France's balance of payments - 2025-02
Published on the 8th of April 2025
In February 2025, the current account deficit (seasonally and working-day adjusted data) reached EUR 1.9 billion (after a deficit of 1.3 billion in January). The deficit on trade in goods widened to 6.4 billion (after 5.8 billion in January), while the surplus on trade in services remained steady (4.1 billion in February, after 4 billion in January). In cumulative figures over 12 months, the current account balance showed a surplus of EUR 6 billion, after a deficit of EUR 15.8 billion a year earlier.
In February 2025, the financial account (cumulative data over 12 months) showed net capital inflows of EUR 17.4 billion (after EUR 6.3 billion a year earlier). Direct investment showed net inflows of 4.1 billion (compared with net outflows of 30.2 billion a year earlier). Portfolio investment recorded net inflows of 3.1 billion euros (after 56.6 billion in February 2024). Cumulative over 12 months, other investments showed net outflows of 22.5 billion in February 2025 (after 24.3 billion in February 2024).
In February 2025, the financial account (cumulative data over 12 months) showed net capital inflows of EUR 17.4 billion (after EUR 6.3 billion a year earlier). Direct investment showed net inflows of 4.1 billion (compared with net outflows of 30.2 billion a year earlier). Portfolio investment recorded net inflows of 3.1 billion euros (after 56.6 billion in February 2024). Cumulative over 12 months, other investments showed net outflows of 22.5 billion in February 2025 (after 24.3 billion in February 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) | Feb- 2024 | Feb- 2025 | Jan- 2025 | Feb- 2025 |
| Current account | -15.8 | 6.0 | -1.3 | -1.9 |
| Goods | -67.0 | -61.8 | -5.8 | -6.4 |
| Energy | -61.0 | -51.6 | -3.6 | -3.8 |
| Goods excl. Energy | -6.0 | -10.3 | -2.2 | -2.6 |
| Services | 38.6 | 55.5 | 4.0 | 4.1 |
| Travel | 14.3 | 16.2 | 1.3 | 1.1 |
| Transport services | 0.7 | 4.9 | 0.5 | 0.2 |
|
Professional and management consulting services, Research and development and Technical services , trade-related and other business services |
7.2 | 8.3 | 0.2 | 0.7 |
| Other services | 16.5 | 26.1 | 2.0 | 2.1 |
| Income | 12.6 | 12.4 | 0.4 | 0.4 |
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) | Feb- 2024 | Feb- 2025 | Jan- 2025 | Feb- 2025 |
| Financial account | -6.3 | -17.4 | -6.4 | 7.9 |
| Direct investment | 30.2 | -4.1 | 1.4 | 1.9 |
| Abroad | 42.8 | 45.7 | 2.0 | 3.4 |
| In France | 12.6 | 49.9 | 0.7 | 1.6 |
| Portfolio investment | -56.6 | -3.1 | 73.5 | 23.0 |
| Assets | 229.0 | 226.5 | 84.1 | 25.7 |
| Liabilities | 285.5 | 229.6 | 10.6 | 2.6 |
| Financial derivatives | -8.6 | -35.2 | -6.2 | -0.8 |
| Other investment | 24.3 | 22.5 | -77.5 | -16.0 |
| Reserve assets | 4.4 | 2.6 | 2.5 | -0.3 |
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).
Download the PDF version of the document
EN_Stat_Info_France_s_balance_of_payment_202502.pdf
Updated on the 7th of April 2025