RTTNews - French current account deficit in May narrowed to EUR 2.2 billion from a revised EUR 3.5 billion in April, the Bank of France said Friday.
The current account deficit narrowed mainly due to a contraction in goods trade deficit to EUR 3.6 billion from EUR 4.4 billion in April. In addition, services surplus rose to EUR 1.4 billion from EUR 1 billion recorded in April and revenue increased to EUR 2.2 billion from EUR 2.1 billion. Moreover, the deficit in current transfers remained unchanged at EUR 2.1 billion.
The capital account balance in May was flat versus a surplus of EUR 0.2 billion in April, while financial account balance turned to a surplus of EUR 17 billion from April's EUR 16.2 billion deficit.
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