Due to the deterioration of the energy balance, the deficit reached over twelve rolling months nearly 114 billion.

From Charybdis to Scylla. In May, the trade deficit for French goods reached 13.1 billion euros, erasing the previous record for April, which itself exceeded that of March. Over twelve rolling months in total, the deficit in sales compared to purchases abroad even reached the colossal figure of 113.9 billion euros, an absolute record. For the record, in 2021, France’s trade deficit peaked at 84.7 billion euros (i.e. 3.4% of GDP), after 64.7 billion the previous year.

The deterioration of the energy balance is once again the main cause of this situation“, specify without surprise the customs. The outbreak of the war in Ukraine, which caused a surge in the price of hydrocarbons, further destabilizes the hexagonal trade balance, already undermined by the deindustrialization of the country, its eroded competitiveness and its excessive taxation…. The prices of a barrel of oil have indeed been propelled beyond 100 dollars. And even if they…

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