France's balance of payments - 2026-08
Published on 7th of October 2026
In August 2026, the current account deficit (seasonally and working-day adjusted data) improved by EUR 2.4 billion to EUR 1.5 billion, following a deficit of EUR 3.9 billion in July 2026. This improvement resulted from an increase in both the goods and services balances. The goods trade deficit narrowed to EUR 5.3 billion, from EUR 6.8 billion in July, mainly due to the improvement in the goods excluding energy balance (EUR -1.7 billion in August, after EUR -3.0 billion in July). The energy deficit was virtually unchanged, declining slightly from EUR 3.8 billion in July to EUR 3.6 billion in August. The services trade surplus increased to EUR 4.8 billion, from EUR 3.8 billion in July, driven by a rise in the other business services balance, which stood at EUR 1.4 billion after EUR 0.3 billion in July. Over 12 months, the current account balance stood at EUR -10.3 billion, compared with EUR -17.2 billion a year earlier.
In August 2026 (cumulative data over 12 months), the financial account (non-adjusted data) recorded net outflows of EUR 35.9 billion, following net inflows of EUR 14.2 billion in August 2025. Direct investment, financial derivatives and other investment recorded net outflows of EUR 37.2 billion (following net outflows of EUR 18.0 billion a year earlier), EUR 37.2 billion (after net inflows of EUR 6.6 billion a year earlier) and EUR 14.0 billion (after net inflows of EUR 122.9 billion a year earlier), respectively. Conversely, portfolio investment recorded net inflows of EUR 52.8 billion, compared with net outflows of EUR 92.2 billion in August 2025
In August 2026 (cumulative data over 12 months), the financial account (non-adjusted data) recorded net outflows of EUR 35.9 billion, following net inflows of EUR 14.2 billion in August 2025. Direct investment, financial derivatives and other investment recorded net outflows of EUR 37.2 billion (following net outflows of EUR 18.0 billion a year earlier), EUR 37.2 billion (after net inflows of EUR 6.6 billion a year earlier) and EUR 14.0 billion (after net inflows of EUR 122.9 billion a year earlier), respectively. Conversely, portfolio investment recorded net inflows of EUR 52.8 billion, compared with net outflows of EUR 92.2 billion in August 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) | Aug-25 | Aug-26 | Jul-26 | Aug-26 |
| Current account | -17.2 | -10.3 | -3.9 | -1.5 |
| Goods | -64.7 | -56.4 | -6.8 | -5.3 |
| Energy | -43.5 | -41.8 | -3.8 | -3.6 |
| Goods excl. Energy | -21.2 | -14.6 | -3.0 | -1.7 |
| Services | 47.4 | 53.4 | 3.8 | 4.8 |
| Travel | 18.4 | 23.1 | 2.1 | 2.1 |
| Transport services | 1.4 | 1.6 | 0.3 | 0.3 |
| Professional and management consulting services,
Research and development and Technical services , trade-related and other business services |
11.2 | 15.0 | 0.3 | 1.4 |
| Other services | 16.3 | 13.7 | 1.2 | 1.1 |
| Income | 0.1 | -7.3 | -0.9 | -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) | Aug-25 | Aug-26 | Jul-26 | Aug-26 |
| Financial account | -14.2 | 35.9 | 0.3 | 6.4 |
| Direct investment | 18.0 | 37.2 | -2.9 | -1.2 |
| Abroad | 98.0 | 59.2 | 1.9 | 2.4 |
| In France | 80.0 | 22.0 | 4.8 | 3.7 |
| Portfolio investment | 92.2 | -52.8 | 29.8 | 1.9 |
| Assets | 323.8 | 290.1 | 50.2 | 9.1 |
| Liabilities | 231.5 | 342.9 | 20.4 | 7.1 |
| Financial derivatives | -6.6 | 37.2 | -14.0 | -7.2 |
| Other investment | -122.9 | 14.0 | -12.4 | 12.8 |
| Reserve assets | 5.0 | 0.2 | -0.2 | 0.1 |
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).
AT Internet - liste domaines
Banque de France
Download the PDF version of the document
EN_Stat_Info_France_s_balance_of_payment_202608.pdf
Updated on the 6th of October 2026