What trade agreements does france have

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External Websites Britannica Websites Articles from Britannica Encyclopedias for elementary and high school students. Also known as: French Republic, République Française Written by Bernard S. Bachrach

Professor of History, University of Minnesota, Minneapolis. Author of Merovingian Military Organization and others.

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Professor of Intercultural Communication and Linguistics, Lyon College of Business, France. Author of The Economic Geography of France and others.

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France, a leading trading nation, has grown into one of the world’s foremost exporting countries, with the value of exports representing more than one-fifth of GDP. France is also a major importer, especially of machinery, chemicals and chemical products, tropical agricultural products, and traditional industrial goods such as clothes and textiles. The high level of imports led to a trade deficit for much of the period between the early 1970s and early 1990s. However, from 1992 France experienced a trade surplus, combined with a positive balance from invisible (nonmerchandise) transactions, especially tourism.

France

The greater part of foreign trade is carried out with other developed countries, and some four-fifths of transactions take place with Organisation for Economic Co-operation and Development (OECD) countries. Among these the EU plays a major role, reflecting the growing exchange of goods and services between its member countries. More than three-fifths of French exports and imports are destined for or originate in EU countries, of which Germany is easily the most important. Outside the EU the United States is France’s other major trading partner, although Russia and China claimed a growing percentage of French trade in the 21st century. EU countries are an important source of industrial imports, whereas fuel products and raw materials tend to originate from more distant sources. Conversely, agricultural and food exports are oriented predominantly toward European markets, whereas industrial goods are exported to a more global marketplace.