Overview: One of the world's most developed economies, France has substantial agricultural resources and a highly diversified modern industrial sector. Large tracts of fertile land, the application of modern technology, and subsidies have combined to make it the leading agricultural producer in Western Europe. Largely self-sufficient in agricultural products, France is a major exporter of wheat and dairy products. The industrial sector generates about one-quarter of GDP, and the growing services sector has become crucial to the economy. Although French GDP contracted by 0.7% in 1993, the economy showed signs of life by yearend. GDP growth, however, will remain sluggish in 1994 - perhaps reaching only 1.0%. Rapidly increasing unemployment will still pose a major problem for the government. Paris remains committed to maintaining the franc-deutsche mark parity, which has kept French interest rates high despite France's low inflation. Although the pace of economic integration within the European Community has slowed down, integration presumably will remain a major force shaping the fortunes of the various economic sectors.

National product: GDP - purchasing power equivalent - $1.05 trillion (1993)

National product real growth rate: -0.7% (1993)

National product per capita: $18,200 (1993)

Inflation rate (consumer prices): 2.1% (1993)

Unemployment rate: 12.2% (May 1994)

Budget:
revenues: $220.5 billion
expenditures: $249.1 billion, including capital expenditures of $47 billion (1993 budget)

Exports: $270.5 billion (f.o.b., 1993)
commodities: machinery and transportation equipment, chemicals, foodstuffs, agricultural products, iron and steel products, textiles and clothing
partners: Germany 18.6%, Italy 11.0%, Spain 11.0%, Belgium-Luxembourg 9.1%, UK 8.8%, Netherlands 7.9%, US 6.4%, Japan 2.0%, former USSR 0.7% (1991 est.)

Imports: $250.2 billion (c.i.f., 1993)
commodities: crude oil, machinery and equipment, agricultural products, chemicals, iron and steel products
partners: Germany 17.8%, Italy 10.9%, US 9.5%, Netherlands 8.9%, Spain 8.8%, Belgium-Luxembourg 8.5%, UK 7.5%, Japan 4.1%, former USSR 1.3% (1991 est.)

External debt: $300 billion (1993 est.)

Industrial production: growth rate -4.3% (1993)

Electricity:
capacity: 110 million kW
production: 426 billion kWh
consumption per capita: 7,430 kWh (1992)

Industries: steel, machinery, chemicals, automobiles, metallurgy, aircraft, electronics, mining, textiles, food processing, tourism

Agriculture: accounts for 4% of GDP (including fishing and forestry); one of the world's top five wheat producers; other principal products - beef, dairy products, cereals, sugar beets, potatoes, wine grapes; self-sufficient for most temperate-zone foods; shortages include fats and oils and tropical produce, but overall net exporter of farm products; fish catch of 850,000 metric tons ranks among world's top 20 countries and is all used domestically

Economic aid:
donor: ODA and OOF commitments (1970-89), $75.1 billion

Currency: 1 French franc (F) = 100 centimes
Exchange rates: French francs (F) per US$1 - 5.9205 (January 1994), 5.6632 (1993), 5.2938 (1992), 5.6421 (1991), 5.4453 (1990), 6.3801 (1989)

Fiscal year: calendar year

NOTE: The information regarding France on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of France Economy 1995 information contained here. All suggestions for corrections of any errors about France Economy 1995 should be addressed to the CIA.