The arrival of powerful new players on world markets –the foremost of these being China– automatically decreases market share for advanced economies. But France's export market share has decreased more than that of other European countries. This is not a result of poor geographic or sectoral specialisation, insuf-fi cient exporter support, under-representation of SMEs in exports or credit constraints, but, more fundamentally, is caused by an inadequate " quality/price ratio " for French products on average. When products are of quality, results are exceptional, as demonstrated by the luxury, aeronautical and electrical distribution goods sectors –sectors, with a flagship– and/or by brands, which appear to play a key role. A country's competitiveness comprises a price dimension and a non-price dimension. Regarding price competitiveness , direct labour costs represent just 23%, on average, of the total value of French exports and 44% when including the cost of labour for domestic intermediate consumption. Price competitiveness is therefore not solely a matter of labour costs for exporting companies. We also need to look at the input side, whether it be at intermediate goods (possibly imported), energy or even services produced in France for exporting companies. The central message here is that competitiveness is everybody's concern, and not just that of industrial companies. Greater effi ciency in non-tradable sectors (business services, construction, public services) also contributes to the creation of price competitiveness.