France's balance of payments - 2025-10
Published on the 5th of December 2025
statistics
In October 2025, the current account balance (seasonally and working-day adjusted data) posted a surplus of EUR 1.1 billion, after a deficit of EUR 1.6 billion in September. The deficit on trade in goods narrowed to EUR 2.6 billion, after EUR 5.3 billion in September, driven by a decrease in the energy bill to EUR -2.5 billion (compared with EUR - 4.0 billion in September) and a balanced goods account excluding energy. The surplus in services trade remained stable at EUR 4.5 billion in October. Over 12 months, the current account balance stood at EUR - 8.5 billion, compared with EUR - 0.5 billion a year earlier.
In October 2025, (cumulative data over 12 months) the financial account recorded net capital inflows of EUR 58.5 billion (compared with net inflows of EUR 7.4 billion in October 2024). Direct investment recorded net inflows of EUR 33.3 billion, compared with net outflows of EUR 15.2 billion a year earlier. Portfolio investment registered net outflows of EUR 77.0 billion, compared with net inflows of EUR 22.5 billion in October 2024. Finally, net inflows of other investments reached EUR 102.1 billion, after net outflows of EUR 18.7 billion in October 2024.
In October 2025, (cumulative data over 12 months) the financial account recorded net capital inflows of EUR 58.5 billion (compared with net inflows of EUR 7.4 billion in October 2024). Direct investment recorded net inflows of EUR 33.3 billion, compared with net outflows of EUR 15.2 billion a year earlier. Portfolio investment registered net outflows of EUR 77.0 billion, compared with net inflows of EUR 22.5 billion in October 2024. Finally, net inflows of other investments reached EUR 102.1 billion, after net outflows of EUR 18.7 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-24 | Oct-25 | Sep-25 | Oct-25 |
| Current account | -0.5 | -8.5 | -1.6 | 1.1 |
| Goods | -61.6 | -60.7 | -5.3 | -2.6 |
| Energy | -54.6 | -42.9 | -4.0 | -2.5 |
| Goods excl. Energy | -7.1 | -17.8 | -1.2 | 0.0 |
| Services | 54.4 | 58.7 | 4.5 | 4.5 |
| Travel | 15.6 | 19.3 | 1.6 | 1.4 |
| Transport services | 3.4 | 3.7 | 0.4 | 0.0 |
| Professional and management consulting services, Research and development and Technical services , trade-related and other business services |
9.6 | 6.6 | 0.8 | 0.8 |
| Other services | 25.9 | 29.1 | 1.8 | 2.2 |
| Income | 6.7 | -6.6 | -0.8 | -0.9 |
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-24 | Oct-25 | Sep-25 | Oct-25 |
| Financial account | -7.4 | -58.5 | -1.5 | 4.2 |
| Direct investment | 15.2 | -33.3 | -0.5 | -1.7 |
| Abroad | 34.1 | 63.0 | 1.9 | 1.8 |
| In France | 18.9 | 96.3 | 2.4 | 3.5 |
| Portfolio investment | -22.5 | 77.0 | -13.6 | 66.9 |
| Assets | 246.1 | 298.3 | 5.7 | 49.4 |
| Liabilities | 268.6 | 221.4 | 19.3 | -17.6 |
| Financial derivatives | -20.5 | -4.8 | -0.5 | 3.3 |
| Other investment | 18.7 | -102.1 | 13.0 | -64.7 |
| Reserve assets | 1.7 | 4.7 | 0.0 | 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_202510.pdf
Updated on the 4th of December 2025