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Airbus sales drive drop in French official trade deficit

Airbus sales drive drop in French official trade deficit
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First Published: Tue, Jul 07 2009. 02 51 PM IST
Updated: Tue, Jul 07 2009. 02 51 PM IST
Paris: Sales of Airbus airliners helped the French trade balance to show a sharply reduced deficit in May on an adjusted basis, data from the customs service showed on Tuesday.
The deficit fell to €2.718 billion ($3.8 billion) from €3.841 billion in April.
But the cumulative balance for the 12 months to May showed a deficit of €54.244 billion, the finance ministry said.
In May, exports amounted to €28.039 billion, boosted by sales in the aero sector that, with deliveries of Airbus airliners, achieved “the record level of December 2008.”
But in the last three months, exports showed a fall of 5.7%t from the level in the preceding three months, the ministry said.
Imports in May were little changed from the April level at €30.757 billion, and in the last three months thay had fallen by 4.9%.
Under the effects of global economic crisis, French exports and imports have fallen by more than 20% in the last three months.
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First Published: Tue, Jul 07 2009. 02 51 PM IST