FX.co ★ France Current Account Deficit Largest Since 2023

France’s current account deficit widened to a seasonally adjusted €4.7 billion in July 2026, up from an upwardly revised €1.6 billion in June. This was the largest shortfall since January 2023, mainly reflecting a deeper goods deficit and a weaker services balance.

The goods deficit increased to €6.8 billion in July from €5.2 billion in the previous month, while the services surplus narrowed to €3.8 billion from €5.3 billion. In addition, the primary income surplus edged down slightly, to €3.3 billion from €3.4 billion, and the secondary income deficit was unchanged at €5.0 billion.

Over the first seven months of 2026, France posted a cumulative current account deficit of €12.0 billion, an improvement from the €18.2 billion deficit recorded in the same period a year earlier.