France's balance of payments - 2025-04
Published on the 6th of June 2025
In April 2025, the current account deficit (seasonally and working-day adjusted data) reached EUR 4.1 billion (after a surplus of 1 billion in March). The deficit on trade in goods rose to 8.9 billion (after 4.3 billion in March), while the surplus on trade in services decreased (4.7 billion in April, after 5.3 billion in March). In cumulative figures over 12 months, the current account balance showed a surplus of EUR 4 billion, after a deficit of EUR 13.2 billion a year earlier.
In April 2025, the financial account (cumulative data over 12 months) showed net capital outflows of EUR 6.1 billion (after net inflows of EUR 40.5 billion a year earlier). Direct investment presented net inflows of EUR 2.9 billion (compared with net outflows of EUR 28.3 billion a year earlier). Portfolio investment recorded net outflows of EUR 77.2 billion (after net inflows of 47.9 billion in April 2024), while other investment, in cumulative figures over 12 months, showed net inflows of 37.9 billion in April.
In April 2025, the financial account (cumulative data over 12 months) showed net capital outflows of EUR 6.1 billion (after net inflows of EUR 40.5 billion a year earlier). Direct investment presented net inflows of EUR 2.9 billion (compared with net outflows of EUR 28.3 billion a year earlier). Portfolio investment recorded net outflows of EUR 77.2 billion (after net inflows of 47.9 billion in April 2024), while other investment, in cumulative figures over 12 months, showed net inflows of 37.9 billion in April.
Current account balance and its components
(billion euros, seasonally and working-day adjusted data)
![]()
(billion euros, seasonally and working-day adjusted data)
| Cumulated figures (over 12 months) | ||||
| (EUR billions) | Apr- 2024 | Apr- 2025 | Mar- 2025 | Apr- 2025 |
| Current account | -13.2 | 4.0 | 1.0 | -4.1 |
| Goods | -65.1 | -63.4 | -4.3 | -8.9 |
| Energy | -59.6 | -49.8 | -4.9 | -4.0 |
| Goods excl. Energy | -5.5 | -13.6 | 0.5 | -4.9 |
| Services | 39.1 | 57.9 | 5.3 | 4.7 |
| Travel | 14.6 | 16.7 | 1.5 | 1.7 |
| Transport services | -0.3 | 5.5 | 0.3 | 0.3 |
|
Professional and management consulting services, Research and development and Technical services , trade-related and other business services |
7.2 | 8.1 | 0.7 | 0.4 |
| Other services | 17.6 | 27.6 | 2.7 | 2.3 |
| Income | 12.8 | 9.5 | 0.0 | 0.0 |
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- 2024 | Apr- 2025 | Mar- 2025 | Apr- 2025 |
| Financial account | -40.5 | 6.1 | -14.5 | 6.8 |
| Direct investment | 28.3 | -2.9 | -0.3 | -1.1 |
| Abroad | 42.3 | 46.4 | 1.8 | 0.9 |
| In France | 14.1 | 49.3 | 2.1 | 2.0 |
| Portfolio investment | -47.9 | 77.2 | -1.5 | 41.7 |
| Assets | 252.2 | 234.1 | 18.3 | 45.6 |
| Liabilities | 300.1 | 156.9 | 19.8 | 3.9 |
| Financial derivatives | -11.3 | -34.9 | -3.1 | -0.9 |
| Other investment | -12.1 | -37.9 | -10.1 | -33.9 |
| Reserve assets | 2.5 | 4.6 | 0.5 | 0.9 |
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_202504.pdf
Updated on the 5th of June 2025