The world economy has been facing an unprecedented shock since the winter of 2020 that has swept away all forecasts. The shock of the pandemic and health restrictions will lead to a sharp drop in global GDP in 2020. The rebound that will follow in 2021/2022 could be just as spectacular, but will leave its mark. Despite rather pessimistic forecasts, it is important to look back at the dynamism of French exports in 2019.
According to the Treasury Department’s annual report on French foreign trade, France will maintain its rank as the world’s fifth largest exporter in 2019, with a trade balance that improves for the first time since 2015. France has reduced its trade deficit by 3.9 billion euros.
This is an opportunity for CERL to review the main key figures for French foreign trade and to create new opportunities and leads for importers and exporters!
Increase in exports in 2019
Thanks to a 3% increase in exports and a 2% increase in imports, the trade balance improved for the first time since 2015. Despite a complex context with a lack of vitality in international trade and rising trade tensions, first between the United States and China and then between the United States and Europe, France reduced its trade deficit by €4 billion. French exports reached nearly €508 billion and imports amounted to €567 billion. Excluding energy, the negative trade balance fell to €29.1 billion.
Top 5 French exports
There is a lot of good news for exports in 2019.
France benefits in particular from the dynamism of exports in the aeronautics, pharmaceutical and food processing sectors. Exports of aeronautical products increased for the second consecutive year (+9.0% to €55.9 billion).
The agri-food sector also grew by +3.2% to €64.4 billion. The luxury goods sector continues to perform well and also grew by + 9.0% with €55.9 billion.
Only capital goods, textiles and automobiles remain the main loss-making sectors.
Finally, it should be noted, with regard to services, that France’s traditional surplus in this sector of activity fell slightly with -€2 billion to stabilise at €21.8 billion.
Key figures for French exports
France is strengthening its presence abroad and now counts nearly 3000 new export companies in 2019. With 45,000 subsidiaries, France is the European country with the most subsidiaries in the world.
In 2018, French exports accounted for 3.5% of global exports of goods and services. According to the Secretary of State for Europe and Foreign Affairs Jean-Baptiste Lemoyne, France would have increased its exports by +3.3% while Germany and Italy would have increased their exports by only 0.7% and 1.4% respectively in 2019.
CERL, the facilitator of your exports and imports
CERL can help you with your export logistics! Friends shippers, entrust your goods to experts who will be able to respond to your concerns efficiently.
CERL has a unique know-how that only a handful of logistics service providers in Europe share. Our teams have a perfect command of multimodal logistics and exceptional logistics (chartering of ships or air freight, special consignments and heavy loads, synchronisation of logistics flows, specific formalities). Do not hesitate to contact our services.