodity prices, including energy, and industrial products,” according to customs.
The end of the year has, in addition, experienced an “unusual peak of electricity imports”, as well as a “dynamic growth of gas and oil supplies”, is it noted. France, traditionally exporting electricity, was net importer in November, national production is not sufficient to meet demand, explain customs, in a context of flexible electricity prices.
Exports are also progressing, but at a lower pace of 400 million euros per month since the beginning of the year, to settle in November 43.5 billion euros, almost At the peak level of April 2019. In this case too, the increase is greater in value than in volume.