The French economy has been showing strong trade results since the beginning of 2024. The trade deficit of France has been consistently decreasing, indicating the country's economic strength. This reduction is attributed to an increase in exports and a decline in imports.
French exports saw a significant increase of 100 million euros in February 2024, totaling 50.3 billion euros. At the same time, imports decreased by 100 million euros, reaching 56.3 billion euros.
As a result of this positive trend, the trade deficit was reduced by 200 million euros in just one month, now standing at 6 billion euros. Additionally, the deficit from January was revised down from 6.9 billion euros to 6.2 billion euros, marking five consecutive months of economic improvement.
Moreover, the energy bill of France decreased by 100 million euros in February 2024, despite a significant deficit of 4 billion euros in the balance of energy goods trade. This reduction in the energy bill contributed to the overall decrease in the trade deficit. The deficit on intermediate goods trade also decreased by 100 million euros to 1.3 billion euros.
Although there was a slight worsening in the balance of investment goods by 100 million euros, reaching 3.1 billion euros, France maintained a surplus of 700 million euros on consumer goods, the highest level since the 2000s.
In conclusion, France continues to display impressive trade performance in 2024, driven by increased exports and decreased imports. The reduction in the trade deficit showcases the resilience of the French economy. Despite the energy goods trade deficit, the country is on a path of economic recovery with promising prospects for the future.
