Latest update: 09/12/2008 

- France - trade


Export drop feeds French trade deficit
Export drop feeds French trade deficit
France posted a record trade deficit for the month of October as exports fell 4.5%, with the steel and auto industries leading the plunge. Finance Minister Christine Lagarde said France could "do better".

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AFP - France posted a record trade deficit in October, outpacing a dismal performance in September as the global economy slowed sharply, official figures showed Tuesday.
  
Customs data put the October deficit at 7.07 billion euros (9.08 billion dollars), up from 5.96 billion euros in September.
  
"Against a backdrop of a slowing overall economy, exports fell sharply, due particularly to problems in the auto and steel sectors," the budget ministry said in a statement.
  
"Imports meanwhile remained strong, meaning the deficit continued to increase," it added.
  
In October, exports fell to 32.56 billion euros from 34.09 billion euros in September as imports slipped to 39.63 billion euros from 40.05 billion euros.
  
Over the past 12 months, the cumulative trade deficit was 56.20 billion euros, the ministry added.

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