French current account deficit broadens in July on weak foreign trade

French current account deficit broadened during the month of July, following weakness in foreign trade. The current account deficit increased to EUR 2.6 billion from EUR 0.8 billion in June, data released by the Bank of France showed Wednesday.

The deficit on goods trade rose to EUR 2.9 billion in July from EUR 1.9 billion in the prior month and the surplus on services declined to EUR 0.1 billion from EUR 0.9 billion.

At the same time, primary income rose to EUR 3.6 billion from EUR 3.5 billion and the negative balance of secondary income remained unchanged at EUR 3.3 billion.

Meanwhile, in the financial account, the shortfall narrowed sharply to EUR 3 billion from EUR 7.3 billion in the prior month.