France's trade deficit widened sharply in 2020
View of the industrial port area of Le Havre (illustrative image).
Getty Images - Thierry Dosogne
Text by: RFI Follow
2 min
The pandemic sharply widened France's trade deficit in 2020. French exports were particularly reduced in the aeronautics and automotive sectors.
Publicity
Read more
According to customs figures, France's trade deficit widened in 2020 by more than 65 billion euros, an increase of 7.3 billion euros more than in 2019. This is its level. the highest since 2012. Main reason: the drop in exports, especially in the aeronautics and automotive sectors.
In fact, the restrictive measures linked to the health crisis have reduced travel and have almost
brought air transport to a
halt
.
The deficit is also increased because of the massive imports of protective masks which cost nearly 6 billion euros last year.
On the export side, only sales of pharmaceutical products rose sharply to reach the historic record of 35.5 billion euros.
The government hopes the situation will improve this year.
The executive is banking on the effects of the export stimulus plan put in place last year to encourage French exporters.
It also relies on the sectoral support plans underway for aeronautics, the automobile industry and tourism.
► See also: Automobile: the French market is declining sharply, the sale of clean cars on the rise
Newsletter
Receive all the international news directly in your mailbox
I subscribe
Follow all the international news by downloading the RFI application
google-play-badge_FR
France
Aeronautics
Automotive
Trade and Trade
Coronavirus
On the same subject
Reportage
Covid-19: subcontractors in the aeronautics sector are at the end of their rope
Air France: 2.6 billion euros loss in the second quarter, the State reaffirms its support