Last year, France’s trade balance recorded a record trade deficit: 164 billion euros, unheard of in this area, which exceeds the previous record dating back to… 2021 (84.7 billion). « Unfortunately, we are in continuity with previous years. “, lamented Olivier Becht, the Minister of Foreign Trade, during a press conference in Bercy. We have to go back to 2002 to find a trade surplus. Since then, it’s been a free fall, France imports much more than it exports. And in 2022, soaring energy prices have not helped, quite the contrary!
A trade deficit weighed down by energy
Imported energy prices were multiplied by 2.1 year-on-year. That’s bad news: the country had to import more last year because of a nuclear fleet unable to meet needs. ” Unsurprisingly, this impacts our balance of goods in much the same way “, admits Olivier Becht. On gas, for example, the import bill reached 59 billion euros, or 248% more than the previous year. The total energy bill amounts to 115 billion. Added to this are tensions over raw materials and supply chains, as well as the fall of the euro once morest the dollar, which is making imports more expensive.
Services in great shape
Still, there is some good news in this somewhat depressing picture. Thus, services had a very good year with a record surplus of 50 billion euros (36 billion in 2021). Tourism has rebounded and maritime transport is in good shape. Automotive, aeronautics and space, perfumes and even agricultural products are sectors that have recorded good results. But this is insufficient to offset energy imports.