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‪Opium played a key role in the economy and finances of French Indochina. The proceeds from its sale in the territory provided the general budget with a quarter of its revenue, making a major contribution to the colony’s development. It is therefore easy to understand why the colonial administration needed precise figures to determine the role of opium in its finances, and the extent of its consumption in the territory. But in the absence of statistical data, the reality of the opium trade remained poorly understood. Despite its essential role in financing the colony, the “monopoly” was only theoretical, and was threatened by massive and endemic smuggling. Clearly, the place of opium in the Indochinese colonial economy and society deserves to be reassessed.‪