Is France in a trade deficit?

The trade balance in France reached its lowest in 2020 with -46.5 billion euros on average.

Is France in a trade deficit or surplus?

A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2020, the trade deficit of goods in France amounted to about 94.01 billion U.S. dollars.

France: Trade balance of goods from 2010 to 2020 (in billion U.S. dollars)

Characteristic Trade balance in billion U.S. dollars

Why is France in a trade deficit?

Since 2004, France has been recording trade deficits due the gradual erosion of the export-oriented industry, the appreciation of the euro and the increasing dependency on imports of energy and manufactured products.

What is France’s balance of trade?

France trade balance for 2020 was $-57.65B, a 116.77% increase from 2019. France trade balance for 2019 was $-26.59B, a 8.36% decline from 2018. France trade balance for 2018 was $-29.02B, a 5.03% increase from 2017.

What country is number one in trade deficit?

Year-to-Date Deficits

Rank Country Deficit
1 China -286.8
2 Mexico -88.2
3 Vietnam -73.9
4 Germany -57.5
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What is the deficit in France?

The 2021 budget deficit will be 8.1% of economic output, instead of 8.4% previously forecast, Le Maire said.

What is France known for exporting?

France exports essentially aircrafts, vehicles, pharmaceutical products, food products (wine), hydrocarbons and electronic components. The country imports many consumer goods, vehicles, hydrocarbons and pharmaceutical products.

What does France import?

France imports mainly mechanical equipment, electronic and computer equipment (21 percent of total imports); transport equipment (19 percent), of which aeronautics (11 percent) and automobile industry (7 percent); chemicals, perfumes, cosmetics (8 percent); agro-food industry products (8 percent); metallurgical and …

How do France make money?

France’s diversified economy is led by tourism, manufacturing, and pharmaceuticals. The government has partially or fully privatized many large companies but maintains a strong presence in such sectors as power, public transport, and defense.

What does France import the most?

France’s Top Imports

  • Crude petroleum – $23.3 billion.
  • Refined petroleum – $20.4 billion.
  • Petroleum gas – $17.3 billion.
  • Coffee – $2.07 billion.
  • Hot-rolled iron – $2.01 billion.

Does France have a current account surplus?

France’s current account deficit widened to EUR 2.7 billion in September of 2021, from EUR 1.4 billion in the previous month, as the goods shortfall increased to EUR 6.6 billion from EUR 5.4 billion in August, while the services surplus remained broadly unchanged at EUR 3.7 billion.

What is the unemployment rate in France?

The unemployment rate edged up to 8.1% in the third quarter – the same rate seen at the end of 2019 – up from 8.0% in the previous three months, the INSEE statistics agency said. Analysts polled by Reuters had forecast an unemployment rate of 7.8% for the third quarter.

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Do any countries not have a deficit?

Sure, there are several. Currently, the surplus countries are Iceland, Norway, Luxembourg, Singapore, Switzerland, Germany and New Zealand. Hong Kong runs a zero budget deficit. Estonia, Sweden and Czech Republic have a deficit of less than 0.5% of GDP.

Who is China’s biggest trade partner?

Mainland China’s 100 major trade partners account for $2.551 trillion or 98.5% of all exported goods consumed by trade partners that import from the People’s Republic.

Searchable Datalist of Countries Consuming China’s Exports.

Rank 1.
Importer United States
Exports from China (US$) $452,576,771,000
2019-20 +8.1%

Who are the 3 biggest US trade partners?

China, Canada and Mexico are the country’s largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports. But this landscape could be reshaped as President Trump pursues “America First” policies and reworks free trade deals. U.K.