France's balance of payments 2023Apr

Current account remained close to balance in April
The current account balance (seasonally and working-day adjusted data) amounted to -0.1 billion euros in April, after a slight surplus of 0.3 billion euros in March. The goods deficit widened slightly (-7 billion euros against -6.2 billion in March) due to the rise in the energy bill. On the other hand, the surplus on services increased in April to 4.2 billion euros (from 3.7 billion in March).

The financial account (not seasonally adjusted) showed net capital inflows of 15.6 billion euros. In April, both portfolio investments and loans and deposits recorded net inflows of 10.1 billion and 4.2 billion euros, respectively.

France's balance of payments
(EUR billions)
Mar-2023 (b) Apr- 2023 (b)
Current account (seasonally and working-day adjusted) 9.0 -56.8 0.3 -0.1
Goods (1) -67.4 -136.7 -6.2 -7.0
Energy -41.0 -109.6 -5.1 -6.5
Goods excl. Energy -26.4 -27.1 -1.1 -0.5
Services 36.4 48.8 3.7 4.2
Travel 5.1 11.3 1.3 2.9
Transport services 16.5 23.5 0.4 0.3
Professional and management consulting services, Research and development and Technical services, trade-related and other business services 10.9 7.9 0.8 0.5
Other services (2) 4.0 6.1 1.2 0.6
Primary and secondary income (3) 40.0 31.1 2.7 2.7
Capital account (not adjusted) 11.7 10.8 0.9 0.1
Financial account (not adjusted) 3.0 -104.2 12.2 -15.6
Direct investment -9.7 -10.0 1.2 0.9
Abroad 64.9 82.5 7.0 6.6
In France 74.6 92.5 5.8 5.7
Portfolio investment -5.3 -138.4 -22.5 -10.1
Assets 98.8 5.2 -4.1 26.0
Liabilities 104.1 143.5 18.4 36.1
Financial derivatives 17.8 -41.1 1.1 -2.8
Loans and deposits(4) -22.6 83.3 31.6 -4.2
Reserve assets 22.8 1.9 0.8 0.6
Net errors and omissions -17.7 -58.3 14.5 -14.1
(a) Yearly 2021 data (b) Provisional data (c) Cumulative quaterly data (not adjusted)
(1) to (4) See methodological notes on page 2.
Source and production: BANQUE DE FRANCE - DGSEI
Current account balance and its components (billion euros, seasonally and working-day adjusted data)
Methodological notes relating to page 1 table
(1) Data on trade in goods are FOB-FOB values, which means without cost, insurance and freight. This expenditure is recorded in the services item. Exchanges of goods cover General merchandise published by the Directorate General of Customs and Excise (DGDDI) on one side, merchanting and methodological adjustments calculated by the Banque de France, on the other side. In order to ensure the comparability of French balance of payments with those of other countries and conformity with the international standards, the international standard for Balance of Payments statistics is released under the aegis of the International Monetary Fund. The key concept for the balance of payments is the concept of economic ownership which is consistent with the national accounts.
(2) Services other than travel (tourism and professional travels), transport services, professional and management consulting services, R&D and development and technical services, trade-related and other business services include manufacturing, maintenance and repair, construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunication, computer and information services, personal, cultural and recreational services and government goods and services.
(3) Income includes primary and secondary incomes. Primary income refers to the flows received by economic agents for their participation in the production process ("compensation of employees") or for the provision of financial assets ("investment income") or for the rental of natural resources ("rent"). Taxes and subsidies on products and production are also included in primary income. Secondary income records current transfers between residents and non-residents. A transfer is a transaction that involves the provision of a good, service, financial asset or another non-produced asset without receiving something of economic value in exchange.
(4) The "other investment" (loans and deposits) component of the financial account includes all transactions in financial assets and liabilities with non-residents that do not concern direct investment, portfolio investment, financial derivatives or reserve assets. In practice, this mainly concerns bank deposits and interbank lending, as well as loans and deposits made by insurance companies and all kinds of investment companies and funds.

More information on methodology, time series, calendar
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Balance of paymentsSTAT INFO - April 2023
Stat Info Balance of payments

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France's balance of payments
  • Published on 06/07/2023
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Published on Wednesday, June 7, 2023