How Much Time Does France Get to Spend With Their Family

National economy of French republic

This article is about the current economic situation of France. For historical information, run into Economic history of France.

Economy of France

La Défense, the fiscal hub of France
Currency	Euro (EUR, €)
Fiscal twelvemonth	Calendar year
Trade organisations	European union, WTO and OECD
State group	Developed/Avant-garde[1] High-income economy[2]
Statistics
Population	68,035,000 (January 2021)[3]
GDP	€three.140  trillion (nominal; 2021 est.)[4] €3.23 trillion (PPP; 2021 est.)[four]
Gdp rank	seventh (nominal, 2021) 9th (PPP, 2021)
GDP growth	1.eight% (2018) 1.five% (2019) -8.1% (2020e)[v] 7.0% (2021e)[4]
GDP per capita	$44,995 (nominal; 2021 est.)[4] $49,492 (PPP; 2021 est.)[4]
GDP per capita rank	30th (nominal, 2021) 35th (PPP, 2021)
GDP by sector	agriculture: one.7% industry: 19.5% services: 78.8% (2017 est)[half-dozen]
Aggrandizement (CPI)	0.5% (2020 est.)[4] 1.three% (2019)[4] 2.1% (2018)[4]
Population beneath poverty line	5.5% or 13.2% with DOM-TOM 17.75% at chance of poverty or social exclusion (AROPE, 2018)[vii]
Gini coefficient	28.5 depression (2018, Eurostat)[8]
Human Development Index	0.909 50very high (2020)[nine] (26th) 0.820 very loftier IHDI (2019)[10]
Labour forcefulness	30,394,934 (2020, ILO)[11] 72.4% employment charge per unit (Target: 75%; 2019)[12]
Labour strength by occupation	agronomics: 2.8% industry: 20% services: 77.2% (2016 est.)[6]
Unemployment	8.1% with DOM-TOM (Q1, 2021)[13] nineteen.7% youth unemployment (xv to 24-year-olds; July 2020)[fourteen]
Average gross bacon	€35,484 / $42,300 annually (2017)[15]
Average net salary	€27,543 / $31,304 annually (2022)[sixteen]
Main industries	Mechanism chemicals automobiles metallurgy aircraft electronics textiles food processing tourism
Ease-of-doing-business rank	32nd (very like shooting fish in a barrel, 2020)[17]
External
Exports	$746.9 billion (5th; 2020 est.)[18]
Export appurtenances	machinery and equipment, aircraft, plastics, chemicals, pharmaceutical products, fe and steel, beverages
Master consign partners	Germany(+) 14.8% Spain(+) 7.vii% Italy(+) 7.five% United States(+) 7.two% Kingdom of belgium(+) 7% U.k.(+) 6.vii% (2017)[6]
Imports	$803.six billion (4th; 2020 est.)[nineteen]
Import goods	machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals
Primary import partners	Germany(+) xviii.five% Kingdom of belgium(+) 10.ii% Netherlands(+) 8.3% Italy(+) seven.9% Spain 7.one% United Kingdom(+) 5.3% United states of america(+) 5.2% China(-) v.1% (2017)[6]
FDI stock	$858.iii billion (31 December 2017 est.)[half-dozen] Abroad: $1.429 trillion (31 December 2017 est.)[half-dozen]
Current account	−$eighteen.10 billion (2019 est.)[6]
Gross external debt	$5.250 trillion (31 March 2017)[20]
Public finances
Public debt	98.1% of Gross domestic product (2019)[21] €2.380 trillion (2019)[21]
Budget rest	€72.viii billion deficit (2019)[21] −3.0% of GDP (2019)[21]
Revenues	52.6% of Gdp (2019)[21]
Expenses	55.6% of Gross domestic product (2019)[21]
Economic aid	donor: ODA, $9.fifty billion (2016)[22]
Credit rating	Standard & Poor's:[23] AA Outlook: Stable Moody's:[24] Aa2 Outlook: Stable Fitch:[25] AA Outlook: Stable
Foreign reserves	$237.83 billion (April 2020)
All values, unless otherwise stated, are in US dollars.

The economy of French republic is a highly developed, market-oriented economy.^[26] Information technology is the world'southward seventh-largest economic system by 2020 nominal figures and the ninth-largest economic system by PPP, constituting three.3% of world Gross domestic product.^[27] As of September 30, 2020, it was the 3rd largest economic system of Europe, afterward the economy of Germany and the economy of the United Kingdom.^[28]

France has a diversified economy,^[29] that is dominated by the service sector (which in 2017 represented 78.eight% of its Gross domestic product), whilst the industrial sector deemed for xix.v% of its Gross domestic product and the primary sector accounted for the remaining i.7%.^[xxx] France was in 2020 the largest Foreign Direct Investment recipient in Europe,^[31] and Europe's 2d largest spender in Research and evolution.^[32] Information technology was ranked amidst the 10 most innovative countries in the world by the 2020 Bloomberg Innovation Index,^[33] as well equally the 15th about competitive nation globally, according to the 2019 Global Competitiveness Report (up 2 notches compared to 2018).^[34] It was the fifth-largest trading nation in the world (and second in Europe later Germany). French republic is also the well-nigh visited destination in the world,^{[35] [36]} besides the European union'due south leading agricultural power.^[37]

According to the International Monetary Fund (IMF), in 2020, France was the world's 20th country by Gdp per capita with $39,257 per inhabitant. In 2019, French republic was listed on the United nations's Human Evolution Index with a value of 0.901 (indicating very high human evolution) and 23rd on the Corruption Perceptions Index in 2019.^{[38] [39]}

Paris is a leading global urban center, and has one of the largest metropolis GDP in the globe.^[40] It ranks every bit the first urban center in Europe (and third worldwide) by the number of companies classified in Fortune's Fortune Global 500.^[41] Paris produced €738 billion (or United states$882 billion at market place exchange rates) or around ane/3 of the economic system of France in 2018^[42] while the economy of the Paris metropolitan area — the largest in Europe with London—generates effectually ane/3 of France'due south Gdp or around $one.0 trillion.^[43] Paris has been ranked equally the 2nd about attractive global city in the world in 2019 by KPMG.^[44] La Défense, Paris's Fundamental Business organisation Commune, was ranked by Ernst & Immature in 2017 as the leading business district in continental Europe, and fourth in the earth.^[45] The OECD is headquartered in Paris, the nation'south financial uppercase. The other major economic centres of the country include Lyon, Toulouse (centre of the European aerospace industry), Marseille and Lille.

France'due south economy entered the recession of the late 2000s afterwards and appeared to leave it earlier than most affected economies, only indelible 4-quarters of contraction.^[46] However, France experienced stagnant growth between 2012 and 2014, with the economy expanding by 0% in 2012, 0.8% in 2013 and 0.ii% in 2014. Growth picked up in 2015 with a growth of 0.8%. This was followed by a growth of 1.1% for 2016, a growth of 2.ii% for 2017, and a growth of 2.1% for 2018.^[47] According to the OFCE, the expected growth rate for 2019 was i.iii%.^{[48] [ circular reference ]}

Corporations [edit]

With 31 companies that are part of the earth's biggest 500 companies, France was in 2020 the most represented European country in the 2020 Fortune Global 500, ahead of Germany (27 companies) and the UK (22).^[49]

Every bit of August 2020, France was too the country that weighed the almost on the Eurozone's EURO STOXX 50 (representing 36.4% of all full assets), ahead of Germany (35.2%).^[50]

Several French corporations rank amongst the largest in their industries such equally AXA in insurance and Air France in air transportation.^[51] Luxury and consumer skillful are particularly relevant, with L'Oreal being the world's largest cosmetic visitor while LVMH and Kering are the world's ii largest luxury product companies. In energy and utilities, GDF-Suez and EDF are among the largest free energy companies in the globe, and Areva is a large nuclear-free energy company; Veolia Environnement is the world'southward largest environmental services and water direction company; Vinci SA, Bouygues and Eiffage are large structure companies; Michelin ranks in the top three tire manufacturers; JCDecaux is the world's largest outdoor advertizement corporation; BNP Paribas, Credit Agricole and Société Générale rank amongst the largest in the world by assets. Capgemini and Atos are among the largest applied science consulting companies.

Carrefour is the world'due south second-largest retail group in terms of revenue; Total is the world's fourth-largest individual oil visitor; Danone is the world'due south 5th-largest food visitor and the earth's largest supplier of mineral h2o; Sanofi is the world'southward fifth-largest pharmaceutical company; Publicis is the earth'south third-largest advertizement company; Groupe PSA is the world's 6th and Europe'south 2nd largest automaker; Accor is the leading European hotel group; Alstom is one of the world's leading conglomerates in rail transport.

Rising and decline of dirigisme [edit]

France embarked on an aggressive and very successful program of modernization nether country coordination. This programme of dirigisme, mostly implemented past governments betwixt 1944 and 1983, involved the country command of sure industries such as transportation, energy and telecommunications besides as various incentives for private corporations to merge or engage in certain projects.

The 1981 election of president François Mitterrand saw a curt-lived increase in governmental control of the economy, nationalizing many industries and private banks. This course of increased dirigisme, was criticized as early as 1982. Past 1983, the government decided to renounce dirigisme and start an era of rigueur ("rigor") or corporation. As a result, the government largely retreated from economic intervention; dirigisme has now substantially receded, though some of its traits remain. The French economy grew and changed under government management and planning much more than than in other European countries.

Despite beingness a widely liberalized economic system, the government continues to play a significant part in the economy: government spending, at 56% of Gross domestic product in 2014, is the second-highest in the European Union. Labor conditions and wages are highly regulated. The government continues to own shares in corporations in several sectors, including energy production and distribution, automobiles, transportation, and telecommunications. However these shareholdings are being chop-chop sold, the country keeping mostly symbolic stakes in those companies (aside from rail transportation and energy).

Government finance [edit]

French Government borrowing (upkeep deficits) every bit a percentage of GNP, 1960–2009.

France's public debt from 1978 to 2009

Limerick of the French economic system (Gdp) in 2016 by expenditure type

In April and May 2012, French republic held a presidential election in which the winner François Hollande had opposed austerity measures, promising to eliminate France'south budget deficit past 2017. The new regime stated that it aimed to cancel recently enacted tax cuts and exemptions for the wealthy, raising the acme taxation bracket rate to 75% on incomes over a 1000000 euros, restoring the retirement age to 60 with a full pension for those who take worked 42 years, restoring 60,000 jobs recently cut from public instruction, regulating rent increases; and building additional public housing for the poor.

In June 2012, Hollande'south Socialist Party won an overall majority in the legislative elections, giving information technology the capability to amend the French Constitution and allowing immediate enactment of the promised reforms. French authorities bail interest rates fell 30% to record lows,^[52] less than 50 ground points above High german authorities bond rates.^[53]

In July 2020, during the COVID-19 pandemic, the French government issued ten-years bonds which had negative involvement rates, for the starting time time in its history (which ways that investors buying French bonds will pay, rather than receive, involvement for owning French sovereign debt).^[54]

France possesses in 2020 the quaternary-largest gold reserves in the world.^[55]

National debt [edit]

The Government of French republic has run a budget deficit each year since the early on 1970s. As of 2021, French government debt reached an equivalent of 118.half-dozen% of French Gross domestic product.^[56]

Nether European union rules, member states are supposed to limit their debt to 60% of output or be reducing the ratio structurally towards this ceiling, and run public deficits of no more than than 3.0% of Gdp.^[57]

In late 2012, credit-rating agencies warned that growing French government debt levels risked France'south AAA credit rating, raising the possibility of a futurity credit downgrade and subsequent higher borrowing costs for the French government.^[58] In 2012 French republic was downgraded by ratings agencies Moody's, Standard&Poor's, and Fitch to the AA+ credit rating.^{[59] [threescore]}

In December 2014 French republic'due south credit rating was further downgraded by Fitch (and S&P) to the AA credit rating.^[61]

Data [edit]

Alter in per capita GDP of France, 1820–2018. Figures are inflation-adjusted to 2011 International dollars.

The following table shows the main economic indicators in 1980–2020 (with IMF staff stimtates in 2021–2026). Inflation below 2% is in green.^[62]

Twelvemonth	Gdp (in Bil. U.s.a.$PPP)	GDP per capita (in Us$ PPP)	GDP (in Bil. US$nominal)	GDP per capita (in US$ nominal)	Gross domestic product growth (real)	Aggrandizement rate (in Percent)	Unemployment (in Pct)	Regime debt (in % of Gross domestic product)
1980	578.0	10,756.9	701.three	thirteen,052.1	1.8%	xiii.1%	half dozen.3%	20.8%
1981	639.half-dozen	11,838.four	615.6	11,393.ane	1.1%	xiii.3%	seven.4%	22.0%
1982	695.4	12,798.iv	584.9	10,764.2	2.iv%	12.0%	eight.1%	25.four%
1983	732.1	13,395.six	559.9	10,245.0	1.three%	ix.five%	vii.4%	26.7%
1984	771.2	14,048.eight	530.7	ix,667.v	1.vii%	7.7%	8.five%	29.1%
1985	808.4	14,656.1	553.1	10,028.5	1.6%	5.8%	8.7%	30.7%
1986	843.2	15,217.half-dozen	771.5	thirteen,923.0	two.3%	2.5%	eight.nine%	31.three%
1987	886.8	15,926.0	934.1	16,776.5	two.six%	3.3%	9.ii%	33.7%
1988	960.0	17,152.8	1,018.viii	18,204.ane	4.6%	two.seven%	8.8%	33.half dozen%
1989	1,042.2	18,522.0	1,025.2	18,218.7	4.v%	6.6%	8.seven%	34.4%
1990	1,114.0	19,689.6	ane,269.1	22,432.one	3.0%	0.3%	8.4%	35.6%
1991	ane,162.5	twenty,452.iv	one,269.2	22,329.5	0.9%	3.four%	8.6%	36.v%
1992	one,206.seven	21,128.4	1,401.4	24,538.4	ane.5%	2.5%	9.4%	40.2%
1993	1,228.3	21,410.6	i,322.9	23,059.2	-0.half-dozen%	2.2%	10.3%	46.half-dozen%
1994	1,283.9	22,302.7	1,394.0	24,215.7	2.iii%	1.7%	ten.7%	49.9%
1995	1,340.one	23,203.5	i,601.0	27,721.seven	2.two%	1.8%	10.five%	56.1%
1996	one,383.5	23,880.six	one,605.8	27,716.ii	one.4%	ii.1%	10.viii%	threescore.0%
1997	1,439.eight	24,773.7	i,452.9	24,999.8	2.three%	1.3%	x.ix%	61.4%
1998	1,508.6	25,877.5	one,503.2	25,783.5	three.vi%	0.seven%	10.7%	61.4%
1999	one,580.0	27,011.0	i,492.7	25,517.one	iii.iii%	0.vi%	10.4%	60.v%
2000	i,681.nine	28,575.9	ane,362.5	23,149.3	4.1%	1.8%	9.2%	58.nine%
2001	one,754.3	29,600.vii	1,376.seven	23,229.ii	2.0%	1.8%	8.5%	58.3%
2002	1,801.6	30,185.3	1,495.vii	25,058.viii	ane.one%	i.9%	8.iii%	60.3%
2003	ane,852.7	30,825.8	1,840.ix	30,628.9	0.8%	2.2%	8.5%	64.4%
2004	1,951.six	32,254.9	2,116.5	34,980.1	2.6%	2.3%	eight.9%	65.nine%
2005	2,047.iv	33,584.5	2,194.seven	36,000.9	1.vii%	1.ix%	8.9%	67.iv%
2006	2,166.1	35,278.0	two,318.six	37,762.5	2.vi%	one.nine%	8.8%	64.six%
2007	ii,278.5	36,871.6	2,657.1	42,998.5	2.4%	1.6%	eight.0%	64.5%
2008	2,324.eight	37,416.0	ii,915.8	46,927.3	0.1%	3.2%	7.5%	68.8%
2009	two,274.6	36,413.four	2,691.0	43,079.4	-2.8%	0.1%	nine.1%	83.0%
2010	2,344.2	37,349.3	2,642.4	42,100.3	1.8%	1.7%	ix.iii%	85.3%
2011	2,446.5	38,789.six	2,862.0	45,378.three	ii.2%	2.3%	9.2%	87.eight%
2012	two,474.0	39,037.0	2,683.9	42,348.7	0.4%	2.2%	9.8%	90.6%
2013	ii,608.v	40,951.v	2,811.0	44,130.8	0.half dozen%	i.0%	10.three%	93.iv%
2014	two,662.0	41,576.1	two,852.2	44,545.vii	one.0%	0.6%	10.3%	94.ix%
2015	2,719.ii	42,289.1	2,438.2	37,918.8	one.0%	0.1%	10.4%	95.vi%
2016	two,863.8	44,421.7	2,471.3	38,332.7	1.0%	0.3%	10.i%	98.0%
2017	2,997.3	46,369.7	two,589.0	xl,053.vi	two.4%	1.2%	9.4%	98.3%
2018	3,125.4	48,198.5	2,789.7	43,021.four	1.viii%	ii.1%	nine.0%	98.0%
2019	3,239.8	49,851.5	two,728.8	41,989.7	1.8%	1.3%	8.4%	97.half dozen%
2020	3,016.ix	46,325.3	two,624.4	40,298.9	-8.0%	0.v%	eight.0%	115.1%
2021	iii,322.3	50,876.2	ii,940.4	45,028.iii	6.iii%	2.0%	8.1%	115.8%
2022	3,548.0	54,181.7	3,140.0	47,952.1	3.9%	one.six%	8.3%	113.5%
2023	iii,698.half dozen	56,323.6	3,281.7	49,974.9	1.eight%	1.ii%	viii.0%	114.6%
2024	3,839.four	58,303.5	iii,416.0	51,873.viii	1.five%	1.3%	7.nine%	115.iv%
2025	three,977.4	threescore,231.5	iii,543.vi	53,661.2	1.iv%	1.2%	7.8%	116.2%
2026	4,115.eight	62,151.9	iii,668.two	55,393.eight	1.4%	i.3%	7.8%	116.nine%

Economic sectors [edit]

Industry [edit]

2006 electricity production of France

 Other (1.three%)

France was in 2019 the world's eighth largest manufacturer in terms of value added, according to the World Bank.^[63]

A head office of Sanofi in Paris, the world's largest producer of vaccines

The leading industrial sectors in France are telecommunications (including communication satellites), aerospace and defense force, transport edifice (naval and specialist ships), pharmaceuticals, structure and civil applied science, chemicals, textiles, and automobile production. The chemical industry is a fundamental sector for French republic, helping to develop other manufacturing activities and contributing to economic growth.^[64]

Enquiry and evolution spending is besides high in French republic at two.26% of Gdp, the fourth-highest in the OECD.^[65]

Industry contributes to French exports: as of 2018, the Observatory of Economic Complexity estimates that France'southward largest exports "are led by Planes, Helicopters, and/or Spacecraft ($43.8B), Cars ($26B), Packaged Medicaments ($25.7B), Vehicle Parts ($16.5B), and Gas Turbines ($14.4B)."^[66]

Sophia Antipolis is the major applied science hub for the economy of French republic.

Energy [edit]

French republic is the globe-leading country in nuclear energy, dwelling house of global free energy giants Areva, EDF and GDF Suez: nuclear ability now accounts for about 78% of the state's electricity production, upwards from only 8% in 1973, 24% in 1980, and 75% in 1990. Nuclear waste is stored on site at reprocessing facilities. Due to its heavy investment in nuclear power, France is the smallest emitter of carbon dioxide amidst the vii most industrialized countries in the earth.^[67]

In 2006 electricity generated in France amounted to 548.viii TWh, of which:^[68]

• 428.7 TWh (78.i%) were produced by nuclear ability generation
• sixty.9 TWh (eleven.i%) were produced by hydroelectric power generation
• 52.4 TWh (9.5%) were produced past fossil-fuel power generation
  • 21.6 TWh (3.ix%) by coal power
  • 20.9 TWh (3.viii%) by natural-gas power
  • 9.9 TWh (1.8%) by other fossil fuel generation (fuel oil and gases by-products of manufacture such as blast furnace gases)
• vi.9 TWh (1.3%) were produced by other types of power generation (essentially waste-to-energy and wind turbines)
  • The electricity produced past wind turbines increased from 0.596 TWh in 2004, to 0.963 TWh in 2005, and 2.15 TWh in 2006, simply this yet accounts just for 0.4% of the total production of electricity (as of 2006).

In November 2004, EDF (which stands for Electricité de France), the earth's largest utility company and France's largest electricity provider, was floated with huge success on the French stock market place. Notwithstanding, the French state still retains 70% of the capital.

Other electricity providers include Compagnie nationale du Rhône (CNR) and Endesa (through SNET).

Agriculture [edit]

Development of agricultural output of France in 2015 US$ since 1961

A wheat field in Villiers-le-Bâcle. France is the EU's largest agronomical producer.

France is the world's sixth largest agricultural producer and EU'south leading agricultural ability, accounting for well-nigh one-third of all agronomical state inside the EU. In the early on 1980s, French republic was the leading producer of the 3 principal grains of wheat, barley, and maize. Back in 1983, France produced effectually 24.viii million tonnes, which was a long style ahead of the United Kingdom and West Germany, the next 2 largest wheat producers.^[69]

Northern France is characterized by large wheat farms. Dairy products, pork, poultry, and apple tree product are concentrated in the western region. Beef production is located in fundamental French republic, while the product of fruits, vegetables, and wine ranges from key to southern France. French republic is a big producer of many agronomical products and is currently expanding its forestry and fishery industries. The implementation of the Common agricultural policy (CAP) and the Uruguay Round of the Full general Understanding on Tariffs and Merchandise (GATT) accept resulted in reforms in the agricultural sector of the economy.

As the globe's second-largest agronomical exporter, France ranks just after the United states.^[seventy] The destination of 49% of its exports is other EU members states. France likewise provides agricultural exports to many poor African countries (including its former colonies) which face serious food shortages. Wheat, beef, pork, poultry, and dairy products are the principal exports.

Exports from the United States face stiff contest from domestic production, other EU member states, and third-earth countries in France. US agronomical exports to French republic, totaling some $600 million annually, consist primarily of soybeans and soybean products, feeds and fodders, seafood, and consumer products, specially snack foods and basics. French exports to the Us are much more than loftier-value products such as its cheese, candy products and its wine.

The French agricultural sector receives well-nigh €11 billion in EU subsidies. France'southward competitive advantage is by and large linked to the loftier quality and global renown of its produce, such equally cheese and wine.

French republic produced, in 2018, 39.five meg tons of carbohydrate beet (2nd largest producer in the earth, just backside Russian federation), which serves to produce saccharide and ethanol; 35.eight meg tons of wheat (5th largest producer in the world); 12.6 one thousand thousand tons of maize (11th largest producer in the world); 11.two million tons of barley (2d largest producer in the world, only behind Russia); seven.8 one thousand thousand tons of spud (8th largest producer in the world); 6.2 meg tons of grape (5th largest producer in the earth); four.ix million tons of rapeseed (4th largest producer in the earth, behind Canada, China and India); 2.2 1000000 tons of sugarcane; 1.7 meg tons of apple (ninth largest producer in the world); i.3 million tons of triticale (4th largest producer in the world, only behind Poland, Deutschland and Republic of belarus); ane.2 million tons of sunflower seed (ninth largest producer in the world); 712 thousand tons of tomatoes; 660 one thousand tons of linen; 615 thousand tons of dry pea; 535 yard tons of carrot; 427 chiliad tons of oats; 400 yard tons of soy; in addition to smaller productions of other agronomical products.^[71]

Tourism [edit]

The Palace of Versailles is i of the well-nigh pop tourist destinations in France. French republic is the height tourist destination in the world.

France is the globe's virtually popular tourist destination with more than 83.7 meg foreign tourists in 2014,[2] alee of Kingdom of spain (58.five million in 2006) and the United States (51.1 million in 2006). This effigy excludes people staying less than 24 hours in France, such as northern Europeans crossing France on their way to Spain or Italy during the summer.

France is domicile to cities of much cultural interest (Paris being the foremost), beaches and seaside resorts, ski resorts, and rural regions that many enjoy for their dazzler and tranquillity. France also attracts many religious pilgrims to Lourdes, a boondocks in the Hautes-Pyrénées département, which hosts several 1000000 visitors a year.

According to figures from 2003, some popular tourist sites include (in visitors per year):^[72] Eiffel Belfry (half-dozen.2 million), Louvre Museum (5.vii million), Palace of Versailles (two.8 one thousand thousand), Cité des Sciences et de l'Industrie (2.vi meg), Musée d'Orsay (2.1 one thousand thousand), Arc de Triomphe (1.2 million), Centre Pompidou (1.2 meg), Mont-Saint-Michel (ane million), Château de Chambord (711,000), Sainte-Chapelle (683,000), Château du Haut-Kœnigsbourg (549,000), Puy de Dôme (500,000), Musée Picasso (441,000), Carcassonne (362,000). Yet, the well-nigh pop site in France is Disneyland Paris, with 9.7 meg visitors in 2017^[73]

Arms manufacture [edit]

The French artillery industry's main customer, for whom they mainly build warships, guns, nuclear weapons and equipment, is the French government.

Record loftier defence expenditure (currently^{[ when? ]} at €35 billion), which was considerably increased under the government of Prime Minister Jean-Pierre Raffarin, goes largely to the French arms industries.^{[ citation needed ]}

During the 2000–2015 menses, France was the 4th largest weapons exporter in the world.^{[74] [75]}

French manufacturers consign groovy quantities of weaponry to Saudi arabia, the United Arab Emirates, Brazil, Greece, India, Islamic republic of pakistan, Taiwan, Singapore and many others.

Information technology was reported that in 2015, French arms sales internationally amounted to 17.4 billion U.South. dollars,^[76] more than than double the figure of 2014.^[77] Vice News explained that "While the United Kingdom has lapsed somewhat in this regard, France has maintained a high-level of production of military equipment for land, air, and sea defense – an expensive approach that relies on the consign of arms and technology."^[78]

Fashion and luxury appurtenances [edit]

According to 2017 data compiled by Deloitte, Louis Vuitton Moet Hennessey (LVMH), a French brand, is the largest luxury visitor in the world past sales, selling more than twice the amount of its nearest competitor.^[79] Moreover, France too possesses 3 of the top x luxury goods companies by sales (LVMH, Kering SA, L'Oréal), more than any other state in the world.^[79]

Paris is considered ane of the world's foremost fashion capitals, or even "the earth's manner capital".^{[80] [81]}

The French tradition for haute couture has been estimated to start as early on as the era of Louis Xiv, the Sun King.^[82]

Educational activity [edit]

Education in France is organized in a highly centralized mode, with many subdivisions.^[83] It is divided into the three stages of chief teaching (enseignement primaire), secondary instruction (enseignement secondaire), and higher education (enseignement supérieur). In French college didactics, the following degrees are recognized by the Bologna Process (European union recognition): Licence and Licence Professionnelle (bachelor'southward degrees), and the comparably named Master and Doctorat degrees.

The Programme for International Educatee Cess coordinated by the OECD currently ranks the overall noesis and skills of French 15-year-olds equally 26th in the world in reading literacy, mathematics, and science, beneath the OECD average of 493.^[84] French republic'due south performance in mathematics and science at the middle school level was ranked 23 in the 1995 Trends in International Math and Scientific discipline Report.^[85]

Pupils can accept apprenticeships to enter the labour market with the Baccalauréat Technologique. Information technology allows pupils pursue brusque and technical studies (laboratory, design and applied arts, hotel and restaurant, management etc.).

Higher education in France was reshaped by the student revolts of May 1968. During the 1960s, French public universities responded to a massive explosion in the number of students (280,000 in 1962–63 to 500,000 in 1967–68) by stuffing approximately i-3rd of their students into hastily developed campus annexes (roughly equivalent to American satellite campuses) which lacked decent amenities, resident professors, academic traditions, or the dignity of university status.^[86] This is why the French college education economy performs poorly compared with other high-performing countries such equally England or Commonwealth of australia. France also hosts diverse catholic universities recognized past the state, the largest one being Lille Catholic University,^[87] as well branch colleges of foreign universities. They include Baruch Higher, the University of London Plant in Paris, Parsons Paris School of Art and Design and the American University of Paris. Eighteen one thousand thousand pupils and students are in the education organization, over 2.four one thousand thousand of whom are in higher education.^[88]

Transport [edit]

Transportation in French republic relies on one of the densest networks in the world with 146 km of road and 6.2 km of track lines per 100 km². Information technology is congenital every bit a spider web with Paris at its heart.^[89] The highly subsidised rails transport network makes up a relatively small portion of travel, most of which is done past car. However the high-speed TGV trains make up a large proportion of long-altitude travel, partially because intercity buses were prevented from operating until 2015.

With 3,220 kilometers of high-speed train lines, France boast the 2d nigh expansive network in the world, only subsequently China.^[90]

Charles de Gaulle Airdrome is ane of the busiest airports in the world by rider traffic.^[91] Charles de Gaulle airport is tertiary globally in the number of destinations served, and first in the number of countries served with non-finish flights.^[92]

France too boasts a number of seaports and harbours, including Bayonne, Bordeaux, Boulogne-sur-Mer, Brest, Calais, Cherbourg-Octeville, Dunkerque, Fos-sur-Mer, La Pallice, Le Havre, Lorient, Marseille, Nantes, Nice, Paris, Port-la-Nouvelle, Port-Vendres, Roscoff, Rouen, Saint-Nazaire, Saint-Malo, Sète, Strasbourg and Toulon. In that location are approximately 470 airports in France and by a 2005 estimate, there are 3 heliports. 288 of the airports have paved runways, with the remaining 199 beingness unpaved. The national carrier of France is Air French republic, a full service global airline which flies to 20 domestic destinations and 150 international destinations in 83 countries (including Overseas France) across all 6 major continents.

Foreign Investment [edit]

Co-ordinate to a study conducted by Ernst & Young, French republic was in 2020 the largest Foreign Straight Investment recipient in Europe, ahead of the U.k. and Germany.^[31] EY attributed this as a "direct result of President Macron's reforms of labor laws and corporate tax, which were well received by domestic and international investors alike."^[31]

France scored 5th in the 2019 AT Kearney FDI Confidence Index, up 2 notches from its 2017 ranking.^[93]

Labour marketplace [edit]

According to a 2011 report by the American Bureau of Labor Statistics (BLS), France'south GDP per capita at purchasing power parity is similar to that of the United kingdom of great britain and northern ireland, with just over U.s.$35,000 per head.^[94] To explain why French per capita GDP is lower than that of the United states of america, the economist Paul Krugman stated that "French workers are roughly as productive as United states workers", just that the French have a lower workforce participation rate and "when they work, they work fewer hours". Co-ordinate to Krugman, the deviation is due to the French making "different choices about retirement and leisure".^[95]

French republic has long suffered a relatively loftier unemployment rate,^[97] fifty-fifty during the years when its macroeconomic performances compared favorably with other advanced economies.^[98] French employment rates for the working age population is one of the everyman of the OECD countries: in 2020, merely 64.4% of the French working age population were in employment, compared to 77% in Japan, 76.ane% in Germany, 75.4% in the UK, but the French employment rate was higher than that of the Usa, which stood at 62.5%.^[99] This gap is due to the low employment rate for 15–24 years quondam: 38% in 2012, compared to 47% in the OECD.^{[ commendation needed ]}

Since his election in 2017, Emmanuel Macron has introduced several labour market reforms which proved successful in decreasing the unemployment charge per unit before the global COVID-19 recession struck.^[100] In late 2019, the French unemployment charge per unit, though still high compared to other adult economies, was the lowest in a decade.^[101]

During the 2000s and 2010s, classical liberal and Keynesian economists sought out dissimilar solutions to the unemployment issue in France. Keynesian economists'south theories led to the introduction of the 35-hour workweek police in 1999. Between 2004 and 2008, the government attempted to combat unemployment with supply-side reforms, only was met with trigger-happy resistance;^[102] the contrat nouvelle embauche and the contrat première embauche (which immune more flexible contracts) were of item business organisation, and both were eventually repealed.^[103] The Sarkozy regime used the revenu de solidarité active (in-work benefits) to redress the negative effect of the revenu minimum d'insertion (unemployment benefits which exercise not depend on previous contributions, unlike normal unemployment benefits in France) on the incentive to accept even jobs which are bereft to earn a living.^[104] Neoliberal economists attribute the low employment rate, particularly axiomatic amid immature people, to high minimum wages that would prevent low productivity workers from easily entering the labour market place.^[105]

A Dec 2012 New York Times article reported on a "floating generation" in France that formed part of the xiv million unemployed young Europeans documented by the Eurofound research agency.^[106] This floating generation was attributed to a dysfunctional system: "an elitist educational tradition that does not integrate graduates into the work strength, a rigid labour marketplace that is hard to enter for newcomers, and a tax system that makes it expensive for companies to hire full-time employees and both difficult and expensive to lay them off".^[107] In July 2013, the unemployment rate for France was 11%.^[108]

In early on April 2014, employers' federations and unions negotiated an understanding with technology and consultancy employers, as employees had been experiencing an extension of their work time through smartphone communication outside of official working hours. Under a new, legally bounden labour agreement, effectually 250,000 employees will avoid handling work-related matters during their leisure time and their employers will, in plow, refrain from engaging with staff during this time.^[109]

Every twenty-four hour period, about 80,000 French citizens are commuting to piece of work in neighbouring Grand duchy of luxembourg, making information technology the biggest cross-border workforce group in the whole of the European Wedlock.^[110] They are attracted by much higher wages for the different job groups than in their ain country and the lack of skilled labour in the booming Luxembourgish economy.

External trade [edit]

In 2018, France was the 5th largest trading nation in the world, also as the second-largest trading nation in Europe (after Deutschland).^[111] Its foreign trade balance for appurtenances had been in surplus from 1992 until 2001, reaching $25.4 billion (25.four K$) in 1998; however, the French balance of trade was hit by the economic downturn, and went into the blood-red in 2000, reaching a United states$15bn arrears in 2003. Total merchandise for 1998 amounted to $730 billion, or 50% of Gross domestic product—imports plus exports of goods and services. Merchandise with European Marriage countries accounts for 60% of French merchandise.

In 1998, US–France trade stood at about $47 billion – goods only. Co-ordinate to French merchandise data, US exports accounted for 8.seven% – about $25 billion – of France's full imports. Usa industrial chemicals, aircraft and engines, electronic components, telecommunications, reckoner software, computers and peripherals, analytical and scientific instrumentation, medical instruments and supplies, dissemination equipment, and programming and franchising are peculiarly bonny to French importers.

The master French exports to the US are aircraft and engines, beverages, electric equipment, chemicals, cosmetics, luxury products and perfume. France is the ninth-largest trading partner of the Us.

Export in Billion US-Dollar Rank Country[112] Export (2016) 1. Germany 70.1 ii. United States 40.4 3. Kingdom of belgium Luxembourg 36.7 iv. Italia 35.3 5. Great britain 35.3 6. Espana 34.half-dozen 7. China 18.6 8. Netherlands 16.viii 9. Switzerland xvi.ii 10. Japan 8.9 eleven. Poland seven.9 12. Singapore vii.8 13. Turkey 7.v fourteen. Hong Kong 6.4 15. Ireland 6.3 xvi. Russia six.1 17. Sweden 5.7 18. South korea five.vii 19. Algeria 5.3 xx. Portugal 5.iii

Import in Billion Us-Dollar Rank Land[112] Import (2016) 1. Germany 99.8 2. China 47.nine iii. Italia 43.7 four. Kingdom of belgium Luxembourg 41.6 5. The states 37.9 6. Spain 37.1 7. Netherlands 26.four 8. United Kingdom 22.4 ix. Switzerland fifteen.eight 10. Poland ten.iv eleven. Japan x.1 12. Ireland 7.6 13. Czechia seven.6 14. Turkey vii.5 xv. Norway 6.four xvi. Portugal half-dozen.3 17. Sweden vi.0 18. Austria 5.vi nineteen. Republic of india 5.1 twenty. Vietnam five.0

Full Trade in Billion US-Dollar

Rank	Country[112]	Total Trade (2016)
1.	Germany	169.ix
two.	Italy	79.0
3.	United states of america	78.three
4.	Belgium Luxembourg	78.3
five.	Spain	71.7
6.	Communist china	66.5
7.	United Kingdom	57.7
8.	Netherlands	43.2
9.	Switzerland	32.0
x.	Nippon	19.0

Régions economy [edit]

Nominal Gdp per capita, 2015 Eurostat

The economic disparity between French regions is not every bit high every bit that in other European countries such every bit the Uk, Italy or Deutschland, and college than in countries like Sweden or Kingdom of denmark, or even Spain. However, Europe's wealthiest and second largest regional economy, Ile-de-French republic (the region surrounding Paris), has long profited from the upper-case letter city'southward economic hegemony.

The most of import régions are Île-de-France (world'south 4th and Europe 1st wealthiest and largest regional economy), Rhône-Alpes (Europe's 5th largest regional economic system thanks to its services, high-technologies, chemic industries, wines, tourism), Provence-Alpes-Côte d'Azur (services, industry, tourism and wines), Nord-Pas-de-Calais (European transport hub, services, industries) and Pays de la Loire (greenish technologies, tourism). Regions like Alsace, which has a rich past in industry (car tool) and currently stands as a loftier income service-specialized region, are very wealthy without ranking very high in absolute terms.

The rural areas are mainly in Auvergne, Limousin, and Centre-Val de Loire, and wine production accounts for a significant proportion of the economy in Aquitaine (Bordeaux (or blood)), Burgundy, and champagne produced in Champagne-Ardennes.

Rank	Region	Gdp (millions of euros, 2015)[113]	Gross domestic product per capita (euros, 2015)[113] [114]
1	Île de French republic	671,048	55,433
2	Auvergne-Rhône-Alpes	250,197	31,666
iii	Nouvelle-Aquitaine	163,140	27,527
4	Occitanie	159,326	27,497
5	Hauts-de-French republic	157,316	26,170
half-dozen	Provence-Alpes-Côte d'Azur	154,081	30,709
7	Thousand Est	151,880	27,317
8	Pays de la Loire	109,965	29,482
ix	Normandy	91,810	27,495
x	Brittany	91,406	27,684
11	Bourgogne-Franche-Comté	74,074	26,258
12	Center-Val de Loire	70,230	27,226
	Réunion	eighteen,373	21,559
	Guadeloupe	nine,724	22,509
	Martinique	9,289	24,516
thirteen	Corsica	viii,761	26,629
	French Guiana	iv,441	16,777
	Mayotte	ii,309	ix,755

Departments economy and cities [edit]

Departmental income inequalities [edit]

Paris is France's largest urban economy (and the earth's third)

In terms of income, of import inequalities can exist observed among the French départements.

According to the 2008 statistics of the INSEE, the Yvelines is the highest income section of the state with an average income of €4,750 per month. Hauts-de-Seine comes 2nd, Essonne third, Paris 4th, Seine-et Marne 5th. Île-de-France is the wealthiest region in the land with an average income of €iv,228 per calendar month (and is too the wealthiest region in Europe) compared to €3,081 at the national level. Alsace comes second, Rhône-Alpes tertiary, Picardy fourth, and Upper Normandy fifth.

The poorest parts of France are the French overseas departments, French Guiana being the poorest section with an average household income of €ane,826. In Metropolitan France it is Creuse in the Limousin region which comes bottom of the list with an average household income of €1,849 per calendar month.^[115]

Urban income inequalities [edit]

Huge inequalities can also be found amongst cities. In the Paris metropolitan area, significant differences exist between the college standard of living of Paris Ouest and lower standard of living in areas in the northern banlieues of Paris such as Seine-Saint-Denis.

For cities of over 50,000 inhabitants, Neuilly-sur-Seine, a western suburb of Paris, is the wealthiest city in France with an boilerplate household income of €five,939, and 35% earning more than €8,000 per month.^[116] Just within Paris, four arrondissements surpass wealthy Neuilly-sur-Seine in household income: the 6th, the seventh, the 8th and the 16th; the eighth "arrondissement" being the wealthiest district in French republic (the other three following it closely as 2d, tertiary and 4th wealthiest ones).

Poverty [edit]

An OECD study from the early on 1970s estimated that 16% of the French population lived in poverty, compared with thirteen% in the United States, 11% in Canada, 7.5% in the United Kingdom, and 3% in Germany. Other national estimates at the fourth dimension were thirteen% (the The states), 11% (Canada), viii% (Australia), 5% (Norway), and 3.v% (Sweden).^[117]

In comparison with the average French workers, strange workers tended to be employed in the hardest and lowest-paid jobs. They also live in poor conditions. A 1972 written report found that strange workers earned 17% less than their French counterparts, although this national average concealed the extent of inequality. Foreign workers were more probable to be men in their prime working years in the industrial areas, which generally had higher rates of pay than elsewhere.^[117]

Wealth [edit]

Overview [edit]

In 2010, the French had an estimated wealth of US$14.0 trillion for a population of 63 million.^[118]

• In terms of aggregate wealth, the French are the wealthiest Europeans, bookkeeping for more than a quarter of wealthiest European households.^[119] Globally, the French nation ranks fourth-wealthiest.^{[120] [121]}
• In 2010, wealth per French adult was a picayune higher than $290,000, down from a pre-crisis high of $300,000 in 2007. According to this ratio, the French are the wealthiest in Europe. The taxation on wealth is paid past 1.1M of people in France, the payment of this taxation starts when a €1.3M of assets is reached (in that location is a disbelieve on the principal residence value).
• Almost every French household has at least $1,000 in avails.^[122] Proportionally, there are twice equally many French with assets of over $ten,000 and four times as many French with assets of over $100,000 than the world boilerplate.^[123]
• The French are also among the least indebted populations in the developed world with personal debt accounting for "little more than x% of household assets".^[124]

Millionaires [edit]

France has the third-highest number of millionaires in Europe equally of 2017. There were one.617 million millionaire households (measured in terms of US dollars) living in France in 2017, backside the Uk (two.225M) and Germany (ane.637).^[125]

The wealthiest human being in France is the LVMH CEO and owner Bernard Arnault, who according to Forbes briefly held the position of the richest man in the globe at the end of May 2021.

See also [edit]

• Economy of France in French Guiana, French Polynesia, Guadeloupe, Martinique, Mayotte, New Caledonia, Réunion, Saint Barthélemy, Saint Martin, Saint Pierre and Miquelon, Wallis and Futuna
• Revenue enhancement in France
• List of French inventions and discoveries
• Economic history of France
• Economic system of Paris
• Poverty in France

General

• France
• Economic system of Europe
• Economy of the European Wedlock

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112. ^ ^{a b c} (1) Archived 29 March 2019 at the Wayback Machine The Observatory of Economic Complexity (OEC)
113. ^ ^{a b} "Gross domestic product (GDP) at current market place prices by Nuts ii regions". Eurostat. Retrieved 20 August 2020.
114. ^ "Average annual population to calculate regional GDP data (thou persons) by Basics three regions". Eurostat. Retrieved 20 Baronial 2020.
115. ^ [1] Archived 4 November 2011 at the Wayback Automobile
116. ^ "Salaire moyen Neuilly-sur-Seine – 92200 (60501 habitants) : 4649 euros / mois par ménage – Tout savoir sur revenu moyen, salaire net, salaire brut et retraite par ville de France". Salairemoyen.com. Retrieved 27 Nov 2012.
117. ^ ^{a b} Victor George; Roger Lawson (1980). Poverty and inequality in Common Market countries. Routledge & Kegan Paul. ISBN9780710005175.
118. ^ Credit Suisse 2010's Global Wealth Report, p. 32.
119. ^ "Europe as a whole accounts for 35% of the individuals in the global tiptop 1% (of wealthiest households), just French republic itself contributes a quarter of the European contingent." 2010's Global Wealth Written report
120. ^ Rankings: 1st: Usa with $54.6 trillion for 318 million inhabitants; second: Japan with $21 trillion for 127 million inhabitants; tertiary: China with $sixteen.v trillion for 1.331 billion inhabitants; 4th: France with $fourteen.0 trillion for 63 million inhabitants.
121. ^ " Although it has just ane.1% of the globe's adults, France ranks quaternary amongst nations in aggregate household wealth – backside China and just ahead of Germany". 2010'southward Global Wealth Written report. "Archived copy" (PDF). Archived from the original (PDF) on 27 April 2011. Retrieved 4 March 2011. {{cite web}}: CS1 maint: archived copy equally championship (link)
122. ^ 2010's Global Wealth Study, p. 32: "Very few households in French republic are recorded equally having less than US$1000 per adult".
123. ^ 2010'south Global Wealth Report, p. 32: "The proportion with assets over $10,000 is double the world boilerplate, and the proportion with more than than $100,000 is four times the global figure".
124. ^ 2010's Global Wealth Report.
125. ^ "The 18 countries with the most millionaires". Business Insider . Retrieved 19 Dec 2017.

External links [edit]

• National Establish of Statistics and Economical Studies – Insee
• Banque de France
• Globe Depository financial institution: France Merchandise Statistics
• France – OECD
• French republic contour at the CIA World Factbook
• France contour at The World Bank
• France Business Facts

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Source: https://en.wikipedia.org/wiki/Economy_of_France

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