France's balance of payments - 2024-10
Published on the 6th of December 2024
In October, the current account deficit (seasonally and working-day adjusted data) reached EUR 2.6 billion (after a deficit of EUR 2.4 billion in September). The deficit on trade in goods registered to EUR 6.3 billion (after 7 billion in September), and the surplus on trade in services fell (3.8 billion in October after 4.6 billion in September). On a cumulative basis over 12 months, the current account deficit fell to EUR 12.6 billion in October 2024 from a deficit of 37.9 billion a year earlier, due to a lower energy bill.
The financial account (cumulative data over 12 months) showed net capital inflows of EUR 66.2 billion in October 2024 (compared with €51.4 billion a year earlier). Portfolio investment recorded net inflows of EUR 77.5 billion over 12 months, compared with 156.7 billion in October 2023. Cumulative net outflows of direct investment over 12 months reached to EUR 10.5 billion in October 2024.
The financial account (cumulative data over 12 months) showed net capital inflows of EUR 66.2 billion in October 2024 (compared with €51.4 billion a year earlier). Portfolio investment recorded net inflows of EUR 77.5 billion over 12 months, compared with 156.7 billion in October 2023. Cumulative net outflows of direct investment over 12 months reached to EUR 10.5 billion in October 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) | Oct-23 | Oct-24 | Sept-24 | Oct-24 |
| Current account | -37.9 | -12.6 | -2.4 | -2.6 |
| Goods | -92.3 | -62.7 | -7.0 | -6.3 |
| Energy | -75.8 | -54.8 | -4.4 | -4.2 |
| Goods excl. Energy | -16.6 | -7.9 | -2.6 | -2.2 |
| Services | 37.9 | 47.4 | 4.6 | 3.8 |
| Travel | 13.6 | 15.6 | 1.1 | 0.9 |
| Transport services | 5.4 | 2.5 | 0.6 | 0.6 |
|
Professional and management consulting services, Research and development and Technical services , trade-related and other business services |
5.9 | 10.9 | 1.3 | 1.3 |
| Other services | 13.0 | 18.3 | 1.6 | 1.0 |
| Income | 16.5 | 2.7 | 0.0 | -0.1 |
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) | Oct-23 | Oct-24 | Sept-24 | Oct-24 |
| Financial account (not adjusted) | -51.4 | -66.2 | -4.1 | -19.5 |
| Direct investment | 24.3 | 10.5 | 1.0 | 5.7 |
| Abroad | 45.5 | 27.3 | 2.0 | 5.0 |
| In France | 21.2 | 16.9 | 1.0 | -0.6 |
| Portfolio investment | -156.2 | -77.5 | -16.0 | 33.2 |
| Assets | 150.7 | 220.8 | 2.3 | 41.0 |
| Liabilities | 306.9 | 298.3 | 18.3 | 7.8 |
| Financial derivatives | -25.0 | -20.5 | -2.3 | -2.8 |
| Loans and deposits ) | 125.2 | 19.6 | 12.7 | -55.7 |
| Reserve assets | -19.7 | 1.7 | 0.5 | 0.2 |
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: foreign direct investments (English and French), international tourism in France (English and French), business services (English and French), net foreign assets (English and French).
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.
Download the PDF version of the document
EN_Stat_Info_France_s_balance_of_payment_202410.pdf
Updated on the 5th of December 2024