Below is a list showcasing 15 of France’s top trading partners, countries that imported the most French shipments by dollar value during 2020. Also shown is each importing country’s percentage of total French exports.

1. Germany: US$69.1 billion (14.5% of total French exports)
2. United States: $37 billion (7.8%)
3. Italy: $36.8 billion (7.7%)
4. Spain: $35.2 billion (7.4%)
5. Belgium: $35.2 billion (7.4%)
6. United Kingdom: $30.9 billion (6.5%)
7. China: $20.1 billion (4.2%)
8. Netherlands: $18.2 billion (3.8%)
9. Switzerland: $16.4 billion (3.4%)
10. Poland: $10.6 billion (2.2%)
11. Singapore: $8 billion (1.7%)
12. Turkey: $7.2 billion (1.5%)
13. Japan: $6.4 billion (1.4%)
14. Hong Kong: $5.93 billion (1.2%)
15. Russia: $5.88 billion (1.2%)

Approaching three-quarters (72%) of French exports in 2020 were delivered to the above 15 trade partners.

The sole increase from 2019 to 2020 belongs to Turkey via an 8.6% increase.

Leading the year-over-year decliners were Japan (down -25.5%), United States (down -21.4%) then United Kingdom (down -18%).

Overall, France’s incurred a -$93.1 billion trade deficit in 2020 swelling by 12.4% from -$82.8 billion in red ink one year earlier in 2019.

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.

1. China: -US$44.4 billion (country-specific trade deficit in 2020)
2. Germany: -$12.3 billion
3. Italy: -$7.8 billion
4. Netherlands: -$7.7 billion
5. Spain: -$5.2 billion
6. France: -$5.1 billion
7. Vietnam: -$5.1 billion
8. Ireland: -$4.7 billion
9. Japan: -$3.2 billion
10. Czech Republic: -$2.8 billion

Among France’s trading partners that cause the greatest negative trade balances, France’s deficits with China (up 25.7%), Italy (up 21.5%) and Vietnam (up 12.6%) grew at the fastest pace from 2019 to 2020. France’s trade balance with Spain went from a $226.2 million surplus for 2019 to a -$5.2 billion deficit in 2020.

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.

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 2020, France incurred the highest trade surpluses with the following countries.

1. United Kingdom: US$11.4 billion (country-specific trade surplus in 2020)
2. Singapore: $5.6 billion
3. Hong Kong: $5.3 billion
4. United Arab Emirates: $2.8 billion
5. Australia: $2.2 billion
6. United States: $1.8 billion
7. Algeria: $1.7 billion
8. Egypt: $1.6 billion
9. Switzerland: $1.5 billion
10. Qatar: $1.2 billion

Among France’s trading partners that generate the greatest positive trade balances, France’s surpluses with Algeria (up 112.3%), United Arab Emirates (up 42.8%) and Australia (up 31%) grew from 2019 to 2020.

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.

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:

• Total (oil, gas)
• Sanofi (pharmaceuticals)
• EADS (aerospace)
• Christian Dior (clothing, accessories)
• Schneider Electric (electrical equipment)
• Danone (food processing)
• Renault (cars, trucks)
• Saint-Gobain (construction materials)
• Air Liquide (specialized chemicals)
• Safran (aerospace)
• Michelin Group (automotive parts)
• Pernod Ricard (beverages)