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. During the period 1982-86 economic growth was sluggish, averaging only 1.4% annually. This trend was reversed by late 1987, however, with a strong expansion of consumer demand, followed by a surge in investment. The economy has had difficulty generating enough jobs for new entrants into the labor force, resulting in a high unemployment rate, but the upward trend in growth recently pushed the jobless rate below 10%. The steadily advancing economic integration within the European Community is a major force affecting the fortunes of the various economic sectors.

GDP: $819.6 billion, per capita $14,600; real growth rate 3.4% (1989 est.)

Inflation rate (consumer prices): 3.5% (1989 est.)

Unemployment rate: 9.7% (1989 est.)

Budget: revenues $197.0 billion; expenditures $213.4 billion, including capital expenditures of $NA (1989 est.)

Exports: $183.1 billion (f.o.b., 1989 est.); commodities--machinery and transportation equipment, chemicals, foodstuffs, agricultural products, iron and steel products, textiles and clothing; partners--FRG 15.8%, Italy 12.2%, UK 9.8%, Belgium-Luxembourg 8.9%, Netherlands 8.7%, US 6.7%, Spain 5.6%, Japan 1.8%, USSR 1.3% (1989 est.)

Imports: $194.5 billion (c.i.f., 1989 est.); commodities--crude oil, machinery and equipment, agricultural products, chemicals, iron and steel products; partners--FRG 19.4%, Italy 11.5%, Belgium-Luxembourg 9.2%, US 7.7%, UK 7.2%, Netherlands 5.2%, Spain 4.4%, Japan 4.1%, USSR 2.1% (1989 est.)

External debt: $59.3 billion (December 1987)

Industrial production: growth rate 4.4% (1989 est.)

Electricity: 109,972,000 kW capacity; 403,570 million kWh produced, 7,210 kWh per capita (1989)

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

Agriculture: accounts for 4% of GNP (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

Aid: donor--ODA and OOF commitments (1970-87), $59.8 billion

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

Exchange rates: French francs (F) per US$1--5.7598 (January 1990), 6.3801 (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 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of France Economy 1990 information contained here. All suggestions for corrections of any errors about France Economy 1990 should be addressed to the CIA.