France's balance of payments - 2025-09
Published on the 7th of November 2025
statistics
In September 2025, the current account deficit (seasonally and working-day adjusted data) reached EUR 1.6 billion, after a surplus of 1.4 billion in August. The deficit on trade in goods increased to 5.5 billion, after 3.7 billion in August. Meanwhile, the surplus on trade in services decreased to EUR 4.7 billion, after EUR 6.0 billion in August. On a 12-month cumulative basis, the current account balance stood at EUR - 10.5 billion, against EUR - 2.0 billion a year earlier.
In September 2025, the financial account (cumulative data over 12 months) recorded net capital inflows of EUR 76.2 billion, after net outflows of EUR 7.6 billion in September 2024. Direct investments showed net inflows of EUR 34 billion, compared with net outflows of EUR 22.5 billion a year earlier. Portfolio investments registered net outflows of EUR 60.4 billion, against net inflows of 21.5 billion in September 2024. Finally, net inflows from other investment reached EUR 96.2 billion, compared to net outflows of EUR 16.8 billion in September 2024.
In September 2025, the financial account (cumulative data over 12 months) recorded net capital inflows of EUR 76.2 billion, after net outflows of EUR 7.6 billion in September 2024. Direct investments showed net inflows of EUR 34 billion, compared with net outflows of EUR 22.5 billion a year earlier. Portfolio investments registered net outflows of EUR 60.4 billion, against net inflows of 21.5 billion in September 2024. Finally, net inflows from other investment reached EUR 96.2 billion, compared to net outflows of EUR 16.8 billion in September 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) | Sep-24 | Sep-25 | Aug-25 | Sep-25 |
| Current account | -2.0 | -10.5 | 1.4 | -1.6 |
| Goods | -62.5 | -64.4 | -3.7 | -5.5 |
| Energy | -55.5 | -44.9 | -3.2 | -4.0 |
| Goods excl. Energy | -7.0 | -19.5 | -0.5 | -1.5 |
| Services | 53.3 | 59.2 | 6.0 | 4.7 |
| Travel | 15.7 | 19.0 | 1.8 | 1.7 |
| Transport services | 2.8 | 4.2 | -0.1 | 0.4 |
|
Professional and management consulting services, Research and development and Technical services , trade-related and other business services |
8.9 | 6.8 | 1.2 | 0.9 |
| Other services | 25.9 | 29.2 | 3.1 | 1.8 |
| Income | 7.2 | -5.3 | -0.8 | -0.8 |
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) | Sep-24 | Sep-25 | Aug-25 | Sep-25 |
| Financial account | 7.6 | -76.2 | -18.4 | -1.5 |
| Direct investment | 22.5 | -34.0 | -0.8 | -0.5 |
| Abroad | 31.4 | 66.5 | 1.5 | 1.9 |
| In France | 8.9 | 100.5 | 2.3 | 2.4 |
| Portfolio investment | -21.5 | 60.4 | -38.6 | -13.6 |
| Assets | 248.8 | 289.1 | -16.3 | 5.7 |
| Liabilities | 270.3 | 228.8 | 22.3 | 19.3 |
| Financial derivatives | -13.4 | -10.9 | 0.7 | -0.5 |
| Other investment | 16.8 | -96.2 | 20.2 | 13.0 |
| Reserve assets | 3.3 | 4.6 | 0.0 | 0.0 |
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_202509.pdf
Updated on the 6th of November 2025