Posted Nov 28, 2022, 8:22 AMUpdated Nov. 28, 2022, 9:42 a.m.
French exporters are in good shape. According to the latest report drawn up by Business France, French exports of goods reached 439 billion euros over the first three quarters of the year. That’s a 20% increase over one year. Exports thus confirm the post-pandemic rebound that began last year . In 2021, they had jumped 17%, to 501 billion euros. Growth which then accelerated at the start of 2022, specifies Business France.
During the first three quarters of the year, all export sectors saw their exports increase in value, compared to their pre-health crisis level over the same period in 2019. The traditional export sectors, in particular, “ consolidate their level of exports”, notes Business France. This is particularly the case for agrifood and the agricultural sector (+28%), textiles (+30%), and pharmaceuticals, chemicals, perfumes and cosmetics (+24%).
Another encouraging fact: this growth was accompanied by an increase in the number of exporters to 139,400. The highest level for twenty years, welcomes Business France.
Historical trade deficit
At the beginning of November, Customs had already confirmed the encouraging dynamic of French exports. They highlighted in particular the good performance of sales of mechanical, electronic and computer equipment and of automobiles. And noted a “strong rebound in aeronautical exports” and agricultural exports to “a record level since 2009”.
However, these exports are not enough to fill the hexagonal trade deficit which continues to widen, weighed down by the energy bill. The figures are expected to be historically bad this year, with a negative balance expected at 156 billion euros, according to the documents of the finance bill for 2023.
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