France saw a record trade deficit in the first six months of 2005 as higher oil prices and rising imports outstripped the country’s export gains.

Imports rose by 3.5 per cent on the previous six-month period to €187bn ($230bn, £127bn) while exports grew 2.6 per cent to €175.8bn. Christine Lagarde, the trade minister, admitted that the figures were “not good”, saying France was steadily losing its market share in world trade.