France’s trade deficit reached a record high last year

France suffered its highest trade deficit in its history last year due to rising energy prices, heavy imports due to a strong economic recovery and the country’s deindustrialization. The deficit in 2021 was €84.7 billion, well above the previous record of €75 billion ten years ago, according to the authorities. The deterioration of the deficit is mainly explained by the outstanding increase in imports, which was 18.8 percent after a 13 percent decrease in 2020, while exports increased by 17 percent last year after a 15.8 percent decline in 2020.