Bercy's huge miscalculation of France's trade deficit

Nearly five billion euros difference. According to an alarming confidential note from the Customs Directorate, the French administration would have miscalculated
the external trade deficit for the 2017 financial year, reveals the Duck chained in its edition of Wednesday, November 28th.

If the trade deficit of France reached 48.3 billion euros in 2016, it climbed to 62.3 billion euros in 2017, a considerable increase, but false. According to the European agency Eurostat, French imports were underestimated by 12 billion euros and exports by 7 billion euros, a difference of 5 billion euros. The French trade deficit would therefore reach nearly 67.3 billion euros.

An offset already pointed in a note in 2014

To lighten the administrative aspect, Brussels has authorized European companies, which are important in another
the European Union for less than 460.000 euros, to do without form. It is therefore up to customs to estimate the amounts of these undeclared exchanges and to communicate them. But they have "mishandled the VAT data reported by the French importing companies and the tax returns of European companies exporting to France",
detailed Challenges.

As early as 2014, a customs note alerted on a discrepancy, estimating that the commercial balance of France would have been "degraded by 10 to 20 billion". Bercy can rest badured that France is not the only country in the EU that has underestimated its trade deficit. According to the weekly, Germany has improved its trade deficit by 15 billion euros.