France Current Account Swings To Surplus
France’s current account balance posted a surplus in February largely due to the fall in the goods trade deficit amid rising surplus on services trade, the Bank of France reported Tuesday.
The current account posted a surplus of EUR 0.9 billion compared to a shortfall of EUR 0.5 billion in January.
The goods trade deficit narrowed to EUR 4.0 billion from EUR 4.6 billion a month ago. Moreover, the surplus on services trade increased to EUR 4.0 billion from EUR 3.1 billion.
Meanwhile, income fell to EUR 0.8 billion from EUR 1.0 billion in the previous month.
During twelve months to February, the current account deficit totaled EUR 11.8 billion, which was much smaller than a EUR 63.8 billion shortfall registered in the same period last year.
The financial account showed a surplus of EUR 0.1 billion compared to January’s EUR 0.6 billion surplus in January.
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