The trade balance fell by 2.5 billion euros between 2018, the year taken as a reference before Brexit and the Covid crisis, and 2023, to stand at 9.6 billion euros.
The trade surplus with the United Kingdom remained the first trade surplus recorded by France in the world, in 2018 and in 2023.
The exit of the United Kingdom from the European Union (EU) on January 31, 2020, then from the customs territory the following year, forced most European companies importing British products to pay customs duties.
As a result, many goods cross the Channel to be “cleared” in France before being re-exported to another EU country. This is what experts call “quasi-transit import flows”.
Artificial increase in imports
“The appearance of these quasi-transit trade flows, unaccounted for before Brexit, increases imports originating in the United Kingdom, and can explain most of the deterioration in the balance,” estimates the report.
Of all traded products, imports (+5.5 billion euros) increased faster than exports (+3.0 billion euros).
This “hub” effect of France, combined with the “dynamism” of imports of British lamb, salmon and cheddar, has particularly weighed on the balance of the agri-food industries, the study supports.
The balance of manufactured products also suffered, weighed down by French exports of jewelry and jewelry at half mast.
On the other hand, the transport equipment sectors – mainly aeronautics and automobiles – and machinery have survived, driven by French sales of planes, turbojets, cars and trucks.
Trade outside the EU
These developments take place in a context where London has redirected its trade towards countries outside the EU.
“Overall foreign trade has lost intensity between the United Kingdom on the one hand and the European Union (EU) on the other. Since Brexit, the United Kingdom has become more focused on the rest of the world,” the report describes.
