French February trade deficit narrows to €3.4b

 France''''s trade deficit narrowed in February to Euros 3.4 billion (USD 4.6 billion) from Euros 5.9 billion (USD 8.0 billion) in January, reflecting a sharp drop in imports, especially in the energy sector, the French Foreign Ministry said Tuesday.A statement indicated that over the past 12 months up until February, the trade deficit now stands at Euros 59.1 billion (USD 80.0 billion) compared with Euros 67.1 billion (USD 91.0 billion) for all of 2012. The statement said that the slight improvement in the trade balance was "still unsatisfactory" and more needed to be done to give dynamic to the economy and promote exports.France has now set up "an international pole" that brings Foreign Affairs, Trade and Tourism under the one ministry in an attempt to improve performance and efficiency.