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Nicolas Baverez: “The bankruptcy of foreign trade”


CHRONICLE - To reconstitute an efficient productive apparatus, everything must be rethought from the point of view of production, investment and innovation and not of consumption.

In 2022, France's trade balance recorded a historic deficit of 164 billion euros, or nearly 7% of GDP.

It is up 93% compared to 2021, when the deficit stood at 85 billion euros.

The balance of services shows a surplus of 50 billion euros thanks to the excellent performance of tourism, maritime freight and financial services, which does not, however, allow our country's trade to be rebalanced.

The first reason for the descent into a tailspin of the trade balance in 2022 lies in the shock on energy, whose bill rose from 45 to 115 billion euros, due to the explosion of prices and imports of electricity.

Energy, however, only explains 40% of the fall since pre-Covid.

Over the medium period, the first factor of deterioration is to be found in the decline in exports and France's world market share, which have fallen from 5.5% to 2.5% since the start of the 21st century.

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Source: lefigaro

All news articles on 2023-02-12

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