In June 2026, the trade balance improved by €1.9 billion to -€5.8 billion, after the decline observed in May (-€2.0 billion). This change is explained by an increase in exports (+€1.3 billion) combined with a decrease in imports (-€0.5 billion).

• The increase in exports in June 2026 was linked to deliveries of transport equipment and energy products (+€0.3 billion each), as well as to those of mechanical, electronic and IT equipment and other industrial products (+€0.2 billion each).
• The decrease in imports in June 2026 was due to a decrease in supplies of transport equipment (-€0.6 billion) and energy products (-€0.5 billion) in a context of lower energy prices. Conversely, acquisitions of mechanical, electronic and IT equipment increased significantly (+€0.6 billion), particularly from Taiwan.

In May 2026, the trade balance deteriorated by €1.5 billion to -€6.9 billion, after the improvement observed in April (+€1.0 billion). This change is explained by a decline in exports (-€1.1 billion) combined with a more moderate increase in imports (+€0.4 billion).

• The decrease in exports in May 2026 is mainly due to the decline in sales of military equipment (-€0.8 billion), as a result of very dynamic exports in April (+€0.6 billion). Exports of mechanical, electronic and computer equipment also decreased (-€0.4 billion). Conversely, deliveries of transport equipment increased (+€0.2 billion), particularly aeronautics and space industry products (+€0.5 billion).
• The increase in imports in May 2026 is largely due to an increase in acquisitions of transport equipment (+€0.4 billion), in particular automotive products (+€0.3 billion). Conversely, supplies of energy products decreased in value (-€0.4 billion) as a result of a further drop in volumes and the fall in prices after two months of increases.

In April 2026, the trade balance increased by €0.8 billion to -€5.6 billion, after the sharp decline recorded in February (-€3.5 billion) and March (-€1.3 billion). This change can be explained by a strong increase in exports (+€1.7 billion), which is more dynamic than that of imports (+€0.9 billion).

• The growth in exports in April 2026 was mainly due to the growth in deliveries of transport equipment (+€0.7 billion), particularly aeronautical products, and the growth in electrical, electronic and IT equipment (+€0.6 billion).
• The increase in imports in April 2026 was mainly due to the growth in supplies of natural hydrocarbons (+€0.4 billion), computer, electronic and optical products (+€0.4 billion) and chemicals, perfumes and cosmetics (+€0.3 billion).
• In terms of imports, the consequences of the war in the Middle East and the closure of the Strait of Hormuz on the flow of goods are beginning to materialize in April 2026. Imports from the countries of the zone, mainly energy, are halved compared to March 2026 and are offset by supplies from other supplier countries (the United States and African countries in particular).

In March 2026, the trade balance fell by a further €1.4 billion to -€6.9 billion. This change is explained by a further marked increase in imports (+€1.8 billion), partially offset by a slower increase in exports (+€0.5 billion).

• The increase in imports is mainly due to the increase in supplies of energy products (+€1.6 billion), particularly from Kazakhstan. This increase in value is explained in particular by the increase in energy prices in connection with the crisis in the Middle East.
• The growth in exports, although more moderate, is also caused by the increase in deliveries of energy products (+ 0.4 billion euros, i.e. +0.2 billion euros of refined petroleum products and +0.2 billion euros of electricity) in the context of rising prices.

France’s trade deficit narrowed slightly to -€5.5 billion in August 2025 up from -€5.7 billion in July (revised up from -€7.3 billion), as exports edged down -0.1% MoM to €51.8 billion and imports fell -0.4% MoM to €57.3 billion, supported by stronger transport equipment sales and lower energy imports.

• Exports excluding military and small-scale items were flat (€50.9 billion), while imports declined -0.3% to €58.2 billion, improving the adjusted trade balance by €196 million.

• Transport equipment exports rose +4.9% MoM to €11.4 billion, widening the surplus to €1.4 billion (+€640 million vs July).

• Mechanical, electrical, and computer equipment exports were stable (+0.0%), though imports fell -1.1%, trimming the category’s deficit to -€2.9 billion.

• Refined petroleum exports dropped -8.8% and imports -7.6%, leaving a deficit of -€1.1 billion, little changed on balance.

• Exports of other industrial products fell -1.4% MoM, widening the deficit to -€2.3 billion.

• Trade with the EU posted a deficit of -€2.7 billion (–€0.6 billion vs July) as both exports (-1.0%) and imports (-1.1%) slipped.

• Exports to Africa grew +8.3% MoM while imports rose +11.8%, leaving the deficit broadly steady at -€0.5 billion.

• Trade with the Near and Middle East improved sharply (+5.0% exports, -3.5% imports), narrowing the deficit to -€1.2 billion (+€390 million).

• Exports to Asia declined -12.6%, widening the regional deficit to -€4.9 billion (+€458 million deterioration).