France's trade gap at all-time high in July

ANKARA

France's trade deficit increased to an all-time high of €14.5 billion ($14.5 billion) in July, wider than the market forecast of a €13.08 billion ($13.07 billion) gap, according to official data released on Thursday.

July figure increased from an upwardly revised €13.08 billion shortfall in June, the customs ministry data showed.

French exports decreased 2.3% month-on-month to €48.7 billion ($48.7 billion) and driven by the rise in the energy bill, imports increased 0.5% to a new record high of €63.3 billion ($63.2 billion).

Meanwhile, France's current account deficit also widened from June's revised figure of €1.5 billion ($1.5 billion) to €5.3 billion ($5.3 billion) in July, the largest gap in over two years, according to Banque de France.

The goods deficit rose to €12.8 billion ($12.8 billion) while the services surplus declined to €5.6 billion ($5.6 billion) in July, the bank said.