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. France is largely self-sufficient in agricultural products and is a major exporter of wheat and dairy products. The industrial sector generates about one-third of GDP and employs about one-third of the work force. Major branches of manufacturing are steel, motor vehicles, aircraft, mechanical and electrical engineering, textiles, chemicals, and food processing. During the period 1982-86 economic growth was sluggish, annually averaging only 1.4%. The economy has had difficulty generating enough jobs for new entrants into the labor force, resulting in an unemployment rate still over 10%, but an upward trend may be beginning with the strong growth of 1988. The steadily advancing economic integration within the European Community is a major force affecting the fortunes of the various economic sectors.

GNP: $939.2 billion, per capita $16,800; real growth rate 2.3% (1988)

Inflation rate (consumer prices): 2.7% (1988)

Unemployment rate: 10.5% (1988)

Budget: revenues $189.4 billion; expenditures $208.2 billion, including capital expenditures of $NA (1988 est.)

Exports: $153.6 billion (f.o.b., 1988 est.); @m5commodities--machinery and transportation equipment, chemicals, foodstuffs, agricultural products, iron and steel products, textiles and clothing; @m5partners--FRG 16.1%, Italy 11.8%, Belgium-Luxembourg 9.1%, UK 8.8%, US 7.4%, Netherlands 4.9%, Spain 4.1%, Japan 1.4%, USSR 1.3% (1986)

Imports: $162.4 billion (c.i.f., 1988 est.); @m5commodities--crude oil, machinery and equipment, agricultural products, chemicals, iron and steel products; @m5partners--FRG 19.3%, Italy 11.6%, Belgium-Luxembourg 9.4%, US 7.5%, UK 6.5%, Netherlands 5.7%, Spain 4.1%, Japan 3.6%, USSR 2.1% (1986)

External debt: $59.3 billion (December 1987)

Industrial production: growth rate 2.1% (1987)

Electricity: 103,417,000 kW capacity; 384,350 million kWh produced, 6,910 kWh per capita (1988)

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

Agriculture: beef, dairy products, cereals, sugar beets, potatoes, wine grapes; self-sufficient for most temperate zone foodstuffs; agricultural shortages include fats and oils, tropical produce

Aid: donor--ODA and OOF commitments (1970-86), $43.8 billion

Currency: French franc (plural--francs); 1 French franc (F) = 100 centimes

Exchange rates: French francs (F) per US$1--6.2503 (January 1989), 5.9569 (1988), 6.0107 (1987), 6.9261 (1986), 8.9852 (1985)

Fiscal year: calendar year

NOTE: The information regarding France on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of France Economy 1989 information contained here. All suggestions for corrections of any errors about France Economy 1989 should be addressed to the CIA.