France: an out-of-control trade deficit
Over the years, the rise of the French flagships in a few sectors on the world stage, foremost among which is luxury, has been accompanied by the disappearance of several industrial sectors.
This has led to a certain economic decline in our country, which has become increasingly dependent on the outside world.
The 2022 economic reports nevertheless highlight positive data, such as the record surplus of 50 billion euros in services and those recorded in industry, perfumes and cosmetics (15 billion euros), drinks (16 billion) and aeronautics (23.5 billion).
Insee points out that industrial production held up better than expected at the end of last year and could increase slightly in the first half of 2023.
The composite purchasing managers’ index has also improved this month, to 51.6 (49.1 in January).
But the French trade deficit has continued to widen. Last December, it rose to 15 billion euros, despite the fall in energy prices, reaching a record level of 163.8 billion for the whole year, i.e. almost double that of 2021 (85.8 billion euros).
Source : LeRevenue