Airbus posts record trade deficit


Mar 9, 2017-

France slipped into its biggest monthly trade deficit ever because of weak foreign sales by aircraft maker Airbus, a cornerstone of the country’s exports, customs said Wednesday. Exports fell 7.7 percent in January from December and imports rose by 2.9 percent, resulting in a record trade gap of 7.9 billion euros ($8.3 billion), the customs office said in a statement. The figure is a setback for the French government which has been trying to improve its trade balance in the hope of creating jobs at home and rekindling sluggish growth. It comes after the trade deficit already rose by more than three billion euros in 2016 over the previous year, to 48.1 billion. The customs officer explained the January fall by “extremely low Airbus sales”. A pullback after traditionally strong end-year deliveries had always been expected, it said, “but the level of group sales is weaker than in previous months of January”.

Published: 09-03-2017 09:56

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