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French Current Account Gap Widens In January

3/13/2012 4:12 AM ET

French current account deficit increased in January, mainly due to a deterioration in the balance of services trade, the central bank said Tuesday.

The current account deficit widened to EUR 4.2 billion from EUR 2.8 billion in December. The surplus on services trade fell to EUR 0.6 billion from EUR 1.6 billion in the preceding month.

The development was to a lesser extent affected by a fall in income account surplus, which stood at EUR 3 billion in January compared to EUR 3.3 billion in December.

The merchandise trade deficit remained high at EUR 5.6 billion, largely unchanged from EUR 5.5 billion in December.

Direct investments resulted in a net outflow of EUR 3.2 billion during the month, higher than EUR 2.2 billion in the previous month. French investments abroad resulted in an outflow of EUR 4.1 billion, less than EUR 5 billion in the previous month.

Foreign direct investments in France represented a net inflow of EUR 0.9 billion, weaker than EUR 2.8 billion investment inflows during December.

by RTT Staff Writer

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