France's balance of payments - 2026-02
Published on 8th of April 2026
In February 2026, the current account balance turned to negative again (seasonally and working-day adjusted data) at EUR 1.8 billion, following a surplus of EUR 2.3 billion in January. The goods trade deficit widened to EUR 5.1 billion, following EUR 2.1 billion in January. This trend affected both non-energy goods trade and the energy bill (EUR 2 billion and EUR 1.1 billion respectively). The surplus in trade in services fell to EUR 3.7 billion (after EUR 4.8 billion in January). Over the 12-months, the current account balance stood at EUR -5.5 billion, compared with EUR -3.3 billion a year earlier.
In February 2026 (cumulative data over 12 months) the financial account recorded net capital inflows of EUR 39.5 billion (compared with net inflows of EUR 29.3 billion in February 2025). Direct investment recorded net outflows of EUR 42.8 billion, compared with net inflows of EUR 45.1 billion a year earlier. Portfolio investment are virtually in balance with net outflows of EUR 1.2 billion (following EUR 37.9 billion in February 2025). Finally, net inflows from other investment reached EUR 123.4 billion, following net outflows of EUR 6.9 billion in February 2025.
In February 2026 (cumulative data over 12 months) the financial account recorded net capital inflows of EUR 39.5 billion (compared with net inflows of EUR 29.3 billion in February 2025). Direct investment recorded net outflows of EUR 42.8 billion, compared with net inflows of EUR 45.1 billion a year earlier. Portfolio investment are virtually in balance with net outflows of EUR 1.2 billion (following EUR 37.9 billion in February 2025). Finally, net inflows from other investment reached EUR 123.4 billion, following net outflows of EUR 6.9 billion in February 2025.
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-25 | Feb-26 | Jan-26 | Feb-26 |
| Current account | -3.3 | -5.5 | 2.3 | -1.8 |
| Goods | -64.1 | -53.1 | -2.1 | -5.1 |
| Energy | -52.1 | -39.8 | -2.1 | -3.2 |
| Goods excl. Energy | -12.1 | -13.3 | 0.0 | -2.0 |
| Services | 56.9 | 50.8 | 4.8 | 3.7 |
| Travel | 16.3 | 21.4 | 2.0 | 1.9 |
| Transport services | 5.4 | 0.1 | 0.4 | -0.2 |
| Professional and management consulting services,
Research and development and Technical services , trade-related and other business services |
8.1 | 11.0 | 0.5 | 0.9 |
| Other services | 27.2 | 18.3 | 2.0 | 1.1 |
| Income | 3.9 | -3.2 | -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-25 | Feb-26 | Déc-26 | Feb-26 |
| Financial account | -29.3 | -39.5 | -6.0 | -22.5 |
| Direct investment | -45.1 | 42.8 | -0.9 | 2.5 |
| Abroad | 36.3 | 73.4 | 0.8 | 6.2 |
| In France | 81.4 | 30.6 | 1.7 | 3.7 |
| Portfolio investment | 37.9 | 1.2 | 48.3 | -19.3 |
| Assets | 243.3 | 305.1 | 97.8 | 3.1 |
| Liabilities | 205.4 | 303.9 | 49.6 | 22.4 |
| Financial derivatives | -31.5 | 38.1 | 0.4 | 5.7 |
| Other investment | 6.9 | -123.4 | -54.0 | -11.3 |
| Reserve assets | 2.6 | 1.8 | 0.2 | -0.2 |
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_202602.pdf
Updated on the 7th of April 2026