France

France

prasson
Prasoon Maurya

Country Expert

France Statistics

The economy of France is highly developed and free-market-oriented. It is the world’s 7th largest economy by 2019 nominal figures and the 10th largest economy by PPP figures. It is the 2nd largest economy in the European Union after Germany.
According to the IMF, in 2018, France was the world’s 19th country by GDP per capita with $42,878 per inhabitant. In 2018, France was listed on the United Nation’s Human Development Index with a value of 0.891 (indicating very high human development) and 21st on the Corruption Perceptions Index in 2018. The OECD is headquartered in Paris, the nation’s financial capital.
$ 1
GDP in lakh crores
1 Crores
Population (2019)
1
Area ( km. sq. )
Import Of France

In 2018 France imported a total of $657B, making it the number 4th trade destination in the world.
Main Import Countries

Export Of France

In 2018 France exported a total of $563B, making it the number 6th exporter in the world.
Main Export Countries

Major Sectors

Energy Agriculture Tourism Arms Industry Fashion Industry Telecommunication

France is the world-leading country in nuclear energy, home of global energy giants Areva, EDF and GDF Suez: nuclear power now accounts for about 78% of the country's electricity production, up 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 among the seven most industrialized countries in the world. The electricity sector in France is dominated by nuclear power, which accounted for 72.3% of total production in 2016, while renewables and fossil fuels accounted for 17.8% and 8.6%, respectively. France has the largest share of nuclear electricity in the world. The country is also among the world's biggest net exporters of electricity.

France is the world's sixth largest agricultural producer and EU's leading agricultural power, accounting for about one-third of all agricultural land within the EU. Northern France is characterized by large wheat farms. Dairy products, pork, poultry, and apple production are concentrated in the western region. Beef production is located in central France, while the production of fruits, vegetables, and wine ranges from central to southern France. France is a large producer of many agricultural products and is currently expanding its forestry and fishery industries. The implementation of the Common Agricultural Policy (CAP) and the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) have resulted in reforms in the agricultural sector of the economy. As the world's second-largest agricultural exporter, France ranks just after the United States. The French agricultural sector receives almost €11 billion in EU subsidies. France's competitive advantage is mostly linked to the high quality and global renown of its produce, such as cheese and wine.

France is the world's most popular tourist destination with more than 83.7 million foreign tourists in 2014, ahead of Spain (58.5 million in 2006) and the United States (51.1 million in 2006). This figure 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 home to cities of much cultural interest (Paris being the foremost), beaches and seaside resorts, ski resorts, and rural regions that many enjoy for their beauty and tranquillity. France also attracts many religious pilgrims to Lourdes, a town in the Hautes-Pyrénées département, which hosts several million visitors a year. However, the most popular site in France is Disneyland Paris, with 9.7 million visitors in 2017.

The French arms industry's main customer, for whom they mainly build warships, guns, nuclear weapons and equipment, is the French government. Record high defence expenditure (€35 billion), which was considerably increased under the government of Prime Minister Jean-Pierre Raffarin, goes largely to the French arms industries. French manufacturers export great quantities of weaponry to Saudi Arabia, the United Arab Emirates, Brazil, Greece, India, Pakistan, Taiwan, Singapore and many others. France has maintained a high-level of production of military equipment for land, air, and sea defence – an expensive approach that relies on the export of arms and technology.

The fashion and apparel industry in France is well established and acknowledged as one of the leading fashion pioneers in the world. France still holds its strong position in the global market and is one of the largest fashion and apparel markets in the EU when it comes to revenue. According to data from the French Fashion Institute (IFM), the fashion industry in France is now worth up to €150 billion, or 2.7% of France’s GDP The revenue of the fashion industry in France amounts to over USD 13 billion a year, and it is expected to surpass USD 20 billion in 2021, representing a CAGR of over 10% from 2017 to 2021. As for textile and apparel production, France ranks as the third-largest in Europe, behind only Italy and Germany. France accounts for over 12% of total textile and apparel sales and 10% of the textile workforce in Europe.

The mobile sector is dominated by four providers, Orange, SFR Group, Bouygues Telecom and Free Mobile, complemented by a good number of MVNOs which together have a market share of subscribers approaching 11%. The MNOs have invested in network infrastructure and technologies in recent years. LTE-A providing data at above 300Mb/s has extensive coverage, while both Orange and Bouygues Telecom are involved in 5G trials. The regulator has also been supportive, having in late 2017 started a procedure to allocate a portion of the 3.5GHz band for 5G in anticipation of that technology coming into commercial use. France also has one of the largest broadband subscriber bases in Europe. Growth in recent years has been bolstered by demand for high bandwidth services, which has prompted considerable investment in fibre infrastructure among Telco’s and regional governments. This has been supported by regulatory measures which have promoted access to Orange's copper and fibre infrastructure for new entrants, as well as a national broadband program which involves an investment of more than €20 billion.

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