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I was doing a research on France history record of its balance of payments. I found france was having current account deficit through out the past 13 years (since 2007). At the same time period, France's financial account was also generally negative.

This is contradict to what I was tought: the balance of payments must equal to 0.

Source of information:

http://webstat.banque-france.fr/en/#/node/5385005

http://webstat.banque-france.fr/en/#/node/5385006

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  • $\begingroup$ It is probably the way they define the financial account. If you use the framework Current Account + Financial Account + [misc] = Change in Reserves then you get positive financial account numbers. $\endgroup$
    – Daniel
    Nov 7 at 14:33

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