Statistics

France, soon electing a new president, surpasses $10 billion in total trade

April 22nd, 2007

France, which narrowed to two the candidates for president on Sunday, is one of the United States’ most important trade partners.

For the first time, France and the United States registered more than $10 billion in trade through the first two months of the year, according to WorldCity analysis of the most recently released U.S. Census data.

France’s trade increased 9.6 percent through the first two months of the year, about 50 percent faster than the overall U.S. average, and maintained its rank as the nation’s eighth top trade partner.

Exports were up more than 20 percent; imports less than 3 percent. The deficit with France decreased $621 million to $1.3 billion.

In the French election, center-right candidate Nicolas Sarkozy, 52, and socialist candidate Segolene Royal, 53, will face each other in the May 9 election to replace President Jacque Chirac, who leaves the Elyse Palace in Paris after 12 years in office. Conventional wisdom is that Sarkozy would be more friendly to the United States and trade policy.

New York is the leading Customs district for trade with France, surpassing $2 million through the first months, or more than twice any other Customs district. Nevertheless, New York’s trade was off about 1 percent through the first two months of the year. Cleveland moved ahead of New Orleans, to become the second-ranked trade partners, with $937 million. Seattle, Philadelphia and Tampa are the fastest-growing Customs districts through the first two months of the year.

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