Data revealed by the Ministry of Foreign Trade of France yesterday that the country’s trade deficit increased to a record 69.59 billion euros «no 91.39 billion dollars», an increase of 35% for the year 2010. The value of French imports by 11.7% to reach 498.39 billion euros. And has grown its exports over imports, which fell at a slower pace for years, a rate of 8.6% to $ 428.8 billion euros.
The Minister of Foreign Trade, the French Pierre Okoth, who has sought to reduce the size of the deficit for the newspaper “Ovqua”: It’s not as bad as expected. The government estimated last year that the deficit will reach 75 billion euros, but the Bkhvdah to 70 billion euros mid-January.
She explained that the Ministry of Commerce jump imports was the result of increased costs of raw materials, mainly of a jump in oil prices. And mainly thanks to increased exports of food and beverages, luxury goods. The data confirmed the decline in France as an exporter of the country with a declining share in world trade by about half over the past two decades, from 6.2% in 1990 to 3.6% in 2011.
It is the few sectors that are still contested by France, food and beverages, luxury goods and aviation equipment. And became the country’s “Reno” and “Citroen” now imported cars. And exports grew to almost all regions, including the European Union and the United States and the Middle East, Africa and Asia at a slower pace in 2011 compared to 2010.
The total trade deficit of France with Germany’s largest trading partner 0.16500000000 euros, up from 15.9 billion euros in 2010. Also recorded a deficit with smaller economies such as Italy and Belgium. And blamed French President Nicolas Sarkozy blamed the lack of competitiveness of France in the high cost of labor.
Declared Sarkozy, who is running the presidential elections in April for action to “improve and increase the industrial activity in France.” The French President announced last month a number of measures aimed at making labor cheaper and more flexible. These actions include increasing controversial by 1.6 point in the sales tax to finance social security contributions fall to employers.