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France Economy 2017
http://www.theodora.com/wfbcurrent/france/france_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











France Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

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. With more than 84 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. 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 increased by 1.1% in 2015. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 9.9% in the fourth quarter of 2014. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 24.3% in the fourth quarter of 2014.Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4% of GDP in 2014 and 2015, while France's public debt rose from 68% of GDP to more than 98% in 2015, and may hit 100% in 2016.Elected on a conventionally leftist platform, President Francois HOLLANDE surprised and angered many supporters with a January 2014 speech announcing a sharp change in his economic policy, recasting himself as a liberalizing reformer. The government's budget for 2014 shifted the balance of fiscal consolidation from taxes to a total of $24 billion in spending cuts. In December 2014, HOLLANDE announced additional reforms, including a plan to extend commercial business hours, liberalize professional services, and sell off $6.2-12.4 billion in state owned assets. France’s tax burden remains well above the EU average and income tax cuts over the past decade are being partly reversed, particularly for higher earners. The top rate of income tax is 41%. The government is allowing a 75% payroll tax on salaries over $1.24 million to lapse.

GDP (purchasing power parity):
$2.737 trillion (2016 est.) $2.701 trillion (2015 est.) $2.667 trillion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 11
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.488 trillion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.3% (2016 est.) 1.3% (2015 est.) 0.6% (2014 est.)
country comparison to the world: 167
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$42,400 (2016 est.) $42,000 (2015 est.) $41,700 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 38
[see also: GDP - per capita country ranks ]

Gross national saving:
21.9% of GDP (2016 est.) 22.2% of GDP (2015 est.) 21.4% of GDP (2014 est.)
country comparison to the world: 67
[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: 23.8%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 21.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.7%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 29.9%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -31% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.7%
[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: 78.8% (2016 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% (2016 est.)
country comparison to the world: 146
[see also: Industrial production growth rate country ranks ]

Labor force:
30.48 million (2016 est.)
country comparison to the world: 22
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 3%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 21.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 75.7% (2013 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
9.7% (2016 est.) 10.1% (2015 est.)
note: includes overseas territories
country comparison to the world: 113
[see also: Unemployment rate country ranks ]

Population below poverty line:
8.1% (2012 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)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
30.1 (2013) 30.5 (2012)
country comparison to the world: 122
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $1.288 trillion
[see also: Budget revenues country ranks ]
expenditures: $1.369 trillion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
51.8% of GDP (2016 est.)
country comparison to the world: 12
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.2% of GDP (2016 est.)
country comparison to the world: 112
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
96.5% of GDP (2016 est.) 96.2% of GDP (2015 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 int
country comparison to the world: 17
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.3% (2016 est.) 0.1% (2015 est.)
country comparison to the world: 44
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.05% (31 December 2014) 0.25% (31 December 2013)
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: 148
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
2% (31 December 2016 est.) 1.93% (31 December 2015 est.)
country comparison to the world: 176
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.144 trillion (31 December 2016 est.) $1.079 trillion (31 December 2015 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
country comparison to the world: 6
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.541 trillion (31 December 2014 est.) $2.771 trillion (31 December 2013 est.)
country comparison to the world: 7
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.64 trillion (31 December 2016 est.) $3.528 trillion (31 December 2015 est.)
country comparison to the world: 6
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$2.088 trillion (31 December 2015 est.) $2.086 trillion (31 December 2014 est.) $2.301 trillion (31 December 2013 est.)
country comparison to the world: 7
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$11.52 billion (2016 est.) -$4.832 billion (2015 est.)
country comparison to the world: 180
[see also: Current account balance country ranks ]

Exports:
$505.4 billion (2016 est.) $510.5 billion (2015 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 15.9%, Spain 7.3%, US 7.2%, Italy 7.1%, UK 7.1%, Belgium 6.8% (2015)

Imports:
$525.4 billion (2016 est.) $537.5 billion (2015 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 19.5%, Belgium 10.7%, Italy 7.7%, Netherlands 7.5%, Spain 6.8%, US 5.5%, China 5.4%, UK 4.3% (2015)

Reserves of foreign exchange and gold:
$138.2 billion (31 December 2015 est.) $143.4 billion (31 December 2014 est.)
country comparison to the world: 16
[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:
$796.8 billion (31 December 2016 est.) $773.3 billion (31 December 2015 est.)
country comparison to the world: 13
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.339 trillion (31 December 2016 est.) $1.316 trillion (31 December 2015 est.)
country comparison to the world: 9
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.9214 (2016 est.) 0.885 (2015 est.) 0.885 (2014 est.) 0.7634 (2013 est.) 0.7752 (2012 est.)


NOTE: The information regarding France on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of France Economy 2017 information contained here. All suggestions for corrections of any errors about France Economy 2017 should be addressed to the CIA.




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