France 2008 Balance Of Payments Deficit EUR44 Billion Vs EUR18.9 Billion

Thu, Jun 11 2009, 22:15 GMT
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France 2008 Balance Of Payments Deficit EUR44 Billion Vs EUR18.9 Billion PARIS -(Dow Jones)- France's 2008 balance of payments deficit rose to EUR44 billion from EUR18.9 billion in 2007 and increased to 2.3% of gross domestic product from 1% of GDP, the Bank of France said Friday. Net foreign investments by France abroad exceeded investments in France from abroad by EUR70.4 billion, compared to EUR47.6 billion in 2007. However, investment in French securities from abroad exceeded investment by French residents in securities abroad by EUR89.4 billion, compared to a net outflow of investment in securities of EUR121 billion in 2007. The reversal of the flow is explained by a drop in the purchase of foreign debt and a rise in non-residents buying French securities, the Bank of France said.

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(END) Dow Jones Newswires
June 11, 2009 18:15 ET (22:15 GMT)
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