France's balance of payments 2024Apr
Published on the 7th of June 2024
In April, the current account deficit (seasonally and working-day adjusted data) reached 1.8 billion euros (compared with a surplus of 0.6 billion in March). The deficit on trade in goods widened to -5.6 billion euros (after -2.4 billion in March), while the surplus on trade in services increased slightly (4.0 billion in April after 3.3 billion in March). In 12 months to April 2024, the current account deficit fell to 9.7 billion euros from 59.9 billion euros a year earlier, due to the joint reduction in the energy bill and the balance on goods excluding energy.
The financial account (cumulative data over 12 months) showed net capital inflows of 27.6 billion euros in April 2024, after 80.9 billion euros a year earlier. Portfolio investment recorded net inflows of 67.6 billion euros over 12 months, compared with 198.6 billion euros in April 2023. Cumulative net outflows of direct investment over 12 months rose to 45.1 billion in April 2024.
The financial account (cumulative data over 12 months) showed net capital inflows of 27.6 billion euros in April 2024, after 80.9 billion euros a year earlier. Portfolio investment recorded net inflows of 67.6 billion euros over 12 months, compared with 198.6 billion euros in April 2023. Cumulative net outflows of direct investment over 12 months rose to 45.1 billion in April 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) | Apr- 2023 | Apr- 2024 | Mar- 2024 | Apr- 2024 |
| Current account | -59.9 | -9.7 | 0.6 | -1.8 |
| Goods | -130.4 | -65.8 | -2.4 | -5.6 |
| Energy | -105.3 | -59.5 | -4.4 | -5.9 |
| Goods excl. Energy | -25.1 | -6.3 | 2.0 | 0.3 |
| Services | 44.1 | 41.0 | 3.3 | 4.0 |
| Travel | 17.0 | 18.9 | 1.7 | 1.6 |
| Transport services | 13.2 | -0.9 | 0.1 | 0.0 |
Professional and management consulting services, Research and development and Technical services , trade-related and other business services |
4.5 | 6.5 | 0.4 | 0.8 |
| Other services | 9.5 | 16.5 | 1.1 | 1.6 |
| Income | 26.3 | 15.1 | -0.2 | -0.2 |
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) | Apr- 2023 | Apr- 2024 | Mar- 2024 | Apr- 2024 |
| Financial account (not adjusted) | -80.9 | -27.6 | 0.3 | -7.4 |
| Direct investment | -0.5 | 45.1 | 2.4 | 2.9 |
| Abroad | 71.6 | 45.4 | 2.5 | 1.9 |
| In France | 72.1 | 0.3 | 0.0 | -1.0 |
| Portfolio investment | -198.6 | -67.6 | -37.9 | 12.8 |
| Assets | 64.7 | 229.7 | 12.9 | 42.0 |
| Liabilities | 263.3 | 297.4 | 50.8 | 29.3 |
| Financial derivatives | -34.3 | -11.2 | -2.0 | -2.3 |
| Loans and deposits ) | 171.8 | 3.6 | 37.7 | -20.3 |
| Reserve assets | -19.2 | 2.5 | 0.0 | -0.6 |
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:
Download the PDF version of the document
BDP_FRA_2287_en__BDP_Stat_Info_avril_2024_EN.pdf
Updated on the 6th of June 2024