France's balance of payments - 2024-08

Published on the 8th of October 2024



In August, the current account deficit (seasonally and working-day adjusted data) reached EUR 0.6 billion (after a balanced current account in July). The deficit on trade in goods widened to EUR -6.0 billion (after -4.0 billion in July), while the surplus on trade in services increased (5.3 billion in August after 4.2 billion in July). On a cumulative basis over 12 months, the current account deficit fell to EUR 10.8 billion in August 2024 from a deficit of 38.8 billion a year earlier, due to the reduction in the energy bill and the balance of goods excluding energy.

The financial account (cumulative data over 12 months) showed net capital inflows of EUR 40.6 billion in August 2024, after 61.8 billion a year earlier. Portfolio investment recorded net inflows of EUR 93.6 billion over 12 months, compared with 197.9 billion in August 2023. Cumulative net outflows of direct investment over 12 months rose to EUR 13.1 billion in August 2024.


Current account balance and its components
(billion euros, seasonally and working-day adjusted data)
Cumulated figures (over 12 months)
(EUR billions) Aug-23 Aug-24 July-24 Aug-24
Current account -38.8 -10.8 0.0 -0.6
Goods -102.0 -62.0 -4.0 -6.0
Energy -87.1 -56.5 -3.9 -4.2
Goods excl. Energy -14.9 -5.5 -0.1 -1.8
Services 42.9 45.1 4.2 5.3
Travel 13.5 15.7 1.2 1.4
Transport services 10.6 1.0 0.6 1.0

Professional and management consulting services,
Research and development and Technical services ,
trade-related and other business services
6.2 9.5 0.5 0.7
Other services 12.7 18.8 1.9 2.2
Income 20.2 6.1 -0.1 0.1
Note : Non-cumulated figures
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) Aug-23 Aug-24 July-24 Aug-24
Financial account (not adjusted) -61.8 -40.6 -13.6 9.3
Direct investment -7.0 13.1 1.2 3.6
Abroad 38.1 28.8 2.2 3.8
In France 45.1 15.7 1.0 0.2
Portfolio investment -197.9 -93.6 13.3 4.4
Assets 139.2 194.0 21.9 10.0
Liabilities 337.1 287.6 8.6 5.6
Financial derivatives -31.7 -14.8 -2.7 -7.1
Loans and deposits ) 194.4 53.0 -25.6 8.4
Reserve assets -19.7 1.7 0.2 -0.1
Note : Cumulated figures
Source and production : BANQUE DE FRANCE - DGSEI
Methodological notes
The balance of payments data was subject to reassessment over the entire period in the publication of monthly data for May 2024, 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.
More information on methodology, time series, calendar
All statistical time series publlshed by the Banque de France can be accessed on
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Balance of payments
STAT INFO - August 2024
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Stat Info Balance of payments
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Updated on the 14th of October 2024