French trade deficit jumps in February

An increase in energy imports due to a cold snap in February sent France's trade deficit jumping by nearly 15 percent in February to hit 6.4 billion euros ($8.4 billion), customs data showed Friday.

"In February, the increase in imports is in part due to energy purchases connected to the cold snap, which caused the deficit to widen to 6.398 billion euros from 5.593 billion euros in January," said the French customs service in a statement.

In addition to the cold weather, three oil refineries were shut for maintenance, also causing a spurt in imports, the customs service noted.

Imports rose to 43.6 billion euros in February and exports to 37.2 billion euros.

Exports were helped by good sales of manufactured items, as well as agricultural commodities and military equipment, noted the customs service.

Major deliveries of satellites and a rebound in vehicle exports also helped the monthly figures.

The 12-month trade deficit came in at 70.051 billion euros.

France posted a record trade deficit in 2011 of 70.104 billion euros.

France has a big structural trade deficit which is a central concern to policymakers, and contrasts with a big surplus by the leading eurozone economy, Germany.

A trade surplus is important because it contributes to growth of gross domestic product, while a trade deficit tends to be a drag on the economy.

  • Nissan tests self-cleaning paint that could make car washes obsolete 51 minutes ago
    Nissan tests self-cleaning paint that could make car washes obsolete

    During this vile, never-ending winter, motorists had three options to keep their cars clean: Shell out on regular car washes; slave away in the cold, wind and snow washing it yourself, or screw it and just drive a dirty car. I, like many, chose the last option. But if only I'd been able to test Nissan's self-cleaning car, all my troubles would have washed away.

  • Popular hot yoga myths debunked 7 hours ago
    Popular hot yoga myths debunked

    What’s the hottest new workout taking the world by storm? That would be hot yoga, also known as Bikram yoga. Conducted in a heated room with sweltering temperatures of about 40°C (or approximately 104° Fahrenheit) and 40 per cent humidity, … Continue reading →

  • Thursday #sgroundup: Body found of boy who made first call from Korea ferry: report 8 hours ago
    Thursday #sgroundup: Body found of boy who made first call from Korea ferry: report

    Here are today’s top trending stories in case you missed them.

  • Photo of a very thin Lee Kuan Yew sparks concern
    Photo of a very thin Lee Kuan Yew sparks concern

    A new picture of Singapore's first prime minister, Lee Kuan Yew, who is now 90 years old, has drawn concern from people on Singapore's internet space.

  • Waste oil collector struggles after STOMP posts, receives help from kind souls
    Waste oil collector struggles after STOMP posts, receives help from kind souls

    After being photographed at work in Jurong pooling used oil near coffee shops, 50-year-old Valerie Sim has been struggling to keep her family afloat. Web portals STOMP and The Real Singapore published pictures of her in February, triggering a witch hunt for others like her and comments from readers like “Who knows if they’ll use it as cooking oil?” Some readers also said they filed police reports against her and other people they believed were doing the same thing she was.

  • I tendered my resignation without securing the next job. Here’s why I don’t mind.
    I tendered my resignation without securing the next job. Here’s why I don’t mind.

    I have committed a taboo – I have tendered my resignation without securing the next job. The reactions to the announcement were varied but they all pretty much hint at a deep sense of disapproval. “Why did you do that?” It was as if I had renounced my faith. “What are you going to do from now on?” Almost as though a misfortune had incapacitated me. “What does your family have to say about it?” As if I had offered to cook for the next family dinner. I was, and still am, certain of my reasons and motivations for the resignation. However the response I received got me thinking about why people are so concerned about the gaps in their careers. The developed world evolved from an agricultural economy to an industrial economy to the service age, then to the knowledge economy in the late 1990s and 2000s marked by breakthroughs in technological innovations and competition for innovation with new products and processes that develop from the research community. According to The Work Foundation, the knowledge economy is driven by the demand for higher value added goods and services created by more sophisticated, more discerning, and better educated consumers and ... The post I tendered my resignation without securing the next job. Here’s why I don’t mind. appeared first on Vulcan Post.