Xifres de comerç exterior de França

Foreign Trade in Figures

France is a major actor in global trade. It is the world's ninth exporter and sixth importer of merchandise (WTO, 2021), and trade represents 60.8% of the country's GDP (World Bank, 2021). France exports essentially pharmaceutical products, aircrafts, vehicles, food products (wine), turbines and beauty products. The country imports vehicles, hydrocarbons, pharmaceutical products and many consumer goods (Comtrade). After collapsing in 2020 due to the COVID-19 pandemic, trade volumes rebounded in 2021 and remained high in 2022. According to IMF data, the volume of exports of goods and services increased by 6.9% compared to 2021, and the volume of imports increased by 6.7%. The IMF expects the volume of exports and imports to grow at a slower pace in 2023 (respectively +1.5% and +1.6%) and to accelerate in 2024 (respectively +3.7% and +3.2%).

France's main trade partners are the European Union (Germany being the 1st customer and supplier), the United States and China. The impact of the departure of the UK from the EU (Brexit) still raises many questions and may lead to a reorganisation of trade relations. The UK is currently France’s 6th customer and 8th supplier (Comtrade, 2021).

France registers a strong structural trade deficit. While the goods balance is structurally in deficit as the country is a net energy importer, the services balance is in surplus thanks to tourism revenues. According to WTO data, in 2021, France exported goods with a total value of USD 584.8 billion, while it imported them for a total value of USD 714.1 billion. As for the services, France exported around USD 303 billion worth services in 2021, while it imported services for the total value of USD 258.3 billion. Since 2015, the balance of goods and services excluding energy has become negative, as the deficit in manufactured goods continues to widen, mainly due to the relocation of automobile production and investment in imported machinery. Imports are developing quickly, as the French population buys a substantial amount of imported goods, which are sold at cheaper prices on the local market compared with products that are 'Made in France'. Despite the government's efforts to favour innovation, French exports have a relatively low added value. In 2021, the trade deficit excluding services reached USD 79.5 billion  (World Bank). According to the latest data published by INSEE (Points de Conjoncture, December 2022), in 2022 exports of goods and services increased by 8.1% compared to 2021, while imports increased by 8.9%. Despite limited trade with Russia, the war in Ukraine contributes to the deterioration of the external situation and a slowdown in activity in Europe. The weaker demand will hamper the rebound of key sectors such as aeronautics, and the automotive industry (Coface).