Since the start of 2024, France has shown remarkable commercial results. It has its trade deficit which is reduced consecutively over the months. Indeed, this performance testifies to the strength of the French economy. Let's find out what is explained by an increase in exports and a decline in imports.
French economy: Increase in exports and decrease in imports
First of all, French exports increased by 100 million euros in February 2024! Reaching a total of 50.3 billion euros. At the same time, imports fell by 100 million euros, reaching 56.3 billion euros.
This favorable dynamic made it possible to reduce the trade deficit by 200 million euros over one month! Bringing it down to 6 billion euros. In addition, the January deficit figure was revised downwards, from 6.9 billion euros to 6.2 billion euros. Thus, France has had five months of successive improvements in its economic indicator, a remarkable performance.
Energy bill reduction
Then, France's energy bill fell by 100 million euros in February 2024, although the balance of trade in energy goods remains largely in deficit, at 4 billion euros. This reduction in the energy bill contributed to the reduction of the overall trade deficit. In addition, the deficit on exchanges of goods intermediaries also fell by 100 million euros in February, to stand at 1.3 billion euros.
However, the balance of capital goods deteriorated by 100 million euros, reaching 3.1 billion euros. Despite this slight deterioration, the surplus recorded by France on consumer goods remained at 700 million euros on the economy, a level not seen since the 2000s.
In short, the French economy displays remarkable commercial performance in 2024. The reduction in the trade deficit, driven by the increase in exports and the drop in imports, testifies to the strength of the French economy. This positive momentum is reinforced by a reduction in the energy bill, although the balance of trade in energy goods remains in deficit. Thus, France continues its economic recovery trajectory, offering encouraging prospects for the future.
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