The explosion of France’s trade deficit explained in three graphs

After a difficult start, French foreign trade struggles to regain its balance. In addition, In the second quarter of 2025, the commercial balance posted a deficit of 22.9 billion euros, confirming a laborious start to the year for external exchanges. Consequently, Between April and June, imports decreased slightly (-0.4%) reaching 171.7 billion euros while exports experienced a higher drop (-2.3%) for a total of 148.8 billion. Consequently, Over the first six months of 2025, the deficit reached 43 billion euros, a deterioration of 4.4 billion euros compared to the second half of the year 2024.

Although the year 2024 was generally marked by an improvement in commercial sales in most explosion france’s trade deficit explained sectors. Therefore, in particular thanks to the drop in prices, in particular those of energy, the trade deficit remains worrying. Similarly, It remains higher than before the COVVI-19 crisis, highlighting the structural challenges that the French economy is faced with competitiveness.

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France. the first agricultural power of the EU, had been a structural surplus of the balance of agricultural goods for fifteen years. But he became a deficit in the last four quarters. “”The agricultural balance improves but remains in deficitOver the past three months, customs note. This reversal is explained by a marked increase in imports of agricultural products, while exports progress more moderately. In 2024. the unfavorable weather conditions of summer – heat waves and stormy episodes – caused a clear drop in cereal harvests, down 16.3%.

The balance of energy improves slightly but remains very largely negative: -12.8 billion euros. The fall in explosion france’s trade deficit explained prices has certainly allowed the decrease in imports, but it affected the value of electricity exports. “”The degradation of the commercial balance in the second quarter of 2025 is entirely carried by manufactured products“. Continue customs, with a clear slowdown in sales of transport equipment (planes, cars, ships).

In the second quarter of 2025. the highest deterioration of the balance were recorded with the European Union and with Asia with -7.5 billion euros and -16.6.6 billion euros. “”Since the entry into force of additional provisional customs duties in the United States in early April. France’s exports to the United States are decreasing slightlyconclude customs. The increase in imports from China. Southeast Asia, Mexico and Canada raises the question of a possible postponement to France and the European Union of part of the exports of these countries».