Comparative studies have long shown that France's trade specialisation suffers from a triple handicap: i) it is unfavourably specialised, as sectoral and geographic patterns are not well adapted to changes in world demand; ii) it is insufficiently specialised, as strengths are not focused in industries with a clear-cut comparative advantage; iii) its strengths and weaknesses change significantly over time, which may be interpreted as a sign of a fragile, rather than a flexible trade specialisation. But French specialisation might seem incoherent only at aggregate levels. A more favourable picture should appear at a detailed level, in which France is supposed to export primarily up-market products while importing middle- or down-market products in the same sectors.