An Overview of the Economy
France has one of the largest economies in the world, with its
GDP (at official exchange rate) valued at US$2.56 trillion.
Economically, France is maturing into an economy reliant on market
mechanisms rather than government intervention, with increasing
privatisation in certain sectors and reduced governmental
influence. Accounting for 50% of the country's GDP, French tax is
high, compared to the British tax contribution of 42%. Yet Sarkozy
is trying to redress the situation. Various tax reforms are planned
that, if all are implemented, will have a great effect on citizens'
taxes, the economy and many other elements of French life.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
2.0 |
| GDP (PPP) (CIA) (US$Billions) |
2.0 |
| GDP Growth (IMF) (%) |
1.9% |
| GDP Growth (CIA) (%) |
1.9% |
| GDP Per Capita (PPP) (IMF) (US$) |
33,187 |
| GDP Per Capita (PPP) (CIA) (US$) |
33,200 |
| GDP by Sector (%) |
Agriculture: 2.2%
Services: 76.7%
Industry: 21% |
| Inflation (%) |
1.6% |
| Population Below the Poverty Line (%) |
6.2% |
| Labour Force (Millions) |
27.8 |
| Labour Force by Occupation (%) |
Agriculture: 4.1%
Services: 71.5%
Industry: 24.4% |
| Unemployment (%) |
8.3% |
| Main Industries |
Machinery, chemicals, automobiles,
metallurgy, aircraft, electronics, textiles,
food processing, tourism. |
Sources: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
1,804.6 |
2,061.1 |
2,137.5 |
2,252.1 |
2,560.3 |
| GDP Growth (%) |
1.0% |
0.5% |
2.1% |
1.2% |
1.9% |
| GDP Per Capita (US$) |
29,144 |
33,048 |
33,925 |
35,404 |
41,511 |
| GDP Per Capita (PPP) (US$) |
25,700 |
27,600 |
28,700 |
29,600 |
33,200 |
| Inflation (%) |
1.8% |
2.1% |
2.3% |
1.2% |
1.6% |
| Unemployment (%) |
9.1% |
9.7% |
10.1% |
9.9% |
8.3% |
Foreign-Exchange
& Gold Reserves (US$Billions) |
70.8 |
70.8 |
74.4 |
98.5 |
98.2 |
| Mobile Phone Users |
11,078,000 |
41,683,000 |
48,058,000 |
49,058,000 |
53,023,000 |
| Internet Users |
16,970,000 |
21,900,000 |
21,900,000 |
29,250,000 |
31,297,000 |
Sources: CIA World Factbook, IMF
Major Exports & Imports
France is the most visited country in the world with at least 75
million visitors a year, and as such receives the third largest
income in the world from tourism (according to the CIA World
Factbook). Other export commodities include machinery, plastics,
chemicals, pharmaceuticals and perishable goods. It is the second
largest trading nation in Western Europe.
Major Exports 2007
Machinery and transportation equipment, aircraft, plastics,
chemicals, pharmacuetical products, iron, steel and beverages.
MAjor imports 2007
Machinery and equipment, vehicles, crude oil, aircraft, plastics
and chemicals.
| export partners |
% of total |
| Germany |
15.6% |
| Spain |
9.6% |
| Italy |
8.9% |
| UK |
8.3% |
| Belgium |
7.3% |
| US |
6.6% |
| Netherlands |
4.0% |
| import partners |
% of total |
| Germany |
18.9% |
| Belgium |
11.1% |
| Italy |
8.4% |
| Spain |
7.0% |
| Netherlands |
6.8% |
| UK |
6.6% |
| US |
4.6% |
Source: CIA World Factbook
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