France exported US$634.3 billion worth of products around the world in 2023. That dollar amount results from a 14% upturn from $556.6 billion in 2019.
Year over year, the overall value of goods exported from France expanded by 4.5% compared to $606.9 billion one year earlier during 2022.
The 5 biggest importers of products exported by France are Germany, Italy, Belgium, Spain and United States of America. Collectively, that quintet of major international customers paid for over half (52%) of France’s total export sales in 2023.
Applying a continental lens, about two-thirds (66.8%) of France’s exports by value was delivered to fellow European countries while 17.1% was sold to importers located in Asia. France shipped another 8.8% worth of products to North America.
Smaller percentages went to customers in Africa (4.6%), Latin America (1.6%) excluding Mexico but including the Caribbean, then Oceania (1%) led by Australia.
In addition, note that 55.9% of France’s exports sold in 2023 were bought by fellow members of the European Union one of the world’s most powerful economic entities.
France’s Top Trading Partners
Below is a list showcasing 25 of France’s top trading partners, countries that imported the most French shipments by dollar value during 2023. Also shown is each importing country’s percentage of total French exports.
- Germany: US$86.7 billion (13.7% of total French exports)
- Italy: $56.6 billion (8.9%)
- Belgium: $51.6 billion (8.1%)
- Spain: $48.1 billion (7.6%)
- United States: $47.5 billion (7.5%)
- United Kingdom: $39.2 billion (6.2%)
- mainland China: $27 billion (4.3%)
- Netherlands: $24.5 billion (3.9%)
- Switzerland: $22.2 billion (3.5%)
- Poland: $15.6 billion (2.5%)
- Türkiye: $12.8 billion (2%)
- Singapore: $10.6 billion (1.7%)
- Ireland: $7.9 billion (1.2%)
- India: $7.6 billion (1.2%)
- Portugal: $7.5 billion (1.2%)
- Japan: $7.2 billion (1.1%)
- Sweden: $6.9 billion (1.1%)
- Morocco: $6.8 billion (1.1%)
- Czech Republic: $6.7 billion (1.1%)
- South Korea: $6.5 billion (1%)
- Austria: $5.79 billion (0.9%)
- Hong Kong: $5.79 billion (0.9%)
- Romania: $5.6 billion (0.9%)
- United Arab Emirates: $5.4 billion (0.8%)
- Algeria: $4.8 billion (0.8%)
Over four-fifths (83.1%) of French exports in 2023 was delivered to the above 25 trade partners.
The greatest increases in importing France’s shipments belong to Türkiye (up 31% from 2022), India (up 22.1%), United Arab Emirates (up 14.4%), Ireland (up 14.2%), then Singapore (up 12.9%).
Posting percentage declines were customers in the Netherlands (down -3.9% from 2022), United States of America (down -3.3%) and Italy (down -0.6%).
Countries Causing France’s Worst Trade Deficits
France recorded an overall -US$140.6 billion trade deficit in 2023, reducing by -31.6% from -$205.5 billion in red ink one year earlier in 2022.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, a given export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
France incurred the highest trade deficits with the following countries.
- mainland China: -US$50 billion (country-specific trade deficit in 2023)
- Belgium: -$13.6 billion
- Germany: -$10.9 billion
- Netherlands: -$9.2 billion
- United States of America: -$8.6 billion
- France: -$6.8 billion
- Spain: -$6.1 billion
- Vietnam: -$5.7 billion
- South Korea: -$4.14 billion
- Nigeria: -$4.1 billion
Among France’s trading partners that cause the greatest negative trade balances, French deficits with South Korea (up 137.5%) and the Netherlands (up 6.8%) grew from 2022 to 2023.
In addition, France went from earning a billion-dollar surplus trading with the United States of America to posting the trade deficit listed above.
These cashflow deficiencies clearly indicate France’s competitive disadvantages with the above countries, but also represent key opportunities for France to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating France’s Best Trade Surpluses
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
In 2023, France incurred the highest trade surpluses with the following countries.
- United Kingdom: US$11 billion (country-specific trade surplus in 2023)
- Singapore: $8.1 billion
- Hong Kong: $5.2 billion
- Switzerland: $3.7 billion
- Greece: $3 billion
- United Arab Emirates: $2.89 billion
- Australia: $1.9 billion
- Luxembourg: $1.2 billion
- Senegal: $1 billion
- New Caledonia: $909.7 million
Among France’s trading partners that generate the greatest positive trade balances, French surpluses with the United Kingdom (up 110.3%), Australia (up 72.8%) and Switzerland (up 28.8%) grew at the fastest pace from 2022 to 2023.
These positive cashflow streams clearly indicate France’s competitive advantages with the above countries, but also represent key opportunities for France to develop country-specific strategies to optimize its overall position in international trade.
Examples of French Companies Servicing Trading Partners
France placed 69 companies in the Forbes Global 2000 rankings. Below is a sample of the major French companies that Forbes included.
- Air Liquide (specialized chemicals)
- Christian Dior (clothing, accessories)
- Danone (food processing)
- EADS (aerospace)
- Michelin Group (automotive parts)
- Pernod Ricard (beverages)
- Renault (cars, trucks)
- Safran (aerospace)
- Saint-Gobain (construction materials)
- Sanofi (pharmaceuticals)
- Schneider Electric (electrical equipment)
- Total (oil, gas)
See also France’s Top 10 Major Export Companies, France’s Top 10 Imports and France’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 13, 2024
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 13, 2024
International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on April 13, 2024
International Trade Centre, Trade Map. Accessed on April 13, 2024
Investopedia, Net Exports Definition. Accessed on April 13, 2024
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on April 13, 2024
Wikopedia, List of Companies of France. Accessed on April 13, 2024