France’s trade balance is active, exports exceed imports, but the growth rate of imports exceeds the growth rate of exports. The share of exports in GDP in 2000 was 23.5%. France is the world’s fourth largest exporter and importer of goods. Commodity exports in 2000 amounted to $307 billion. – 5.7 world exports; commodity imports – USD 287.2 billion. – 5.2 world imports. As for services, the total volume of their exports in 2000 exceeded 78.6 billion dollars. (6.1% of the world), and imports – $ 62.8 billion. (4,9%). The trade balance is positive, its balance in 2000 amounted to 35.6 billion dollars.
About 1/7 of its national product is exported. Industry accounts for about 4/5 of national exports of goods and services.
The country’s foreign trade is characterized by the following features:
– trade with a relatively small group of countries, primarily with the EU countries;
– in trade in industrial goods with economically developed countries (Japan, USA) the trade balance is passive;
– low level of commodity diversification;
– quite high dependence on imports of fuel and raw materials.
Thus, the main sphere of application of French capital is the countries of Western Europe, especially Belgium, Luxembourg, Germany and Switzerland, as well as African countries. The importance of exports to OPEC and Latin America is growing.
The penetration of foreign capital into France is greatest from the EU countries and the United States. The French government actively and purposefully stimulates the inflow of foreign capital into the country’s industrial enterprises, especially if these investments are accompanied by the import of advanced foreign technology, the expansion of exports, the creation of new jobs, and the acceleration of the development of backward regions of the country. The country ranks third in terms of American investment after the UK and Germany.
The commodity composition of French exports is very diverse. This testifies not only to the versatility of its economy, but also to the relatively weak specialization of the country in the international division of labor, especially in comparison with Germany and Great Britain. In France’s exports, the share of food and industrial raw materials is higher than in the exports of Germany and great Britain, and the share of finished products (industrial equipment, machinery) is lower.
The commodity structure of the country’s exports is dominated by transport engineering (cars, airplanes, helicopters, locomotives), weapons, equipment for nuclear power plants, space technology, electrical engineering, steel and aluminum, fabrics and clothing. Thanks to the successful development of nuclear energy, France ranks first in the region among exporters of electricity. At the same time, the share of high-tech and high-tech goods in the country’s exports is lower than in the exports of the United States, Japan and Germany. In terms of the value of exports of agricultural products and food products, France is second only to the United States. It is a world leader in the export of alcoholic beverages, grain, dairy products, sugar, etc. and at the same time a major buyer of cheap wines from Mediterranean countries.
France’s imports exceed 50% of the production volume of such important branches of modern industry as basic chemistry, production of electrical and electronic equipment; about 60 per cent of imports come from capital goods. Huge oil imports are the main reason for the trade deficit.
Coffee, cocoa, tea and other tropical agricultural products are also imported.
Many French products are of high quality and novelty, but not all of them can withstand the competition of foreign products even in the domestic market, so about 1/3 of those sold in the country
goods – imported.
After the Second World War, the geography of France’s foreign trade changed greatly. The share of trade with former colonies – the countries of the “franc zone” – has slightly decreased, but trade relations with the EU countries (more than 60%), the United States and OPEC countries have grown. The main trading partner of France is Germany (20% of foreign trade turnover), then Italy, Belgium, Luxembourg.
In the service sector, there is a significant excess of exports over imports. In terms of exports of services, France is in second place in the world after the United States.