France's balance of payments - 2024-06
Published on the 7th of August 2024
In June, the current account deficit (seasonally and working-day adjusted data) reached 2.6 billion euros (after 2.5 billion in May). The deficit on trade in goods fell slightly to -5.0 billion (after -6.0 billion euros in May), while the surplus on trade in services fell (3.8 billion in June after 5.0 billion in May). In cumulative figures over 12 months, the current account deficit fell to 19.4 billion euros in June 2024, after a deficit of 43.0 billion euros a year earlier, due to the reduction in the energy bill and a less negative balance of goods excluding energy.
The financial account (cumulative data over 12 months) showed net capital inflows of 30.8 billion euros in June 2024, after 60.2 billion euros a year earlier. Portfolio investment recorded net inflows of 54.8 billion euros over 12 months, compared with 203.3 billion euros in June 2023. Cumulative net outflows of direct investment over 12 months rose to 25.3 billion in June 2024.
The financial account (cumulative data over 12 months) showed net capital inflows of 30.8 billion euros in June 2024, after 60.2 billion euros a year earlier. Portfolio investment recorded net inflows of 54.8 billion euros over 12 months, compared with 203.3 billion euros in June 2023. Cumulative net outflows of direct investment over 12 months rose to 25.3 billion in June 2024.
Current account balance and its components
(billion euros, seasonally and working-day adjusted data)
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(billion euros, seasonally and working-day adjusted data)
| Cumulated figures (over 12 months) | ||||
| (EUR billions) | June-23 | June-24 | May-24 | June-24 |
| Current account | -43.0 | -19.4 | -2.5 | -2.6 |
| Goods | -114.8 | -62.6 | -6.0 | -5.0 |
| Energy | -96.8 | -60.3 | -5.2 | -5.4 |
| Goods excl. Energy | -18.0 | -2.3 | -0.8 | 0.5 |
| Services | 48.2 | 43.0 | 5.0 | 3.8 |
| Travel | 13.0 | 16.7 | 2.1 | 2.0 |
| Transport services | 16.1 | -0.7 | 0.1 | 0.3 |
|
Professional and management consulting services, Research and development and Technical services , trade-related and other business services |
6.0 | 9.1 | 0.9 | 0.7 |
| Other services | 13.1 | 17.9 | 1.9 | 0.8 |
| Income | 23.7 | 0.3 | -1.4 | -1.5 |
Note : Non-cumulated figures
Source and production : BANQUE DE FRANCE - DGSEI
Source and production : BANQUE DE FRANCE - DGSEI
Balance on financial transactions and its components (billions of euros, not adjusted data)![]()
| Cumulated figures (over 12 months) | ||||
| (EUR billions) | June-23 | June-24 | May-24 | June-24 |
| Financial account (not adjusted) | -60.2 | -30.8 | -22.5 | 23.1 |
| Direct investment | -25.9 | 25.3 | 2.2 | 3.9 |
| Abroad | 40.7 | 29.2 | 2.1 | 3.5 |
| In France | 66.6 | 3.9 | -0.1 | -0.4 |
| Portfolio investment | -203.3 | -54.8 | -8.7 | -15.8 |
| Assets | 101.8 | 233.9 | 2.4 | 9.8 |
| Liabilities | 305.1 | 288.6 | 11.0 | 25.6 |
| Financial derivatives | -34.6 | -14.2 | -6.8 | -0.2 |
| Loans and deposits ) | 224.0 | 10.3 | -9.0 | 35.3 |
| Reserve assets | -20.4 | 2.6 | -0.2 | -0.1 |
Note : Cumulated figures
Source and production : BANQUE DE FRANCE - DGSEI
Source and production : BANQUE DE FRANCE - DGSEI
Methodological notes
On the Banque de France website a detailed methodological note on balance of payments and international investment position can be found. Highlights on specific topics are also available:
The balance of payments data was subject to reassessment over the entire period as part of the change of base year in coordination with Insee. Details of the revisions can be found in the France's annual report of balance of payments and international investment position 2023.
Download the PDF version of the document
EN_BDP_Stat_Info_juin_2024_EN.pdf
Updated on the 11th of September 2024