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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).

 
Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 676,441654,658581,297715,082818,260
Exports of Goods (million USD) 582,222570,951488,637585,021617,855
Imports of Services (million USD) 273,987267,073224,705258,251285,803
Exports of Services (million USD) 302,735295,746246,048301,321337,189

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 64.464.156.960.872.1
Trade Balance (million USD) -60,734-52,800-65,669-79,447-144,267
Trade Balance (Including Service) (million USD) -32,201-24,198-46,837-38,447-89,630
Imports of Goods and Services (Annual % Change) 3.12.3-12.88.08.9
Exports of Goods and Services (Annual % Change) 4.51.6-16.88.87.0
Imports of Goods and Services (in % of GDP) 32.732.529.431.438.1
Exports of Goods and Services (in % of GDP) 31.731.627.529.434.0

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2023 (e)2024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 4.45.13.94.23.6
Volume of imports of goods and services (Annual % change) 2.94.32.73.93.3

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
France is a member of the following international economic organisations: ICC, European Union, WTO, European Economic Area, G-5, G-7, G-8, G-10, G-20, IMF, OECD, among others. For the full list of economic and other international organisations in which participates France click here. International organisation membership of France is also outlined here.
Free Trade Agreements
The complete and up-to-date list of Free Trade Agreements signed by France can be consulted here.
 

Main Partner Countries

Main Customers
(% of Exports)
2022
Germany 13.7%
Italy 9.2%
United States 7.9%
Belgium 7.9%
Spain 7.6%
See More Countries 53.8%
Main Suppliers
(% of Imports)
2022
Germany 14.6%
Belgium 11.3%
Netherlands 8.2%
Spain 7.7%
Italy 7.4%
See More Countries 50.8%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

618.3 bn USD of products exported in 2022
Powered aircraft "e.g. helicopters and aeroplanes...Powered aircraft "e.g. helicopters and aeroplanes"; spacecraft, incl. satellites, and suborbital and spacecraft launch vehicles 4.2%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 4.2%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.4%
Turbojets, turbopropellers and other gas turbinesTurbojets, turbopropellers and other gas turbines 2.6%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 2.1%
See More Products 83.6%
819.4 bn USD of products imported in 2022
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 7.4%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.6%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 4.5%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 4.2%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.1%
See More Products 77.2%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

226.7 bn USD of services exported in 2020
38.45%
18.72%
14.36%
6.86%
6.48%
4.80%
4.66%
2.48%
1.84%
1.08%
0.27%
215.9 bn USD of services imported in 2020
36.51%
21.50%
12.86%
9.17%
5.70%
5.29%
3.45%
2.31%
2.21%
0.93%
0.08%

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Actualitzacions: November 2023

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