What does the trade balance situation tell us about structural economic problems? The examples of Germany and France

We look at trends in the trade balances of Germany and France for manufactured goods, energy, agricultural products, travel and services excluding travel . The trends in current account balances by product provide us with information about: The vigour of domestic demand; The cost-competitiveness and quality-competitiveness of products; Productive specialisation. We conclude that: Germany has weak domestic demand; Germany has a comparative advantage in industry and not in other products; France has a comparative advantage in agricultural and food products and travel ; Since 2022, both countries have lost their external surplus in services other than travel .