Importing and Exporting in France
Importing and Exporting in FranceUpdated on Monday 18th April 2016
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After Germany, France is the second largest country involved in trading activities in Europe. Its main trading partners are in the European Union. France is also a member of the World Trade Organization, of the Organization for Economic Co-operation and Development (OECD) and of the European Union which makes France one of the most powerful economies in the world.
Exports in France
France’s economy is based on exports and aircraft parts represent almost 7% of the country’s total exports. The second place is occupied by pharmaceuticals that represent over 5% of France’s total exports. Cars and cars spare parts also occupy one of the top spots in the country’s exports and represent more than 4%, while refined petroleum represents about 3% on the French export list.
France also exports wine and beauty products in smaller but significant amounts. In smaller percentages, France exports cereals, integrated circuits and protection equipment. The main partners France trades with are: Germany that imports almost 15% of the country’s exports, followed by Belgium with 8% and Italy with almost 8% as well. France sends to the United Kingdom and Spain almost 7% of its total exports. Among other countries France exports to, there are also China, the United States, Russia, Japan and Turkey.
Imports in France
When it comes to imports, the first place on France’s import list are crude and refined petroleum that represent around 12%. Cars and cars spare parts represent about 5% of the country’s imports, while pharmaceutical products occupy the third place with 3%.
France also imports aircraft parts in proportion of 2.5%. In smaller amounts, France imports computers and medical devices. The country France imports the most from is Germany that supplies around 19% of the country’s products. The second place as France’s suppliers of imported products is occupied by China with almost 8%, followed by Italy with 7%, Spain and Belgium with 6%. France also imports from: the United States, the Netherlands and the United Kingdom, but also from Russia, Japan and Turkey.
The French economy
France’s economy is one of the strongest in the world and it was ranked 13th with an economic complexity index (ECI) of 1.4572. France occupies a leading role in the automobile and aerospace sectors and it is a top exporter of luxury cosmetics and wine. France is also known for its tourism facilities. It is also the home of some of the most famous corporations in the world in areas like insurance and retail. France is one of the countries that encourage foreign direct investments in order to constantly enhance its economy.