France's trade gap widens to €6.9 billion amid Mideast turmoil

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Rising oil prices owing to the Iran war saw France’s trade deficit widen by 1.4 billion euros in March to 6.9 billion euros, authorities said Thursday.

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Imports hit 59.3 billion in March, an increase of 1.8 billion over the previous month.

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Customs authorities stated that was largely due to the “rise in energy prices linked to the crisis in the Middle East,” particularly natural hydrocarbons.

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They added the rise in import energy prices was close to 50 percent.

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A further factor was an increase in energy product shipments of refined petroleum products and electricity.

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“Excluding energy, exports are broadly stable,” the authorities added.

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France’s trade balance deteriorated with the European Union in dipping 700 million euros, mainly with Germany, and also with non-EU Europe to the tune of 800 million euros, which Paris put down largely to an increase in natural gas supplies from Kazakhstan.

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The trade balance, however, did improve with Asia and Africa.

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Over the 12-month period from April 2025 to March 2026, the French trade balance deteriorated by 1.4 billion to 62.3 billion.

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“This is the first deterioration in the 12-month cumulative balance since July 2025,” authorities stated.

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AFP

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