Home / Knowledge / News / Textiles / France's trade balance for goods improves

France's trade balance for goods improves

14
Feb '20
Pic: Shutterstock
Pic: Shutterstock
France’s trade balance for goods improved for the first time since 2015, with a deficit of €58.9 billion, after €62.8 billion in 2018, thanks to an increase in exports (up 3.3 per cent to €508 billion) that was more marked than for imports (up 2.2 per cent to €566.9 billion), French minister of state Jean-Baptiste Lemoyne announced recently.

The nation’s trade balance improved compared to all the world’s major regions except Asia.

France’s foreign trade showed good resilience in an unfavourable international environment marked by high trade tensions, a rise in protectionism and lacklustre global trade. This resilience is remarkable by comparison with other European countries, said a press release from France’s ministry of European and foreign affairs.

The non-energy goods trade deficit fell from €32 billion in 2018 to €29.1 billion in 2019, thanks in particular to good performance in exports of pharmaceutical products (up 10.4 per cent to €33.6 billion), textile products and clothing (up 8.5 per cent to €28.5 billion), and agricultural and agrifood products (up 3.2 per cent to €64.4 billion).

The luxury industries also continued to support France’s foreign trade, with a 9 per cent rise in exports to €55.9 billion.

As for the current balance–a measure of France’s need for foreign finance– it remained relatively stable and comparable to that of 2018, down 0.8 per cent of gross domestic product in 2019, according to the latest estimates from the Banque de France.

According to the trends observed in the first three quarters of 2019, the growth in French goods exports in 2019 was greater than that in German, British, Italian, Dutch and Spanish exports. France’s market share in global trade has stabilized since 2012, at 3.1 per cent in goods and 3.5 per cent in goods and services, keeping France in fifth place in the world in terms of exports of goods and services.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic:  TonelsonProductions / Shutterstock.com

Apparel/Garments | On 16th Apr 2021

CPTPP boosts Vietnam's exports, pandemic a mild dampener

Vietnam's exports to its partners in the Comprehensive and...

Pic: Smartwool

Apparel/Garments | On 16th Apr 2021

US merino wool apparel maker Smartwool to go 100% circular by 2030

Smartwool, a Denver, US-based maker of merino wool apparel for active ...

Pic: Steve Madden

Apparel/Garments | On 16th Apr 2021

US company Steve Madden acquires remaining share of European JV

Steve Madden Ltd, a leading designer and marketer of fashion-forward...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

P V Kadole,

P V Kadole

Nine co-operative organisations from Ichalkaranji came together to form an ...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search