Rising oil and gas prices exacerbate trade deficit in France in the first quarter.

Data released by French customs on the 7th showed that, influenced by the escalating situation in the Middle East pushing up international oil and gas prices, France's trade deficit for the first quarter of this year expanded to 14.1 billion euros, an increase of 2.8 billion euros compared to the previous quarter. The data showed that imports in the first quarter of this year rose by 1.8% compared to the previous quarter, mainly driven by an increase in imports of energy products, especially natural hydrocarbons. At the same time, imports of pharmaceuticals, automotive products, as well as computer, electronic, and optical products also saw rapid growth. Meanwhile, exports in the first quarter increased by 0.1%, mainly due to a historical high in military equipment exports. France increased its imports of energy products from the United States. Data showed that the United States' share of French crude oil imports has increased from one quarter in 2025 to slightly over one-third in the current quarter. The French newspaper "Le Figaro" quoted senior economist Maxime Dalme from Allianz Trade Company warning that if the conflict continues, the French foreign trade situation in the second half of the year may deteriorate further. The slowdown in economic activity in many countries may weaken international demand for French goods and services.