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Economy in Brief

French Exports And Imports Drop
by Robert Brusca April 14, 2009

Export and import growth trends in France continue to wither at very rapid rates. In February exports rose as imports fell by 0.2%. Still both exports and imports are dropping at better than a 33% annual rate over three months. The negative rates of growth are actually accelerating even despite the smaller decline in imports this month and the rise in exports.

France’s economy continues be under a great deal of pressure. Declining domestic activity lies behind the drop in French imports as surely as weak foreign growth lies behind the poor performance of French exports. French industrial output declined by 0.5% in February and is off by 15.5% Yr/Yr. meanwhile for all of EMU IP fell by 3.2% in January and was off by 17.5 Yr/Yr. French exports are facing hostile international conditions both within the Zone and outside of it. Despite the bounce in exports in February, it is too soon to be expecting anything good out of export growth in the immediate future.

French Trade trends for goods
  m/m% % Saar
  Feb-09 Jan-09 3M 6M 12M
Balance* -€€ 4,107.00 -€€ 3,714.00 -€€ 3,604.67 -€€ 4,657.00 -€€ 4,619.42
  All Exp 1.0% -11.9% -34.3% -33.5% -23.0%
  Motor Vehicles 11.5% -29.4% -31.8% -39.8% -27.3%
  All IMP -0.2% -2.2% -33.1% -30.9% -18.1%
  Motor Vehicles 7.5% -1.5% -18.0% -25.0% -16.9%
*Eur mlns; mo or period average
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