France Trade Statistics 2020: Where Does Economic Growth Lie? We Investigate

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France Economy Overview

France is the 6th largest economy in the world and it has the 2nd largest economy in the Eurozone after Germany.

With the latest numbers showing total annual exports of $563 billion and imports of $657 billion, France has a negative trade balance of -$93.9 billion.

This guide provides an overview of France’s economy, including the country’s primary imports and exports.

France’s Top Exports

Here is a breakdown of the most important products exported by France, both commodities and other notable exports.

Commodity Exports

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Other Notable Exports

  • Planes, helicopters, and/or spacecraft – $43.8 billion
  • Cars – $26 billion
  • Packaged medicaments – $25.7 billion
  • Vehicle parts – $16.5 billion
  • Gas turbines – $14.4 billion
  • Wine – $11.1 billion

A recovery in France’s export performance since the global financial crisis in 2008 has mainly been driven by the transportation industry. Even so, the country’s export numbers have decreased in the last five reported years, from $581 billion in 2013 to $563 billion in 2018.

France’s Top Imports

Here is a breakdown of the most important products imported by France, both commodities and other notable imports.

Commodity Imports

  • Crude petroleum – $23.3 billion
  • Refined petroleum – $20.4 billion
  • Petroleum gas – $17.3 billion
  • Coffee – $2.07 billion
  • Hot-rolled iron – $2.01 billion

Other Notable Imports

  • Cars – $40.1 billion
  • Aircraft parts – $16.3 billion
  • Vehicle parts – $16.4 billion
  • Packaged medicaments – $15.1 billion
  • Broadcasting equipment – $8.89 billion

GDP of France

The latest data puts France’s GDP at $2.78 trillion, which makes it the world’s 6th largest economy in terms of GDP. The country’s GDP per capita is $41.464.

Between 2008 and 2018, the French recorded a negative GDP growth rate of -4.83%. During the same period, the GDP per capita growth went down by -8.54%.

Details on France’s Imports/Exports

Wheat

The total annual value of the world wheat export market is $45.1 billion and France is the fourth-largest exporting country with a 9.47% market share.

Most wheat from France are destined for Algeria (28.1%), Belgium-Luxembourg (13.2%), and the Netherlands (11.8%)

Corn

France is currently the fifth-largest exporter of corn in the world and has a 4.87% share of the global market. Even so, corn exports only account for 0.3% of total exports from France.

The top three destinations for French corn are Spain (20.9%), Germany (18.2%), and the Netherlands (12.7%).

Barley

The annual value of the global barley export market is $7.73 billion and France is the second-largest exporter with a 17.1% market share.

Australia and Russia are France’s main barley export rivals. Between these three countries, they have a 48.4% share of the global market.

France exports 22.8% of its barley to Belgium, followed by Saudi Arabia (17%), the Netherlands (14.9%), China (9.08%), and Germany (7.12%).

Did you know: The French love eating frogs legs but can’t produce enough to satisfy demand, which is why they import 4,000 tons of frogs legs from Indonesia.

Interesting Facts About France

  • France is the most popular tourist destination according to the World Tourism Organization, who says that more than 89.3 million people visit every year.
  • France became the first country in the world to ban supermarkets from throwing away unsold or waste food. Since 2016, they have had to donate it to food banks or charities.
  • The law states that no less than 40% of music broadcast on private radio stations in the country must be of French origin.
  • France produces more than one billion tons of cheese each year across 1,000 different varieties.

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Sources and Further Reading

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All currency is reported in US dollars.

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