France’s trade deficit beats a historic record, aloudred by the energy bill. So far, the most important trade deficit was recorded in 2011, with 75 billion euros.
Le Monde with AFP
France has recorded in 2021 the worst trade deficit in its history, at 84.7 billion euros, reported Tuesday 8 February the customs. The balance of trade is mainly high “by energy and, to a lesser extent, by manufactured goods”, specify customs in their communiqué.
The aggravation of the deficit can be explained by “a stronger rebound of imports (+ 18.8% after – 13% in 2020) than exports (+ 17% after – 15.8%), explains this same source. So far, the most important trade deficit was recorded in 2011, with 75 billion euros.
“Increased energy bill”
The Minister of Foreign Trade, Franck Riester, estimated at a press point that “it is important to look at the table of our commercial activity” pointing in particular a “record surplus of services, to 36.2 billion euros “. “With regard to the balance of property, degradation is mainly due to the increase in the energy bill of 17.9 billion euros,” he said again.
In addition, “strong export sectors are still below their 2019 level,” as the aeronautics, which has only returned to 57% of its level before the health crisis, points the minister. Finally, the deficit can be explained by the strength of the recovery while the French economy recorded a growth of 7% last year, which “has influenced imports of consumer goods, industrial tools produced at the foreign “, according to Mr. Riester.