Why does France have a current account deficit (an overall shortfall in savings) when the French household savings rate is very high?

In the case of France, there is a contradiction between: The existence of an external deficit (a current account deficit, i.e. a shortfall in savings); And a high household savings rate. How can we reconcile a current account deficit with a higher savings rate? Let us compare France and Germany to answer this question. The different possible explanations are: A high investment rate (by companies or by household s in housing) in France; A high fiscal deficit in France. We see that the corporate investment rate and the fiscal deficit are higher in France than in Germany, the former since 2016, the latter since 2006.