France Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

high-income, advanced and diversified EU economy and euro user; strong tourism, aircraft manufacturing, pharmaceuticals, and industrial sectors; strong US partner; ongoing pension reform protests and civil unrest; transitioning to a green economy via "France 2030" strategy

Real GDP (purchasing power parity)

$3.048 trillion (2021 est.)

$2.854 trillion (2020 est.)

$3.095 trillion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

6.82% (2021 est.)

-7.78% (2020 est.)

1.84% (2019 est.)

Real GDP per capita

$45,000 (2021 est.)

$42,200 (2020 est.)

$45,900 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$2.716 trillion (2019 est.)

Inflation rate (consumer prices)

1.64% (2021 est.)

0.48% (2020 est.)

1.11% (2019 est.)

Credit ratings

Fitch rating: AA (2014)

Moody's rating: Aa2 (2015)

Standard & Poors rating: AA (2013)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 1.7% (2017 est.)

industry: 19.5% (2017 est.)

services: 78.8% (2017 est.)

GDP - composition, by end use

household consumption: 54.1% (2017 est.)

government consumption: 23.6% (2017 est.)

investment in fixed capital: 22.5% (2017 est.)

investment in inventories: 0.9% (2017 est.)

exports of goods and services: 30.9% (2017 est.)

imports of goods and services: -32% (2017 est.)

Agricultural products

wheat, sugar beets, milk, barley, maize, potatoes, grapes, rapeseed, pork, apples

Industries

machinery, chemicals, automobiles, metallurgy, aircraft, electronics, textiles, food processing, tourism

Industrial production growth rate

6.98% (2021 est.)

Labor force

31.132 million (2021 est.)

Labor force - by occupation

agriculture: 2.8% (2016 est.)

industry: 20% (2016 est.)

services: 77.2% (2016 est.)

Unemployment rate

8.06% (2021 est.)

8.01% (2020 est.)

8.41% (2019 est.)

note: includes overseas territories

Youth unemployment rate (ages 15-24)

total: 20.1%

male: 19.9%

female: 20.3% (2021 est.)

Population below poverty line

13.6% (2018 est.)

Gini Index coefficient - distribution of family income

32.4 (2018 est.)

Average household expenditures

on food: 13.2% of household expenditures (2018 est.)

on alcohol and tobacco: 3.7% of household expenditures (2018 est.)

Household income or consumption by percentage share

lowest 10%: 3.6%

highest 10%: 25.4% (2013)

Budget

revenues: $1.427 trillion (2019 est.)

expenditures: $1.509 trillion (2019 est.)

Budget surplus (+) or deficit (-)

-2.6% (of GDP) (2017 est.)

Public debt

123.01% of GDP (2020 est.)

104.99% of GDP (2019 est.)

101.62% of GDP (2018 est.)

note: data cover general government debt and include 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 intragovernmental debt; intragovernmental 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

Taxes and other revenues

24.69% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

$9.947 billion (2021 est.)

-$46.341 billion (2020 est.)

$13.699 billion (2019 est.)

Exports

$920.864 billion (2021 est.) note: data are in current year dollars

$751.384 billion (2020 est.) note: data are in current year dollars

$892.016 billion (2019 est.) note: data are in current year dollars

Exports - partners

Germany 14%, United States 8%, Italy 7%, Spain 7%, Belgium 7%, United Kingdom 7% (2019)

Exports - commodities

aircraft, packaged medicines, cars and vehicle parts, wine, beauty products, gas turbines (2021)

Imports

$957.717 billion (2021 est.) note: data are in current year dollars

$796.353 billion (2020 est.) note: data are in current year dollars

$916.214 billion (2019 est.) note: data are in current year dollars

Imports - partners

Germany 18%, Belgium 9%, Italy 9%, Spain 7%, China 7%, Netherlands 6%, United Kingdom 5% (2019)

Imports - commodities

cars, crude petroleum, refined petroleum, packaged medicines, aircraft machinery (2019)

Reserves of foreign exchange and gold

$244.28 billion (31 December 2021 est.)

$224.236 billion (31 December 2020 est.)

$189.006 billion (31 December 2019 est.)

Debt - external

$6.356 trillion (2019 est.)

$6.058 trillion (2018 est.)

Exchange rates

euros (EUR) per US dollar -

0.845 (2021 est.)

0.876 (2020 est.)

0.893 (2019 est.)

0.847 (2018 est.)

0.885 (2017 est.)

NOTE: The information regarding France on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of France 2023 information contained here. All suggestions for corrections of any errors about France 2023 should be addressed to the CIA or the source cited on each page.