World in turnmoil, growth losing steam Economic Outlook - march 2025
Foreign trade
In Q4 2024, exports grew at the same pace as imports (+0.4%), resulting in a zero contribution by foreign trade to GDP growth over the quarter. This increase was driven by the dynamism of sales of manufactured products (+1.9% after -2.1%), with a surge of shipments of certain products in December in anticipation of increased customs duties, whereas exports of services declined as a reaction to the recording of ticketing and audiovisual broadcasting revenue from the Paris Olympic and Paralympic Games in Q3. On the import side, purchases of manufactured products fell once again (-0.6% after -0.3%), but energy supplies soared (+5.9% in Q4) as did those of agricultural products (+6.6%), with the increase in the production of coke and refined petroleum and poor harvests in France 2024. Across the year as a whole, the contribution of foreign trade to GDP growth was positive (+0.9 percentage points on annual growth). However, this boost stems more from the decline in imports (-1.4%) as a result of sluggish domestic demand and destocking by companies, than any buoyancy in exports, which increased only slightly (+1.1%), at a similar pace to demand for French goods (+1.3%)...
Conjoncture in France
Paru le :21/03/2025