France has registered a record trade deficit in 2021, about EUR 85 bn. Oil prices were the main trigger of the deterioration compared to 2020. However, in the medium run, the main structural evolution is the deepening of the deficit on industrial goods: by about EUR 25bn during the last 10 years to 50bn in 2021. In 2022, the trade deficit should reach EUR 100 bn: a sizeable burden on French’s purchasing power.
