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

In 2016, the current account once again showed a deficit. It reached EUR 19 billion, i.e. 0.9% of GDP, up markedly on 2015 (EUR 9.6 billion) despite a reduction in the energy bill of about EUR 8 billion.

The services balance recorded a sharp decline in 2016, to become zero as a result of the contraction travel receipts and accentuation of the deficit on services.

The income surplus stands at EUR 7.8 billion, after EUR 6.5 billion in 2015. It results in particular from the benefits received by companies from their operations abroad.

Inward FDI reached EUR 26 billion in 2016. This is less than in 2015 (EUR 42 billion), but in line with the average flows observed over the past ten years. The current account deficit in 2016 is mainly financed by foreign investments to debt issues and to a lesser extent by international banks financing.

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 EUR 351 billion, i.e. 15.8% of GDP.

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: 02/01/2018 11:50