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France's balance of payments and international investment position : Annual Data

In 2017, the current account balance remained negative: -13.1 billion euros (0.6% of GDP). The energy bill deepened by more than 7 billion in 2017, partly explaining the worsening of the goods deficit (-48.2 billion, down by -13.6 billion).

The balance of services surplus increased by 8.7 billion, reaching 26.5 billion in 2017.

The deficit of goods and services, which amounts to -21.7 billion, was exclusively due to trade with other euro area countries, while the balance with countries outside the euro area was positive.

The income and transfers surplus reached 8.5 billion, while it was close to zero in 2016.

Foreign Direct Investments in France reached 44 billion in 2017 (net inflows) after 32 billion in 2016. French direct investments abroad were higher (52 billion) in spite of a slight decline between 2016 and 2017.

France’s international investment position, which represents the nation’s net assets or liabilities vis-à-vis the rest of the world, showed a deficit of -461 billion of euros at end-2017, i.e. 20.1% of GDP. This remains under the limit of 35% set by the European commission.

All the publications of annual reports of the Balance of payments and international investment position are available on the Banque de France Website at :

Updated on: 12/03/2018 15:19