Source:Customs

10 JANUARY 2012

The trade gap moved down to € -4.4 billion in November month-on-month, the second consecutive decline, due to exports +3.3% increase to € 37.4 billion while imports stayed nearly unchanged to € 41.8 billion thanks to the oil bill -6.9% decline.

Exports of transport equipment +14.9% increase positively contributed to alleviating the deficit thanks to a record high 30 Airbus aircraft deliveries for a total € 2.3 billion, the sale of a satellite and an oil platform to Africa and the Middle East for € 173 million. The component's trade balance thus nearly grew twofold to € 1.3 billion on the same period. Four other components remained in the positive trade balance list : exports of agricultural products-fisheries and wood fell -3.8% and imports -4.5% taking its balance to € 499 million, a two percentage drop. Exports of food and agriculture industry products, down 1.6% moved to € 595 million (from €  658 million) while imports stayed nearly unchanged or +0.2%. Chemical products-perfumes and cosmetics recorded sustained momentum, as exports rose +2.9% to € 4.4 billion although imports rose +5.5% to € 3.6 billion. Sales of pharmaceutical products surged +5.2% to € 2.2 billion and imports +1.3% to € 1.98 billion.   

Sectors in negative territory nevertheless recorded stronger exports allowing for their respective trade gaps to improve although for the most part unevenly:  exports of natural hydro products-extractive industries-electricity and waste jumped +16.1% and refined oil products and coke +6.1%, taking their respective deficits to € -4.2 billion (from € -4.6 billion) and to € -1.03 billion (from € -1.2 billion). Electric and mechanical equipment  performed in a similar pattern with exports up 2.1% while imports inched up +0.3%. Other industrial products (including consumer goods) trade gap decreased to €-1.6 billion  (from €-1.8 billion) as exports increased +1.9% while imports stayed stable.
 
Per region, exports to the Euro area, the country's lead market, rose +1.2% and imports grew +6.5% thanks to each the aerospace and automobile industries. Exports to the European Union were more subdued and climbed +0.4% while imports surged +5.5% including +24.9% from Ireland. In November, the strongest export increases were recorded with Belgium and the UK.
Excluding the Union, exports to Europe climbed +15.4% and imports fell -6.5%.
Asia, the third country's third export market, recorded +17.5% exports rebound and imports +3.7% taking the trade gap to €-1.5 billion (from €-2.06 billion). Exports to the Americas increased +7.1% while imports fell -9.2%. However,  exports to the USA stayed on the rise and climbed +3.1%. Imports fell -4.6%. Exports to Russia leaped +26.3% thanks to aerospace equipment while inversely imports dropped -22% due to lesser demand for energy. Exports to Africa leaped +17.7% while imports decreased by 6.1%. To the Near and Middle East, imports fell -8.9% and exports bounced +7.4%.