August 2021

Post n°227
Published on 08/18/2021

The pandemic has hit certain economies harder than others as a result of their particular sectoral specialisation. France’s specialisation in aeronautics, for example, explains nearly two-thirds of the decline in its global export market shares in the second half of 2020, and a third of the 8 percentage-point decline over the full year.

Chart 1: Value of goods exports (quarterly national accounts, Q4 2019=100).
Chart 1: Value of goods exports (quarterly national accounts, Q4 2019=100). Source: Quarterly national accounts, data adjusted for seasonal and working-day variations.
Post n°226
Published on 08/11/2021

By Valérie Chauvin and Pierre Sicsic

In 2020, the current account deficit of the balance of payments reached its highest level since 1982. It was financed by larger purchases of government securities by non-residents than in 2019, amounting to EUR 86 billion, which covered both the current account deficit and the increase in net private sector assets.

Chart 1:  financing from the rest of the world by sector (in EUR billions)
Chart 1: financing from the rest of the world by sector (in EUR billions) Source Banque de France