A favour of a faster acceleration of imports 4

The Germany may yield its position as world's top exporter to China (see page 6), it remains a champion of trade whose evolution contrasts significantly with that of the France at the time where sounds a certain global recovery. Since a floor hit in July, the trade deficit of the France continues to grow, reaching EUR 5.3 billion in November, according to the data of customs published Friday. A favour of a faster acceleration of imports ( 4.6 a month) than exports ( 2.1), the monthly deficit is so close of its most senior in the fall of 2008.

At the same time, the Germany, on the contrary, increased its trade surplus to 17.2 billion in November, either a level never reached since June 2008. Exports resumed their colors ( 1.6), while imports into the Germany fold always clearly (-5,9), in connection with a low consumption of households.

Concentration on Aeronautics

The evolution of foreign trade of the France and the Germany - and its ability to take advantage of a resumption of global trade - may, in part, be understood through the evolution of the specializations to the export of the two countries. Since 2000, the Germany highly focused expertise in the automotive sector and in the manufacture of machines with a high content technology, disengages from low value added sectors, is the branch of the Treasury and economic policy (DGTPE) in a recent study. A choice that led to the first European economy to "consolidate its positions internationally, despite the rise in power of the large emerging countries such as China, in world trade".

The France did not follow the same path. conomistes de les Secteurs qu' Haute à part pour l' Aéronautique et les produits pharmaceutiques, la France a perdu des Avantages comparatifs Bercy de à pour les France sector economists that high except for Aeronautics and pharmaceutical products, the France lost comparative advantages Bercy de à pour les France Bercy de à pour les France of de à pour les France à à pour les France pour pour les France les les France France a économistes de les secteurs qu' haute à part pour l' aéronautique et les produits pharmaceutiques, la France a perdu des avantages comparatifs Bercy de à pour les France a des de de à pour les France des des de de à pour les France de de à pour les France de de de à pour les France de à pour les France de de à pour les France à à pour les France pour pour les France les les France France Despite the recent resumption of car sales related to premium case sensitive devices, automotive sector is a "very clear" decline of its weight in international trade since 2005. While he managed to become the first area of specialization of the France in 2004, he dropped to fourth in 2007, behind the mechanical, chemical and agri-food.

More finely looking things and detailing products, the rise of the mechanical sector is only to the credit of Aeronautics, which has gained much ground in recent years. Other side of the coin, "this concentration of Aeronautics benefits particularly exposes our exports to the evolution of the euro", warns the DGTPE. According to her, almost 70 of the flow of exports of this sector have was for markets outside the EU in 2007, while "our main competitor, Boeing, may rely on the decline of the dollar".

Another reason for concern, half of the exports of pharmaceutical products and beverages (following aeronautics in the strong points of the France) are outside Europe. The weakness of the dollar is "a significant problem", was held last week the President of the Republic, Nicolas Sarkozy in his wishes to economic forces.

Find the study of the DGTPE on