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France Economy 2012

SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES











France Economy 2012
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 27,

Economy - overview:
France is transitioning from an economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms, but is in the midst of a euro-zone crisis. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 75 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 reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011. The unemployment rate increased from 7.4% in 2008 to 9.3% in 2010 and 9.1% in 2011. Lower-than-expected growth and increased unemployment have cut government revenues and increased borrowing costs, contributing to a deterioration of France's public finances. The government budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 5.8% of GDP in 2011, while France's public debt rose from 68% of GDP to 86% over the same period. Paris is implementing austerity measures that eliminate tax credits and freeze most government spending in an effort to bring the budget deficit under the 3% euro-zone ceiling by 2013, and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt levels. President SARKOZY secured passage of pension reform in 2010, but Paris may delay additional, potentially unpopular, reforms until after the 2012 election.

GDP (purchasing power parity):
$2.214 trillion (2011 est.)
country comparison to the world: 10

$2.178 trillion (2010 est.)
$2.148 trillion (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.808 trillion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.7% (2011 est.)
country comparison to the world: 163

1.4% (2010 est.)
-2.6% (2009 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$35,000 (2011 est.)
country comparison to the world: 35

$34,600 (2010 est.)
$34,300 (2009 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 1.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 18.5%
[see also: GDP - composition by sector - industry country ranks ]
services: 79.8% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
29.56 million (2011 est.)
country comparison to the world: 21
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 3.8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 24.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 71.8% (2005)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
9.1% (2011 est.)
country comparison to the world: 103

9.3% (2010 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
6.2% (2004)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 24.8% (2004)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
32.7 (2008)
country comparison to the world: 102

32.7 (1995)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
19% of GDP (2011 est.)
country comparison to the world: 132
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $1.383 trillion
[see also: Budget revenues country ranks ]
expenditures: $1.547 trillion (2011 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
49.2% of GDP (2011 est.)
country comparison to the world: 19
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5.8% of GDP (2011 est.)
country comparison to the world: 165
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
85.5% of GDP (2011 est.)
country comparison to the world: 17

82.4% of GDP (2010 est.)
note: data cover general Government Debt, and includes 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 intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
2% (2011 est.)
country comparison to the world: 20

1.7% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.75% (31 December 2010)
country comparison to the world: 116

1.75% (31 December 2009)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3.6% (31 December 2011 est.)
country comparison to the world: 177

3.373% (31 December 2010 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$951.3 billion (31 December 2011 est.)
country comparison to the world: 7

$887.3 billion (31 December 2010 est.)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.62 trillion (30 October 2011 est.)
country comparison to the world: 7

$2.336 trillion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$4.319 trillion (31 December 2009 est.)
country comparison to the world: 7

$4.121 trillion (31 December 2008 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$1.926 trillion (31 December 2010)
country comparison to the world: 7

$1.972 trillion (31 December 2009)
$1.492 trillion (31 December 2008)
[see also: Market value of publicly traded shares 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:
3.7% (2011 est.)
country comparison to the world: 95
[see also: Industrial production growth rate country ranks ]

Electricity - production:
510 billion kWh (2009 est.)
country comparison to the world: 9
[see also: Electricity - production country ranks ]

Electricity - consumption:
460.9 billion kWh (2008 est.)
country comparison to the world: 9
[see also: Electricity - consumption country ranks ]

Electricity - exports:
44.91 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
25.7 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
84,820 bbl/day (2010 est.)
country comparison to the world: 53
[see also: Oil - production country ranks ]

Oil - consumption:
1.861 million bbl/day (2010 est.)
country comparison to the world: 13
[see also: Oil - consumption country ranks ]

Oil - exports:
487,200 bbl/day (2009 est.)
country comparison to the world: 30
[see also: Oil - exports country ranks ]

Oil - imports:
2.22 million bbl/day (2009 est.)
country comparison to the world: 9
[see also: Oil - imports country ranks ]

Natural gas - production:
721 million cu m (2010 est.)
country comparison to the world: 64
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
49.78 billion cu m (2010 est.)
country comparison to the world: 16
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
2.945 billion cu m (2010 est.)
country comparison to the world: 34
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
46.2 billion cu m (2010 est.)
country comparison to the world: 7
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
6.796 billion cu m (1 January 2011 est.)
country comparison to the world: 84
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$74.3 billion (2011 est.)
country comparison to the world: 196

-$44.5 billion (2010 est.)
[see also: Current account balance country ranks ]

Exports:
$578.4 billion (2011 est.)
country comparison to the world: 6

$517.2 billion (2010 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages

Exports - partners:
Germany 16.4%, Italy 8.2%, Belgium 7.7%, Spain 7.6%, UK 6.8%, US 5.1%, Netherlands 4.2% (2010)

Imports:
$684.6 billion (2011 est.)
country comparison to the world: 6

$588.4 billion (2010 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals

Imports - partners:
Germany 19.3%, Belgium 11.4%, Italy 8%, Netherlands 7.5%, Spain 6.8%, China 5.1%, UK 5% (2010)

Reserves of foreign exchange and gold:
$166.2 billion (31 December 2010 est.)
country comparison to the world: 15

$166.2 billion (31 December 2010 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.633 trillion (30 June 2011)
country comparison to the world: 4

$4.698 trillion (30 June 2010)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$1.186 trillion (31 December 2011 est.)
country comparison to the world: 2

$1.161 trillion (31 December 2010 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.787 trillion (31 December 2011 est.)
country comparison to the world: 2

$1.746 trillion (31 December 2010 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar -

0.7107 (2011 est.)
0.755 (2010 est.)
0.7198 (2009 est.)
0.6827 (2008 est.)
0.7345 (2007 est.)


NOTE: 1) The information regarding France on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of France Economy 2012 information contained here. All suggestions for corrections of any errors about France Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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