France's GDP in volume terms grows by 0.5% QoQ in Q2 2023: INSEE

01 Sep '23

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France's GDP in volume terms grew by 0.5 per cent quarter on quarter in Q2 2023, while the margin rate of non-financial corporations rose sharply in the quarter to 33.2 per cent of their added value after 31.7 per cent in Q1.
Exports rebounded sharply by 2.7 per cent after a 1.7 per cent fall in Q1; imports rose by 1.6 per cent after a drop of 2.5 per cent in Q1.

France’s gross domestic product (GDP) in volume terms grew by 0.5 per cent quarter on quarter (QoQ) in the second quarter (Q2) this year, while the margin rate of non-financial corporations increased sharply by 1.5 percentage points in the quarter to 33.2 per cent of their added value after 31.7 per cent in Q1.

Foreign trade bounced back in the quarter. Exports rebounded sharply by 2.7 per cent after a 1.7 per cent decline in Q1, due to manufactured products.

Imports were also back on the rise, from a drop of 2.5 per cent in Q1 to a rise of 1.6 per cent in Q2, mainly due to increased imports of energy, the National Institute of Statistics and Economic Studies (INSEE) said in a release.

All in all, the contribution of foreign trade to GDP growth remained positive for the third consecutive quarter.

ALCHEMPro News Desk (DS)

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