France and the United States – 2023 Economic Report

Packed with key insights and up-to-date analysis, this report underlines the strength and potential of the French American economic partnership. From trade statistics to sector-specific overviews, it gives a comprehensive understanding of the bilateral relations and the French footprint in the United States. We’ve included State Profiles, offering a deep dive into each US state’s unique relationship with France.

The United States and France benefit from a long, dynamic, and well-integrated trade partnership

Bilateral trade reached a new record, with close to $153 bn worth of goods and services traded between the U.S. and France in 2022, up 32% from 2021.

French and American companies have also invested close to $406 bn in each other’s economies according to the latest data. The United States remain the prime destination for French companies investing abroad. Conversely, U.S. investments account for the largest position of foreign direct investments in France, which is the leading destination for foreign investment projects in Europe according to the latest EY ranking. These remarkable figures remind us of the depth and the mutually beneficial trade and investment ties connecting our two countries.

France is the U.S.’ third largest trading partner in the EU

Trade in goods and services between France and the U.S. has increased significantly (+32% over a year), reaching $152.8 bn in 2022, its highest- ever level in value. According to the Bureau of Economic Analysis (BEA), trade in goods was worth $104.6 bn, a 30% increase compared to 2021 while trade in services amounted to close to $48 bn, a 35% increase over the previous year, both reaching their all-time highs. France is the U.S.’ third largest trading partner in the European Union (EU). In 2022, France accounted for close to 12% of both the U.S.’ total exports and imports of goods and services with the EU.

Transatlantic investments

US businesses’ total investment position in France represented $106 bn in 2021
French businesses’ total investment position in the US represented $326 bn in 2021