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French foreign trade still in a complicated situation

2020-11-06T09:47:35.492Z


Customs announced this Friday a stabilization of the trade deficit in the 3rd quarter "at a historically low level, - 20.5 billion euros".


We can hear it now on all radio stations: the government has launched a communication campaign to encourage exporting companies to call on the measures of the recovery plan which are specifically dedicated to them.

He knows how complicated the period is for them too.

The figures published this Friday morning by Customs confirm this, if it was still needed.

In the third quarter of 2020, if trade resumed sharply after the end of containment and restrictive measures aimed at stemming the Covid-19 health crisis, they did not however return to pre-crisis levels.

And only allowed the stabilization of the French trade deficit, at 20.5 billion euros - the rebound of 29.4% of exports (driven by the automotive sector) having been largely offset by an increase of 23.7 % of imports of manufactured goods.

In the second quarter, the trade deficit had reached 20.4 billion euros, a level unprecedented since the first quarter of 2011. According to Bercy, it should reach the record of 79 billion euros at the end of the year.

The previous poor performance also dates from 2011, the hole having widened by 74.5 billion.

“Opening up to the international market remains an opportunity and a lever for growth.

The export component of the recovery plan responds directly to the concrete needs of exporting companies, as well as those who wish to become, ”

insists Business France, the public agency responsible for the internationalization of the economy.

"An export check"

Things obviously didn't get any easier with the announcement of the 2nd confinement last week.

But exporting companies always have a panel of help at their disposal if they want to try to return to normal activity as best they can.

To be constantly informed of what is happening abroad and to have information on the state of the markets adapted to their profile, they will be able to access a digital platform of Team France export.

In addition to being able to benefit from “classic” aid (Solidarity Fund, State guaranteed loans, etc.), they have also benefited for a few weeks from the State taking charge of some of their costs.

An “export check” will reimburse up to 50% of prospecting services (participation in an international trade fair, purchase of a support service, etc.).

A “VIE voucher” in the amount of 5,000 euros may also be granted to small and medium-sized enterprises that send a young person abroad, from next January.

The plan also provides for strengthening export financing tools.

In total, 247 million are devoted to exporting companies.

It remains to be seen whether these measures will be sufficient to encourage them in the current complicated context ...

Source: lefigaro

All news articles on 2020-11-06

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