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France

France Economy Stats

Overview:

France is in the midst of transition from a well-to-do modern economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms. 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 has weathered the global economic crisis better than most other big EU economies because of the relative resilience of domestic consumer spending, a large public sector, and less exposure to the downturn in global demand than in some other countries. Nonetheless, France's real GDP contracted 2.5% in 2009, but recovered somewhat in 2010, while the unemployment rate increased from 7.4% in 2008 to 9.5% in 2010. The government pursuit of aggressive stimulus and investment measures in response to the economic crisis, however, are contributing to a deterioration of France's public finances. The government budget deficit rose sharply from 3.4% of GDP in 2008 to 7.8% of GDP in 2010, while France's public debt rose from 68% of GDP to 84% over the same period. Paris is terminating stimulus measures, eliminating tax credits, and freezing most government spending 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 - who secured passage of pension reform in 2010 - is expected to seek passage of some tax reforms in 2011, but he may delay additional, more costly, reforms until after the 2012 election.

Definitions

  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget surplus > + or deficit > -: This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition, by sector of origin > Services: This entry is derived from Economy > GDP > Composition, by sector of origin, which shows where production takes place in an economy. The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other private economic activities that do not produce material goods.
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Figures expressed per capita for the same year.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
STAT AMOUNT DATE RANK HISTORY
Budget > Revenues $1.36 trillion 2013 5th out of 223
Budget surplus > + or deficit > - -4.9% of GDP 2012 141st out of 182
Debt > Government debt > Public debt, share of GDP 89.9 CIA 2014 18th out of 153
Exports $567.40 billion 2012 5th out of 189
GDP $2.61 trillion 2012 6th out of 177
GDP > Composition, by sector of origin > Services 79.2% 2012 17th out of 189
GDP > Per capita $31,161.17 per capita 2006 21st out of 180
GDP > Per capita > PPP $35,300.00 2012 24th out of 188
GDP > Purchasing power parity per capita $33,214.81 2010 24th out of 181
GDP per capita $39,771.84 2012 20th out of 177
Gross National Income $1.38 trillion 2001 5th out of 158
Inflation rate > Consumer prices 2.2% 2012 155th out of 199
Population below poverty line 7.8% 2010 44th out of 48
Public debt 90.3% of GDP 2012 17th out of 149
Unemployment rate 9.8% 2012 43th out of 112

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbook 2010, 2011, 2012, 2013; CIA World Factbooks 18 December 2003 to 28 March 2011. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; CIA World Factbooks 18 December 2003 to 28 March 2011

Citation

"France Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/France/Economy

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France Economy Profiles (Subcategories)

Adjusted savings 3 Intellectual property 8
Aid 6 Interest payments 3
Balance of payments 28 International tourism 14
Budget 15 Investment 3
Business 16 Labor force 3
Changes in net 4 Market capitalization of listed companies 4
Commercial service 4 Merchandise 4
Commercial service imports 4 Merchandise imports 4
Commitment to Development Index 4 Micro 4
Companies 30 National accounts 104
Consumption 10 Natural gas 8
Currency 15 Net capital account 4
Current account balance 5 Net current transfers 4
Current transfers 4 Net current transfers from abroad 6
Debt 51 Net errors and omissions 4
Economic aid 3 Net income 4
Economic growth 8 Net income from abroad 6
Economic structure 4 Net trade in goods 4
Electricity 8 Net trade in goods and services 4
Entrepreneurship 12 Oil 10
Exports 3 Portfolio investment 4
External balance on goods and services 7 Poverty 3
Final 20 Poverty and inequality 6
Financial sector 27 Productivity 7
Foreign direct investment 14 Public expenditure 4
GDP 42 Purchasing power parity 11
GDP growth 4 Reserves 6
GDP per capita 4 Retail 3
GNI 12 Royalty and license fees 8
Goods 4 Savings 44
Goods imports 4 Service 4
Government 17 Service imports 4
Government debt 4 Services 10
Government deficits and debt 4 Spending 73
Government spending 5 Steel 4
Gross capital formation 10 Stock of direct foreign investment 6
Gross domestic savings 6 Stocks traded 5
Gross fixed capital formation 10 Support and aid 4
Gross national expenditure 9 Tax 79
Gross savings 6 Taxes 3
Gross value added at factor cost 9 Total 9
High-technology 4 Tourism 21
Household final 23 Tourism expenditures 5
Income 24 Tourism receipts 5
Income distribution 4 Tourist arrivals by region of origin 7
Income payments 4 Trade 1684
Income receipts 4 Trademark applications 4
Inequality 13 Transnational corporations 4
Inflation 10 Welfare 5
Innovation 38
  • France ranked first for GDP amongst Catholic countries in 2012.
  • France ranked first for tourist arrivals amongst Christian countries in 2008.
  • France ranked second for exports amongst Europe in 2012.
  • France ranked first for budget > revenues amongst Tourist destinations in 2013.
  • France ranked first for tourist arrivals by region of origin > europe globally in 2005.
  • France ranked first for tourism > international tourism, number of arrivals amongst Heavily indebted countries in 2011.
  • France ranked first for companies > trademark applications, total amongst European Union in 2011.
  • France ranked third last for GDP per capita amongst Group of 7 countries (G7) in 2012.
  • France ranked first for unemployment rate amongst Non-religious countries in 2012.
  • France has had the highest international tourism > number of arrivals since 1995.