Better in the economy French. The exports of goods reached 439 billion euros in the first three quarters of 2022, an increase of 20% compared to the same period last year, according to a report published on Sunday by Business France.
After a year 2021 when French exports of goods had “benefited from a post-pandemic rebound” and had “started to rise once more”, with an increase of 17% to 501 billion euros, “the growth in exports of goods accelerated” at the start of 2022, specifies Business France.
“Increase in the number of exporters”
In addition, this growth was accompanied by an “increase in the number of exporters, from 130,300 to 137,500”, notes the organization. This rise “continued in the first quarter of 2022 to reach 139,400, the highest level in 20 years”, he indicates.
During the first three quarters of 2022, all export sectors saw their exports increase in value, compared to their pre-health crisis level over the same period in 2019.
The traditional French export sectors – agri-food and agricultural sector (+28%), textiles (+30%), pharmaceuticals, chemicals, perfumes and cosmetics (+24%) -, in particular, “consolidate their level of exports”, according to the balance sheet.
Inflation is killing everything
However, high inflation, whether from energy or other goods, is weighing down foreign trade figures, resulting in a historically bad trade deficit in 2022. The French government is thus banking on a negative balance of 156 billion euros, according to the documents of the finance bill for 2023.
Energy prices have indeed been rising for more than a year, driven in particular by the strong economic recovery that followed the blockages linked to Covid-19. An accelerated rise since the invasion Russian in Ukraine, which has also imposed significant pressure on food prices
The resulting deterioration in the energy balance is the justification put forward by customs for months to explain this surge in the trade deficit. French.
In September, the rolling 12-month deficit already stood at 149.9 billion euros, compared to 85 billion euros in 2021, an already historic level of deficit.