The volume of trade between Libya and France fell by 32.1% by the end of last May, reaching just 954 million euros, according to French customs data on foreign trade.

French imports from Libya fell by 39.5% to 720 million euros, due to a sharp decline in supplies of natural energy resources and other extractive industry products (-40.3%).

Rise in French Exports to Libya

Conversely, French exports to Libya rose by 8.7% to 234 million euros, driven by increased sales of refined petroleum products and coke (+64.6%), as well as agricultural and forestry products, and fishery and aquaculture products (+23.8%).

As a result, France’s trade deficit fell by 50.1% to 486 million euros by the end of May.

Trade between France and Tunisia Totals 3.9 Billion Euros

The volume of trade between France and Tunisia rose by 5.4% year-over-year, reaching 3.9 billion euros. French imports from Tunisia rose slightly by 2.2%, reaching 2.3 billion euros.

Imports of computers, electronics, and optical products fell by 18.3%, while imports of textiles, clothing, leather goods, and footwear fell by 3.3%.

Imports of electrical and household equipment rose by 12.7%, while refined petroleum products and coke rose from nearly zero to 33.6 million euros.

What products does Tunisia import from France?

French exports to Tunisia also jumped by 10.2% to reach 1.6 billion euros, driven by a significant increase in exports of transportation equipment (+47.3%), refined petroleum products and coke (2.6 times higher), and electrical and household appliances (+11.5%).

As a result, France’s trade deficit fell by 13.3% year-over-year, reaching 656 million euros by the end of May.

French investments in Libya’s energy sector

Libyan-French cooperation has seen a notable investment in the energy sector, namely the Sadada Solar Power Plant project, a partnership between the General Electricity Company of Libya and the Renewable Energy Authority on one side, and a group of major French companies, including Veolia and TotalEnergies, on the other.

Libya’s division is no longer an obstacle for France, which is trying to catch up with its Western competitors in the fields of investment and trade; it has strengthened its ties with two government entities in Misrata and Sirte in search of new economic opportunities.

To accelerate Libya’s reconstruction efforts, representatives from the two free zones in Misrata and Sirte met in Paris last December at France’s invitation to promote investment opportunities in Libya to French companies.