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France Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











France Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. France is the most visited country in the world with 83 million foreign tourists in 2016, including 530,000 visitors for the 2016 Euro Cup. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality.France's real GDP grew by 1.6% in 2017, up from 1.2% the year before. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2015, before falling to 9.5% in 2017. Youth unemployment in metropolitan France decreased from 24.6% in the fourth quarter of 2014 to 24% in the fourth quarter of 2016.France’s public finances have historically been strained by high spending and low growth. Despite measures to restore public finances, the budget deficit rose from 3.3% of GDP in 2008 to 7.5% of GDP in 2009. In 2017, the budget deficit improved to 2.9% of GDP, bringing it in compliance with the EU-mandated 3% deficit target. Meanwhile, France's public debt rose from 89.5% of GDP in 2012 to 96.9% in 2017.Since entering office in May 2017, President Emmanuel MACRON launched a series of economic reforms to improve competitiveness and boost economic growth. President MACRON campaigned on reforming France’s labor code and in late 2017 implemented a range of reforms to increase flexibility in the labor market by making it easier for firms to hire and fire and simplifying negotiations between employers and employees. In addition to labor reforms, President MACRON’s proposed 2018 budget cuts public spending, taxes, and social security contributions to spur private investment and increase purchasing power.

GDP (purchasing power parity):
$2.826 trillion (2017 est.) $2.783 trillion (2016 est.) $2.75 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 11

GDP (official exchange rate):
$2.575 trillion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.6% (2017 est.) 1.2% (2016 est.) 1.1% (2015 est.)
country comparison to the world: 171
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$43,600 (2017 est.) $43,100 (2016 est.) $42,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 39

Gross national saving:
22.1% of GDP (2017 est.) 22% of GDP (2016 est.) 22.3% of GDP (2015 est.)
country comparison to the world: 74
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 54.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 23.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1.3%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 30.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -32% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.6%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 19.4%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 78.9% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
wheat, cereals, sugar beets, potatoes, wine grapes; beef, dairy products; fish

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

Industrial production growth rate:
1.1% (2017 est.)
country comparison to the world: 161
[see also: Industrial production growth rate country ranks ]

Labor force:
30.68 million (2017 est.)
country comparison to the world: 21
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 18.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 79.3% (2015 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
9.5% (2017 est.) 10% (2016 est.)
note: includes overseas territories
country comparison to the world: 133
[see also: Unemployment rate country ranks ]

Population below poverty line:
14% (2013 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 25.4% (2013)

Distribution of family income - Gini index:
29.2 (2015) 30.5 (2012)
country comparison to the world: 130
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $1.334 trillion
[see also: Budget - revenues country ranks ]
expenditures: $1.412 trillion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
51.8% of GDP (2017 est.)
country comparison to the world: 13
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.1% of GDP (2017 est.)
country comparison to the world: 117
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
96.1% of GDP (2017 est.) 96.4% of GDP (2016 est.)
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
country comparison to the world: 20
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.2% (2017 est.) 0.3% (2016 est.)
country comparison to the world: 50
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0% (31 December 2016) 0.05% (31 December 2015)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
country comparison to the world: 158
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
1.4% (31 December 2017 est.) 1.6% (31 December 2016 est.)
country comparison to the world: 186
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.372 trillion (31 December 2017 est.) $1.139 trillion (31 December 2016 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
country comparison to the world: 6
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.338 trillion (31 December 2017 est.) $1.982 trillion (31 December 2016 est.)
country comparison to the world: 7
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$4.225 trillion (31 December 2017 est.) $3.646 trillion (31 December 2016 est.)
country comparison to the world: 6
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$1.591 trillion (31 March 2017 est.) $2.088 trillion (31 December 2015 est.) $2.086 trillion (31 December 2014 est.)
country comparison to the world: 9
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$28.92 billion (2017 est.) -$24.66 billion (2016 est.)
country comparison to the world: 195
[see also: Current account balance country ranks ]

Exports:
$541.3 billion (2017 est.) $507 billion (2016 est.)
country comparison to the world: 7
[see also: Exports country ranks ]

Exports - commodities:
machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages

Exports - partners:
Germany 16%, Spain 7.6%, US 7.3%, Italy 7.2%, UK 7%, Belgium 6.8% (2016)

Imports:
$576.3 billion (2017 est.) $536.7 billion (2016 est.)
country comparison to the world: 7
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals

Imports - partners:
Germany 19.3%, Belgium 10.6%, Netherlands 7.9%, Italy 7.8%, Spain 7%, US 5.8%, China 5.1%, UK 4.2% (2016)

Reserves of foreign exchange and gold:
$146.8 billion (31 December 2016 est.) $138.2 billion (31 December 2015 est.)
country comparison to the world: 17
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.36 trillion (31 March 2016 est.) $5.25 trillion (31 March 2015 est.)
country comparison to the world: 4
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$842.5 billion (31 December 2017 est.) $807.4 billion (31 December 2016 est.)
country comparison to the world: 13
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.452 trillion (31 December 2017 est.) $1.379 trillion (31 December 2016 est.)
country comparison to the world: 10
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.906 (2017 est.) 0.9214 (2016 est.) 0.9214 (2015 est.) 0.885 (2014 est.) 0.7634 (2013 est.)


NOTE: 1) The information regarding France on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of France Economy 2018 information contained here. All suggestions for corrections of any errors about France Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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