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Foreign Trade in Figures

France is a major actor in global trade, with trade representing 71% of its GDP (World Bank, latest data available). According to data from Comtrade, France’s exports in 2023 were led by powered aircraft (4.7%), medicaments (4.1%), motor cars (3.9%), turbojets and gas turbines (3.1%), and parts and accessories for motor vehicles (2.3%); whereas imports comprised petroleum oils (7.7%), motor cars (5.9%), petroleum gas (4.9%), parts and accessories for motor vehicles (2.5%), and medicaments (2.3%). Aerospace exports continued to recover in 2023 (+16.7%) but remained below 2019 levels. Exports of perfumes, cosmetics, textiles, and capital goods reached record highs. The energy bill fell by nearly 40%, from EUR 115.5 billion in 2022 to EUR 69.0 billion in 2023, mainly due to normalized energy prices (data INSEE).

In terms of countries, the main export destinations in 2023 were Germany (13.5%), Italy (9.0%), Belgium (8.2%), Spain (7.5%), and the U.S. (7.1%), with imports coming chiefly from Germany (15.5%), Belgium (11.4%), Netherlands (8.8%), Spain (8.1%), Italy (8.0%), China (5.8%), and the U.S (5.6% - data Comtrade). Overall, the EU accounted for 55.3% of total exports and 52.4% of imports (INSEE).

France registers a strong structural trade deficit. Nevertheless, 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 2023, France exported goods with a total value of USD 648.4 billion (+4.5% y-o-y), while it imported USD 785.8 billion (-4.5% y-o-y amid lower energy prices). As for the services, France exported around USD 355.7 billion (+3.5% y-o-y), while imports stood at USD 322.5 billion (+11.6% y-o-y). The overall trade balance was estimated to be negative by 2.8% of GDP by the World Bank (from 2% one year earlier). According to the latest data published by the French customs authority, in 2024, CIF imports fell by 4.5% to EUR 698.9 billion, continuing the 2023 decline after two years of sharp increases. The drop, mainly driven by lower energy prices, outweighed a rise in aerospace imports. Manufactured goods imports also fell, with declines in cars and machinery surpassing gains in aerospace. Exports decreased by 1.6% to EUR 598.3 billion, ending three years of growth, mainly due to lower prices. The decline was driven by autos, hydrocarbons, and electronic components, while aerospace, perfumes, and agri-food exports increased. France lost some market share in 2024, following a rare gain in 2023.