France's balance of payments - 2026-09
Published on 6th of November 2026
In September 2026, the current account deficit (seasonally and working-day adjusted data) widened by EUR 1.3 billion, reaching EUR 2.7 billion, after a deficit of EUR 1.4 billion in August 2026. This deterioration mainly resulted from a EUR 1.1 billion increase in the trade in goods deficit, which reached EUR 6.2 billion after a deficit of EUR 5.1 billion in August. This reflected both a larger non-energy goods deficit (EUR 2.0 billion in September after EUR 1.5 billion in August) and a higher energy bill (EUR 4.2 billion in September after EUR 3.6 billion in August). The surplus in trade in services remained stable at EUR 4.9 billion. In particular, a EUR 0.4 billion increase in the surplus on transport services was offset by an equivalent decline in the surplus on other services. Over 12 months, the current account balance stood at EUR -13.7 billion, compared with EUR -15.8 billion a year earlier.
In September 2026 (cumulative data over 12 months), the financial account (non-adjusted data) recorded net outflows of EUR 53.4 billion, following net inflows of EUR 17.2 billion in September 2025. Direct investment, financial derivatives and other investment recorded net outflows of EUR 29.0 billion (following net outflows of EUR 26.4 billion a year earlier), EUR 46.2 billion (after net inflows of EUR 7.2 billion a year earlier) and EUR 24.5 billion (after net inflows of EUR 151.1 billion a year earlier), respectively. Conversely, portfolio investment recorded net inflows of EUR 46.9 billion, compared with net outflows of EUR 110.1 billion in September 2025.
In September 2026 (cumulative data over 12 months), the financial account (non-adjusted data) recorded net outflows of EUR 53.4 billion, following net inflows of EUR 17.2 billion in September 2025. Direct investment, financial derivatives and other investment recorded net outflows of EUR 29.0 billion (following net outflows of EUR 26.4 billion a year earlier), EUR 46.2 billion (after net inflows of EUR 7.2 billion a year earlier) and EUR 24.5 billion (after net inflows of EUR 151.1 billion a year earlier), respectively. Conversely, portfolio investment recorded net inflows of EUR 46.9 billion, compared with net outflows of EUR 110.1 billion in September 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) | Sep- 2025 | Sep- 2026 | Aug- 2026 | Sep- 2026 |
| Current account | -15.8 | -13.7 | -1.4 | -2.7 |
| Goods | -62.6 | -57.2 | -5.1 | -6.2 |
| Energy | -43.2 | -42.5 | -3.6 | -4.2 |
| Goods excl. Energy | -19.3 | -14.7 | -1.5 | -2.0 |
| Services | 46.8 | 54.0 | 4.9 | 4.9 |
| Travel | 18.9 | 23.8 | 2.1 | 2.3 |
| Transport services | 0.8 | 2.5 | 0.4 | 0.8 |
| Professional and management consulting services,
Research and development and Technical services , trade-related and other business services |
11.0 | 15.0 | 1.3 | 1.1 |
| Other services | 16.2 | 12.7 | 1.1 | 0.7 |
| Income | -0.1 | -10.6 | -1.1 | -1.5 |
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- 2025 | Sep- 2026 | Aug- 2026 | Sep- 2026 |
| Financial account | -17.2 | 53.4 | 6.4 | 9.8 |
| Direct investment | 26.4 | 29.0 | -1.2 | -0.3 |
| Abroad | 98.9 | 59.3 | 2.4 | 3.0 |
| In France | 72.5 | 30.3 | 3.7 | 3.3 |
| Portfolio investment | 110.1 | -46.9 | 1.9 | -18.0 |
| Assets | 333.0 | 254.1 | 9.1 | -4.6 |
| Liabilities | 223.0 | 301.1 | 7.1 | 13.4 |
| Financial derivatives | -7.2 | 46.2 | -7.2 | 8.7 |
| Other investment | -151.1 | 24.5 | 12.8 | 18.9 |
| Reserve assets | 4.6 | 0.6 | 0.1 | 0.5 |
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_202609.pdf
Updated on the 5th of November 2026