According to the report, French exports to Morocco reached €7.4 billion in 2024, up from €6.6 billion in 2023. At the same time, imports from Morocco held steady at €7.4 billion, maintaining the same level as the previous year.
This trade balance resulted in a 0.9% surplus for France, a notable improvement from the 0.8% deficit recorded in 2023.
Despite ongoing political tensions between France and Algeria, trade between the two countries grew by 1.1%. Meanwhile, Tunisia recorded a modest increase of 0.1%, and trade with Libya rose by 0.4%.
On a broader scale, France’s trade with Africa registered a €2.5 billion surplus in 2024. However, the overall trade deficit remains significant at €6.5 billion.
The report also highlighted a €7 billion drop in France’s energy trade deficit, bringing the total down to €10.7 billion. This decline was driven by a sharp decrease in hydrocarbon imports, including a 36% reduction in purchases from Belgium, 91% from Spain, and a 73% decrease in electricity imports from Spain, Germany, and Belgium.
France experienced a €1 billion decline in its trade surplus with non-EU European nations, though the balance remains positive at €10.3 billion. The trade surplus with Switzerland shrank from €1.5 billion to €2.5 billion, while trade with Ukraine saw a modest improvement, shifting from a €0.3 billion deficit to a €0.2 billion surplus.
However, the trade deficit with Russia widened significantly, growing from €0.5 billion to €2.1 billion.
These figures reflect the impact of geopolitical shifts on France’s external trade, particularly in the Maghreb, Africa, and the European energy market.
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