Global| Apr 14 2009French Exports And Imports Drop
Summary
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 [...]
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 |
| Exports | |||||
| All Exp | 1.0% | -11.9% | -34.3% | -33.5% | -23.0% |
| Motor Vehicles | 11.5% | -29.4% | -31.8% | -39.8% | -27.3% |
| IMPORTS | |||||
| 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 | |||||
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
