The trade deficit deteriorated in 2016 to 48.1 billion euros – The World

This increase in the trade deficit is well above the government’s target, set at 45.3 billion, according to the directorate general of customs.

The trade deficit in French has deteriorated more than expected in 2016 to reach $ 48.1 billion euros, well above the government’s target, set at 45.3 billion, announced on Tuesday the general directorate of customs. the ” These are not good figures. This is not a good year “, has acknowledged the secretary of State responsible for foreign trade, Matthias Fekl, questioned by AFP.

He attributed the increase in the trade deficit to ” delays in the suppliers of Airbus, which has shifted deliveries “, that is, a worsening of the balance of the aeronautics of 4.7 billion euros ” which has greatly contributed to the overall degradation “. Mr. Fekl also highlighted a decline of € 2.5 billion of agricultural exports ” due to a bad season in cereals “.

New decline in exports of energy products

In the draft of finance law (PLF) for 2017, the government set a target deficit of 45.3 billion euros for this year, after having initially banked on an improvement to 40.3 billion. This worsening of the deficit is due to ” an increase in the deficit in manufacturing is superior to the relief in the energy bill “, highlight the customs, in a press release.

The French exports declined 0.6 % in 2016, after experiencing a jump of 4.4% in 2015. Exports of energy products were displayed ” a new fallback “. In contrast, motor vehicle sales are on the rise for the third consecutive year, according to the customs.

Mr. Fekl has, however, emphasized that the automotive sector had been ” a degradation related to the increase in imports “. the ” We have high imports and offshoring of production, whether in eastern Europe or in the countries of the Maghreb, which is a reality “, he explained.

imports ” stagnated (+ 0.1 percent) as a result of the sharp contraction in the first half of energy supplies “, specify the customs. For 2017, the government has projected a trade deficit of 48.9 billion in its proposed budget.