France's goods trade deficit widened to €7.3 billion in September, French customs figures published on Friday showed, as imports led by energy and computers outpaced exports. The gap grew by €1.3 billion from August and came in wider than the €5.8 billion deficit economists had expected.

Imports rose by €2.4 billion to €62.7 billion, while exports gained €1.0 billion to €55.3 billion, according to the customs release. The figures are adjusted for seasonal and working-day effects and cover trade in goods only.

Energy imports drive the widening gap

The higher energy import bill was the main force behind the wider deficit. Energy imports rose by €0.9 billion to €8.0 billion in September, with French customs attributing the increase essentially to energy prices rather than to higher volumes. Oil prices surged back above $100 a barrel during September as the conflict in the Middle East raised concern about supply disruptions.

Exports were helped by aircraft deliveries, which customs noted can swing sharply from month to month, making the export figure less reliable as a guide to the underlying trend. On a second measurement basis, which values imports including the cost of insurance and freight, the September deficit was €9.2 billion, €1.2 billion wider than in August.

Twelve-month deficit still below 2025

Over the 12 months to September, France's goods trade deficit stood at €64.4 billion. That total widened for a third consecutive month, but it remained narrower than the deficit recorded over the whole of 2025, suggesting the annual position has improved even as the monthly figures have deteriorated through the autumn.

The September figures were published in the customs service's monthly release, "Le chiffre du commerce extérieur", issue number 411, dated 6 November 2026. France's next monthly trade figures, covering October, are due on 8 December.

Weak backdrop for French trade

The trade numbers land against a soft economic backdrop. France's economy contracted by 0.1% in the third quarter of 2026, and foreign trade subtracted 0.6 percentage points from growth in the quarter, as exports fell 1.7% and imports rose 0.1%. The government has also revised its projected public deficit for 2026 to 5.4% of gross domestic product, up from an initial target of 5.0%.

Consumer demand across the eurozone has also weakened. Retail sales in the currency area fell 0.7% in September, with Germany recording the sharpest monthly decline, and eurozone inflation rose to 4.0% in October, double the European Central Bank's target. High energy prices have weighed on household confidence in France, where nationwide protests and a sell-off in government bonds have added to the uncertainty facing consumers.

For France, the trade data underline how much of the deficit is driven by energy. Until energy import costs ease, the monthly goods balance is likely to remain in substantial deficit even if exports recover, leaving the government with little sign of the improvement in the external position that would help lift growth.