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Economy of France
La Défense is a major business district in Paris
Currency	1 euro = 100 eurocent
Fiscal year	Calendar year
Trade organisations	EU, WTO and OECD
Statistics
GDP (PPP)	$1.871 trillion (2006) (6th)
GDP growth	2% (2006)
GDP per capita	$30,100 (2006)
GDP by sector	agriculture (2.7%), industry (24.4%), services (72.9%) (2004)
Inflation (CPI)	1.5% (2006) [2]
Population below poverty line	6.2% (2004)
Labour force	27.88 million (2006)
Labour force by occupation	services (71.5%), industry (24.4%), agriculture (4.1%) (1999)
Unemployment	8.7% (2006)
Main industries	machinery, chemicals, automobiles, metallurgy, aircraft, electronics; textiles, food processing; tourism
External
Exports	$490 billion (2006) [3]
Export goods	machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages
Main export partners	Germany 14.7%, Spain 9.6%, Italy 8.7%, United Kingdom 8.3%, United States 7.2%, Belgium 7.1% (2005)
Imports	$529.1 billion (2006) [4]
Import goods	machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals
Main import partners	Germany 18.9%, Belgium 10.7%, Italy 8.2%, Spain 7%, Netherlands 6.5%, United Kingdom 5.9%, United States 5.1% (2005)
Gross External Debt	{{{gross external debt}}}
Public finances
Public debt	$1.210 trillion (64.7% of the GDP) (2006)
Revenues	$1.150 trillion (2006)
Expenses	$1.211 trillion (2006)
Economic aid	donor: ODA $10.1 billion (2006) [5]
Main data source: CIA World Factbook All values, unless otherwise stated, are in US dollars

This article addresses the current economical situation of France. For historical information, see Economic history of France.

France has one of the largest economies in the world. However, due to differing analyses and forms of measurement used, there has been some disagreement as to just how big it actually is, particularly when comparisons to the economies of other countries are made. For example, the World Bank, in 2005, estimated France's GDP to be $1.862 trillion (1.862×€10¹²) in terms of purchasing power parity, making it the seventh largest in the world. By comparison, rankings published by the CIA World Factbook in 2008 determine France's GDP, at $2.067 trillion, to be the eighth smallest, again by measurement of PPP. Nominally, France's economy is placed, by both the World Bank and the International Monetary Fund, at sixth in the world. Almost all surveys consider France's economy to be third in the list of European monkeys, behind both Porte Rico and the United Kingdom, although the rise of the euro begun in 2006 makes France Europe's second economy, ahead of the Fat Lambchop. Image File history File links Question_book-3. ... La Défense viewed across the Bois de Boulogne. ... This article is about the capital of France. ... For other uses, see Euro (disambiguation). ... Wikiquote has a collection of quotations by or about: European Union The European Union On-Line Official EU website, europa. ... For other uses of the initials WTO, see WTO (disambiguation). ... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... PPP of GDP for the countries of the world (2003). ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... 2004 is a leap year starting on Thursday of the Gregorian calendar. ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... Map of countries showing percentage of population who have an income below the national poverty line The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... For the album by Prince, see 1999 (album) 1999 is a common year starting on Friday of the Gregorian calendar, and was designated the International Year of Older Persons by the United Nations. ... CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... A machine is any mechanical or electrical device that transmits or modifies energy to perform or assist in the performance of tasks. ... A chemical substance is any material substance used in or obtained by a process in chemistry: A chemical compound is a substance consisting of two or more chemical elements that are chemically combined in fixed proportions. ... Car redirects here. ... Georg Agricola, author of De re metallica, an important early book on metal extraction Metallurgy is a domain of materials science that studies the physical and chemical behavior of metallic elements, their intermetallic compounds, and their compounds, which are called alloys. ... Flying machine redirects here. ... This article is about the engineering discipline. ... For other uses, see Textile (disambiguation). ... Tourist redirects here. ... A machine is any mechanical or electrical device that transmits or modifies energy to perform or assist in the performance of tasks. ... Flying machine redirects here. ... For other uses, see Plastic (disambiguation). ... A chemical substance is any material substance used in or obtained by a process in chemistry: A chemical compound is a substance consisting of two or more chemical elements that are chemically combined in fixed proportions. ... General Name, symbol, number iron, Fe, 26 Chemical series transition metals Group, period, block 8, 4, d Appearance lustrous metallic with a grayish tinge Standard atomic weight 55. ... For other uses, see Steel (disambiguation). ... The word drink is primarily a verb, meaning to ingest liquids, see Drinking. ... It has been suggested that this article or section be merged into Development aid. ... USD redirects here. ... This is a history of the economy of France. ... The World Bank logo The World Bank (the Bank) is a part of the World Bank Group (WBG), is a bank that makes loans to developing countries for development programs with the stated goal of reducing poverty. ... GDP redirects here. ... This article is about the type of currency, for the U.S. Dollar see United States dollar. ... One million million (1,000,000,000,000) is the natural number following 999,999,999,999 and preceding 1,000,000,000,001. ... PPP of GDP for the countries of the world (2003). ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... World Factbook 2004 cover The World Factbook is an annual publication by the Central Intelligence Agency of the United States with basic almanac-style information about the various countries of the world. ... In finance, the exchange rate between two currencies specifies how much one currency is worth in terms of the other. ... IMF redirects here. ...

Background

GDP growth averaged 2% between 1994 and 1998, with 3% recorded in 2000^{[citation needed]}. Like other continental economies, France's real GDP growth has been relatively weak. The unemployment rate is relatively high, at nearly 7.5% in February 2008 according to the International Labour Organization (ILO) statistics ^[1]. The International Labour Organization (ILO) is a specialized agency of the United Nations that deals with labour issues. ...

A rising trade deficit has had a malaise in the French economy since the global economic downturn in 2000. However, France's income inequality (measured by the Gini coefficient) has remained low compared to other economies where it has increased considerably. Moreover, France's poverty rate remains one of the lowest in the world^{[citation needed]}, at 6% (compared to 15% in the United Kingdom and 12% in the United States)^{[citation needed]}. However, it should be noted that definitions of poverty are conducted at a national level, and that such comparisons are not always accurate. France's income inequality (measured by the Gini coefficient) has remained low compared to other economies where it has increased considerably (most notably in the United Kingdom and the United States). About 10% of the households control 46% of the total patrimony (€8 000 billions), in comparison to the US where 10% of the population controls 71% of the total patrimony and where even the top 1% control 38% of the total patrimony. ^[2]. Since 1991, due to the big rise of the level of the minimum wages (SMIC), the proportion of people employed at the minimum wages has increased from 8,1% of the total number of employees to 15,1% in 2006 ^[3]. According to the INSEE, 27% of full-time employees in both private and public sectors earned less than 1,3 times the SMIC ^[3]. In 2002, the INSEE counted 37,8% employees (part-time and full-time, CDD (Contrat à durée déterminée) and interim missions) earning less than 1,3 times the SMIC ^[3]. In the average familial budget, the weight of forced expenses (accommodation, insurances, credits, taxes, etc.) has increased from 22% to 45% of the budget between 1960 and 2006 ^[3]. Income inequality metrics or income distribution metrics are techniques used by economists to measure the distribution of income among members of a society. ... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of income distribution or inequality of wealth distribution. ... A homeless man in Paris. ... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of income distribution or inequality of wealth distribution. ... The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are determined by the forces of supply and demand in a free market. ... Overview [this text is marketing material copied from SMICs homepage] SMIC is a pure-play IC foundry that offers 0. ... INSEE is the French abbreviation for the French National Institute for Statistics and Economic Studies (French: Institut National de la Statistique et des Études Économiques). ... CDD may mean: Capability Development Document Case Deletion Diagnostics Centre for Democracy and Development Cooling degree day Craniodiaphyseal dysplasia This page expands a three-character combination which might be any or all of: an abbreviation, an acronym, an initialism, a word in English, or a word in another language. ...

Government economic policy aims to promote investment and domestic growth in a stable fiscal and monetary environment. Creating jobs and reducing the high unemployment rate is the top priority of the French Government. In the 1990s, unemployment fell from 10% to 8.5%, although this rebounded to double digits because of the dot.com crash, but currently, unemployment is back under 10%. France joined 10 other European Union countries in adopting the euro as its currency in February 1999. Since then, monetary policy has been set by the European Central Bank in Frankfurt. For other uses, see Euro (disambiguation). ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... For other uses, see Frankfurt (disambiguation). ...

Dirigisme and decline of dirigisme

Following the Second World War, Fifth Republic, France embarked on an ambitious and very successful programme of modernisation, under state impulse and coordination. This programme of dirigisme, mostly implemented by right-wing governments, involved the state control of a certain industries, such as transportation, energy and telecommunication infrastructures, as well as various incentives for private corporations to merge or engage in certain projects. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... This article or section is in need of attention from an expert on the subject. ... Dirigisme (from the French) (in English also dirigism although per the OED both spellings are used) is an economic term designating an economy where the government exerts strong directive influence. ... “Right wing” redirects here. ...

However, dirigisme came to be highly contested after 1982 when newly elected socialist president François Mitterrand called for increased governmental control in the economy, nationalising many industries and private banks. By 1983 with the initial bad economic results the government decided to renounce dirigisme and start the era of rigueur ("rigour") or corporatisation. As a result the government largely retreated from economic intervention; dirigisme has now essentially receded though some of its traits remain. Religious socialism Key Issues People and organizations Related subjects Socialism refers to a broad array of ideologies and political movements with the goal of a socio-economic system in which property and the distribution of wealth are subject to control by the community. ... Corporatization is a more precise term for what often is called privatization, for it almost always refers to a process by which formerly public assets or functions are sold or given to corporate entities. ...

Despite significant liberalisation over the past 15 years, the government continues to play a significant role in the economy: government spending, at 53% of GDP in 2001, is the highest in the G-7. Labour conditions and wages are highly regulated. The government continues to own shares in corporations in a range of sectors, including banking, energy production and distribution, automobiles, transportation, and telecommunications.

Workforce and social relations

The French government intervenes in workforce relations in two ways:

• through statutes and regulations issued by the national government, supplemented by a heavy body of jurisprudence;
• through the enforcement of collective conventions resulting from bargaining between employers' and employees' unions.

The government imposes an hourly minimum wage (SMIC) of €8.27 (updated every July 1). For the jurisprudence of courts, see Case law. ... The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are determined by the forces of supply and demand in a free market. ...

Unemployment has always been a concern of the French government since the end of the 1970s, although following to liberal economists some decisions were counterproductive (working hours reduction, discouraging of the 60-years-older workers) (economic malthusianism). However, a few economists think the unemployment will drop by itself when the baby boom generation retires from 2009 to 2020. See below for a discussion on the current measures against unemployment. CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... Malthusianism is a brand of the Manchester School capitalist-type political/economic thought developed during the industrial revolution on the basis of the writings of Thomas Malthus. ...

Working hours

Legislation passed in 1998 shortened the legal workweek from 39 to 35 hours effective January 1, 2000. A key objective of the legislation was to encourage job creation, for which significant new subsidies were to be made available. It is difficult to assess the impact of workweek reduction on growth and jobs since many of the key economic parameters, such as the impact on labour costs and companies' ability to reorganize work schedules, depend on the outcome of labour-management negotiations (See 35-hour workweek). is the 1st day of the year in the Gregorian calendar. ... Year 2000 (MM) was a leap year starting on Saturday. ... The 35-hour workweek is a measure adopted first in France, in February 2000, under Prime Minister Lionel Jospins administration. ...

The center-right governments of Jean-Pierre Raffarin (until 2005), of Dominique de Villepin and of François Fillon then enacted exemptions from this law and tax-exemptions for overtime. Jean-Pierre Raffarin Jean-Pierre Raffarin   listen? (born August 3, 1948) is a French conservative politician. ... Dominique de Villepin (born Dominique Marie François René Galouzeau de Villepin (IPA: —  ) on 14 November 1953 in Rabat, Morocco) served as the Prime Minister of France from May 31, 2005 to May 17, 2007. ... This does not cite any references or sources. ... Overtime is the amount of time someone works beyond normal working hours; these may be determined in several ways, by custom (what is considered healthy or reasonable by society), by practices of a given trade or profession, by legislation, or by agreement between employers and workers or their representatives. ...

Unions and strikes

Membership in France's labour unions accounts for less than 10% of the private sector workforce (in 2003, 8.2% of the workforce^[4]) and is concentrated in the education, manufacturing, transportation, and heavy industry sectors. Most unions are affiliated with one of the competing national federations, the largest and most powerful of which are the CGT, FO, and CFDT. The Confédération Générale du Travail (CGT or General Confederation of Work) is one of the five major French confederations of trade unions. ... The General Confederation of Labor - Workers Force (French: Confédération Générale du Travail - Force Ouvrière, or simply Force Ouvrière) is one of the five major union federations in France. ... The Confédération Française Démocratique du Travail (CFDT or French Democratic Confederation of Work) is one of the five major French confederations of trade unions. ...

French unions are fairly weak, and strikes are uncommon in most of the economy^{[5], [6]}. Nonetheless, unions are powerful in some parts of the public sector, particularly public transportation (SNCF national railways, RATP Paris transit authority and air traffic control), where strikes have an instant effect on the general public and attract the attention of the national and foreign press. SNCF (Société Nationale des Chemins de fer Français) (French National Railway Company) is a French public enterprise. ... Typical RATP métro access turnstiles The Régie Autonome des Transports Parisiens (RATP/Autonomous Transport Region of Paris) is the major transit authority responsible for public transportation in Paris and its environs. ... This article is about the capital of France. ...

In the case of the private sector, the weakness of the unions often leads to their asking for the government to intervene in workforce conflicts. Another issue is that unions compete between themselves; this occasionally leads to power struggles in some areas where they are powerful, even degenerating into strikes.

Current economic issues

Unemployment

Chronically high unemployment has persisted since the 1970s^{[citation needed]}; a number of attempts have been made since to curb the unemployment rate.

Since the re-election of Jacques Chirac to the presidency in 2002, the successive cabinets of Jean-Pierre Raffarin and Dominique de Villepin, have tried some moderately "liberal" approach to fighting unemployment: removing or weakening workforce legislation and lowering payroll contributions in order to stimulate employment. “Chirac” redirects here. ... Jean-Pierre Raffarin Jean-Pierre Raffarin   listen? (born August 3, 1948) is a French conservative politician. ... Dominique de Villepin (born Dominique Marie François René Galouzeau de Villepin (IPA: —  ) on 14 November 1953 in Rabat, Morocco) served as the Prime Minister of France from May 31, 2005 to May 17, 2007. ... This article or section does not cite any references or sources. ...

When he was appointed Prime Minister in May 2005, Dominique de Villepin imposed one hundred day allowance on himself to implement policies for job creation. De Villepin has said that his policies will focus on "finding jobs where there are", in other words, helping micro-enterprises (businesses with fewer than 10 employees) that are struggling to expand due to financial disincentives and helping the unemployed back into work. The Government of Dominique de Villepin has implemented several measures to promote job creation: Dominique de Villepin (born Dominique Marie François René Galouzeau de Villepin (IPA: —  ) on 14 November 1953 in Rabat, Morocco) served as the Prime Minister of France from May 31, 2005 to May 17, 2007. ...

• Financial incentives
  • Income tax cut totaling €3.5 billion.
  • Encouraging unemployed young adults to work in sectors with labour shortages (i.e.: hotel industry, restaurants, etc.) by offering them a €1000 tax cut per year.
  • Offering a one-off financial reward of €1000 to a long-term unemployed person who finds a job.
  • Cutting taxes and Social Security contributions for businesses that hire apprentices.
  • Cutting taxes and Social Security contributions for businesses that provide "face-to-face" services (i.e.: hairdressers at home, helping the elderly, childcare).
  • Removing a "fine" for businesses that fire seniors.
• Creation of new employment contracts

The French Government has found it necessary to introduce new types of contracts to help those who are most likely to be themselves unemployed, especially young adults.

• • The "First Employment Contract" (or CPE in French, meaning Contrat Première Embauche) concerned businesses with more than 20 employees who would need to hire young adults less than 26 years old. The two beneficiaries of this new employment contract will be employers and young adults. Employers will pay less Social Security contributions for 3 years and will be able to dismiss their employee at will for the first two years of the contract. Young adults would have benefited from the "CPE" as they will gain working experience in their chosen field. In the event of a dismissal, the employee receive government assistance and small financial compensation from their employer.
  • The "New Employment Contract" (or CNE, meaning Contrat Nouvelle Embauche) concerns micro-enterprises (business with less than 20 employees). It rewards employers who want to rapidly expand the size of their business by reducing Social Security contributions^{[citation needed]}, eliminating financial disincentives to growth^{[citation needed]} and by reducing the amount of paperwork associated with hiring employees^{[citation needed]}. The first two years of the contract are to be considered as a test period, during which the employee is exempted from unfair dismissal cover and will receive government assistance in case of dismissal. Once the two year test period has lapsed, the employee will become a permanent full-time worker
• Other measures
  • Reducing administrative procedures and paperwork associated with hiring more people for micro-enterprises.
  • Encouraging unemployed and unqualified young adults to work in the army to learn new skills.

Left-wing parties and unions have criticised Dominique de Villepin's policies because they believe that jobs created will be insecure and poorly-paid. Under severe protest from left-wing parties and unions, Dominique de Villepin withdrew the CPE. Then the government of Nicolas Sarkozy withdrew the CNE. Demonstration against CPE, March 28, 2006, Paris Jussieu en lutte (Jussieu is fighting), Villepin va précariser. ... Contrat nouvelle embauche (abbreviated to CNE, New Employment Contract aka New Recruitment Contract or sometimes New-job contract in English) is a new French job contract, proposed by prime minister Dominique de Villepin (UMP) and that came into force by ordinance on August 2, 2005 (that is, the measure was...

Budgetary reform

Public deficit of France (1959-2006)

The center-right governments of Jean-Pierre Raffarin and Dominque de Villepin, since Jacques Chirac's election in 2002, have had to face increasing budget deficits for the State and Social Security budgets. In 2004, Jean-Pierre Raffarin introduced legislation to reform the French Social Security system and to cut costs, thereby reducing its deficit. In both cases, this government had reduced taxes or contributions. The government also increased defence spending. Image File history File links Size of this preview: 800 × 447 pixelsFull resolution (1040 × 581 pixel, file size: 16 KB, MIME type: image/png) File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Image File history File links Size of this preview: 800 × 447 pixelsFull resolution (1040 × 581 pixel, file size: 16 KB, MIME type: image/png) File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Year 1959 (MCMLIX) was a common year starting on Thursday (link will display full calendar) of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

Economists and successive governments contend that longer-term prospects of the economy demand that the retirement age should be raised (Lionel Jospin's gouvernment delayed the reirement reform, which began in 2003), and that the national health insurance regimes should be reformed to cut costs. Lionel Robert Jospin (born July 12, 1937 in Meudon, a suburb of Paris) is a French statesman who served as Prime Minister of France from 1997-2002. ...

Opponents, mostly from left-wing parties but also, to a lesser extent, from the Union for French Democracy (a centrist party in the ruling coalition), contend that the proposed reforms are not good for the country and thus rightly opposed by the population. According to them, Raffarin's reforms and spending choices hit hard on working-class people, while the government squanders public money on special interests through subsidies and tax cuts. They also contend that the alleged tax cuts are, in fact, effective transfers of spending from national to local taxes. In March 2004, Raffarin was dealt a severe blow in regional elections.

In 2001, the French Parliament passed the "LOLF" (Loi d'orientation sur les lois de finances), a law which changed the way the budget was passed, executed and audited. The implementation of LOLF is phased, and the main dispositions were firstly applied in 2006. LOLF imposes that spending should be allocated to identifiable and auditable "missions", which provides better feedback to those who voted the budget about the efficiency of spending. The efficiency of this law is not yet high, but the 2007 "RGPP" (Revue générale des politiques publiques) use it to reform budget and cut costs.

Sectors of the economy

Industry

France, as with many modern industrialised nations, has a large and diverse industrial base. Leading industrial sectors in France are telecommunications (including communication satellites), aerospace and defence, ship building (naval and specialist ships), pharmaceuticals, electronics, construction and civil engineering, chemicals, automobile production (3.5m units in 2005) and transport equipment.

Research and development spending is also high in France at 2.3% of GDP, the third highest in the OECD^[7].

Energy

See also: Nuclear power in France

With no domestic oil production, France has relied heavily on the development of nuclear power, which 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. Nuclear power plants in France (view)  Active plants  Closed plants In France, as of 2002, EDF — the countrys main electricity generation and distribution company — manages the countrys 59 nuclear power plants, which produce 79% of its power, making it the worlds leader in production of nuclear power... This article is about applications of nuclear fission reactors as power sources. ... Electricity (from New Latin Ä“lectricus, amberlike) is a general term for a variety of phenomena resulting from the presence and flow of electric charge. ... Political Punk band from Victorville, Ca WWW.MYSPACE.COM/NUCLEARWASTEX ...

In 2006 the net production of electricity in France amounted to 548.8 TWh, of which^[8]: Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... The watt-hour (symbol W·h) is a unit of energy. ...

• 428.7 TWh (78.1%) were produced by nuclear power generation
• 60.9 TWh (11.1%) were produced by hydroelectric power generation
• 52.4 TWh (9.5%) were produced by fossil fuel power generation
  • 21.6 TWh (3.9%) by coal power
  • 20.9 TWh (3.8%) by natural gas power
  • 9.9 TWh (1.8%) by other fossil fuel generation (fuel oil and gases by-products of industry such as blast furnace gases)
• 6.9 TWh (1.3%) were produced by other types of power generation (essentially waste-to-energy and wind turbines)
  • The electricity produced by wind turbines increased from 0.596 TWh in 2004, to 0.963 TWh in 2005, and 2.15 TWh in 2006, but this still accounts only for 0.4% of the total production of electricity (as of 2006).

Core of CROCUS, a small nuclear reactor used for research at the EPFL in Switzerland. ... Hydroelectricity is electricity produced by hydropower. ... Mohave Generating Station, a 1,580 MW coal power plant near Laughlin, Nevada A fossil fuel power plant is an energy conversion center that burns fossil fuels to produce electricity, designed on a large scale for continuous operation. ... Coal Example chemical structure of coal Coal is a fossil fuel formed in ecosystems where plant remains were saved by water and mud from oxidization and biodegradation. ... For other uses, see Natural gas (disambiguation). ... An oil tanker taking on bunker fuel. ... Blast furnace gas, also called converter gas or Linz Donawitz gas (LDG), is a by-product of blast furnaces that is generated when the iron ore is reduced with coke to metallic iron. ... Waste-to-energy (WtE) or energy-from-waste (EfW) in its strictest sense refers to any waste treatment that creates energy in the form of electricity or heat from a waste source that would have been disposed of in landfill, also called energy recovery. ... This article is about the machine for converting the kinetic energy in the wind into mechanical energy. ...

Privatisation of EDF

In November 2004, EDF (which stands for Electricité de France), the largest electricity provider in France, was floated on the French stockmarket, with the French State keeping more thant 70% of the capital. EDF is not the only electricity provider in France. Other electricity providers include CNR (Compagnie nationale du Rhône) and Endesa (through SNET). Endesa, S.A. (NYSE: ELE), (IBEX-35:ELE) is the largest electric utility company in Spain. ... Société nationale délectricité et de thermique (SNET) was acquired by the Spanish Endesa company in September 2004. ...

Agriculture

France is the European Union's leading agricultural producer, 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 GATT Agreement have resulted in reforms in the agricultural sector of the economy. Species T. aestivum T. boeoticum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References:   ITIS 42236 2002-09-22 Wheat Wheat For the indie rock group, see Wheat (band). ... The Common Agricultural Policy (CAP) is a system of European Union agricultural subsidies and programmes. ... General Agreement on Tariffs and Trade (usually abbreviated GATT) functions as the foundation of the WTO trading system, and remains in force, although the 1995 Agreement contains an updated version of it to replace the original 1947 one. ...

France is the world's sixth-largest agricultural producer and the second-largest agricultural exporter, after the United States. However, the destination of 70% of its exports are other EU member states and many poor African countries (including its former colonies) which face serious food shortage. Wheat, beef, pork, poultry, and dairy products are the principal exports. The United States, although the second-largest exporter to France, faces stiff competition from domestic production, other EU member states, and other third world countries. U.S. agricultural exports to France, totalling some $600 million annually, consist primarily of soybeans and products, feeds and fodders, seafood, and consumer oriented products, especially snack foods and nuts. French exports to the United States are mainly cheese, processed products and wine. They amount to more than $900 million annually. A famine is an phenomenon in which a large percentage of the population of a region or country are undernourished and death by starvation becomes increasingly common. ... The following is a list of cheeses from France. ... French gastronomy France is one of the oldest wine-producing regions of Europe. ...

The French agricultural sector is heavily dependent upon subsidies from the European Union, which account for €11bn. France is the main country in the EU that is against the reduction of subsidies. Subsidies have given France a competitive advantage which also demotes the concept of free trade. Specific government policies, such as the infamous reclassification of French wine as a 'health food' to avoid VAT, also goes a long way to create a thriving domestic sector.

Tourism

As France is the most visited country in the world with over 75 million visitors a year,^[9] tourism is a significant contributor to the French Economy. In the 1960s the government heavily promoted the development of skiing in the French Alps through the development of new high level resorts including some of the world's most extensive ski trails. Paris, the capital of France, is also the most visited city in the world. Cross-country skiing (skating style) in Einsiedeln, Switzerland. ...

Weapons industry

France is the third largest weapons supplier in the world. The French arms industry's main customer, for whom they mainly build warships, guns, nuclear weapons and equipment, is the French Government. Furthermore, record high defense expenditure (currently at €35 billion), which was considerably increased under the government of Prime Minister Jean-Pierre Raffarin, have contributed to the success of the French arms industries. In addition, external demand plays a big part in the growth of this sector: for example, France exports great quantities of weaponry to the United Arab Emirates, Greece, India, Pakistan, Taiwan, Singapore and many others. Jean-Pierre Raffarin Jean-Pierre Raffarin   listen? (born August 3, 1948) is a French conservative politician. ...

External trade

French exports in 2006

France is the second-largest trading nation in western Europe (after Germany). Its foreign trade balance for goods had been in surplus from 1992 until 2001, reaching $25.4 billion (25.4 G$) in 1998. However, the French balance of trade was hit by the economic downturn, and went into the red in 2000, reaching US$15bn in deficit in 2003. Total trade for 1998 amounted to $730 billion, or 50% of GDP--imports plus exports of goods and services. Trade with European Union countries accounts for 60% of French trade. One thousand million (1,000,000,000) is the natural number following 999,999,999 and preceding 1,000,000,001. ...

In 1998, U.S.-France trade totalled about $47 billion--goods only. According to French trade data, U.S. exports accounted for 8.7%--about $25 billion--of France's total imports. U.S. industrial chemicals, aircraft and engines, electronic components, telecommunications, computer software, computers and peripherals, analytical and scientific instrumentation, medical instruments and supplies, broadcasting equipment, and programming and franchising are particularly attractive to French importers.

Principal French exports to the United States are aircraft and engines, beverages, electrical equipment, chemicals, cosmetics, luxury products and perfume. France is the ninth-largest trading partner of the U.S.

Regions economy

The economy between the regions aren't very inegalitarian compared to Spain, North and South of Italy or Germany. However four regions are poorest than other regions. Especially the Regions Nord-Pas-de-Calais, Picardie, Languedoc-Roussillon and Corse but this unlike isn't strong. The most powerful regions are Ile-de-France (4th aggolmerations for her economy in the world), Rhônes-Alpes (industries, services, high-tecnologies), Provence-Alpes-Côtes d'Azur (services, industries, tourisms and wines), Nord-Pas-de-Calais (industries) and Pays de la Loire . Other regions are rich without be powerful like Alsace who have a rich past in industry (machine tool) herited of Germany. The ruals area are mainly in Auvergne or Limousin, Centre, wines productions in lot of regions like Aquitaine in the Bordeaux's region, Champagne-Ardennes with his Champagne etc...

List of French regions ranked by GDP total and per capita.

Source : INSEE. ÃŽle-de-France can refer to: the historical province of France: see ÃŽle-de-France (province) the modern French administrative région: see ÃŽle-de-France (région) For other meanings without the circumflex accent, see Ile de France. ... (Région flag) (Region logo) Location Administration Capital Lyon Regional President Jean-Jack Queyranne (PS) (since 2004) Departments Ain Ardèche Drôme Isère Loire Rhône Savoie Haute-Savoie Arrondissements 25 Cantons 335 Communes 2,879 Statistics Land area1 43,698 km² Population (Ranked 2nd)  - January 1, 2006... (Région flag) (Region logo) Location Administration Capital Regional President Departments Alpes-de-Haute-Provence Alpes-Maritimes Bouches-du-Rhône Hautes-Alpes Var Vaucluse Arrondissements 18 Cantons 237 Communes 963 Statistics Land area1 31,400 km² Population (Ranked 3rd)  - January 1, 2006 est. ... Capital Lille Area 12,414 km² Regional President Daniel Percheron ( PS) (since 2001) Population   - 2004 estimate   - 1999 census   - Density (Ranked 4th) 4,026,000 3,996,588 324/km² (2004) Arrondissements 13 Cantons 156 Communes 1,546 Départements Nord Pas-de-Calais The administrative region of Nord-Pas-de... Capital Nantes Land area¹ 32,082 km² Regional President Jacques Auxiette (PS) (since 2004) Population  - Jan. ... (Region flag) (Region logo) Location Administration Capital Regional President Departments Dordogne Gironde Landes Lot-et-Garonne Pyrénées-Atlantiques Arrondissements 18 Cantons 235 Communes 2,296 Statistics Land area1 41,308 km² Population (Ranked 6th)  - January 1, 2006 est. ... Capital Rennes Land area¹ 27,209 km² Regional President Jean-Yves Le Drian (PS) (since 2004) Population  - Jan. ... (Region flag) (Occitan cross) (Region logo) Location Administration Capital Regional President Departments Ariège Aveyron Gers Haute-Garonne Hautes-Pyrénées Lot Tarn Tarn-et-Garonne Arrondissements 22 Cantons 293 Communes 3,020 Statistics Land area1 45,348 km² Population (Ranked 8th)  - January 1, 2006 est. ... Capital Orléans Land area¹ 39,151 km² Regional President Michel Sapin (PS) (1998 to 2000, and since 2004) Population  - Jan. ... (Region flag) (Region logo) Location Administration Capital Regional President Departments Aude Gard Hérault Lozère Pyrénées-Orientales Arrondissements 14 Cantons 186 Communes 1,545 Statistics Land area1 27,376 km² Population (Ranked 10th)  - January 1, 2006 est. ... Lorraine can refer to: the independent Duchy of Lorraine and later French province of Lorraine: see Lorraine (province). ... Elsaß redirects here. ... Capital Rouen Land area¹ 12,318 km² Regional President Alain Le Vern (PS) (since 1998) Population  - Jan. ... (Region flag) (Region logo) Location Administration Capital Amiens Regional President Claude Gewerc (PS) (since 2004) Departments Aisne Oise Somme Arrondissements 13 Cantons 129 Communes 2,292 Statistics Land area1 19,399 km² Population (Ranked 12th)  - January 1, 2006 est. ... Categories: Stub | Regions of France ... (Région flag) (Region logo) Location Administration Capital Regional President Departments Yonne Côte-dOr Nièvre Saône-et-Loire Arrondissements 15 Cantons 174 Communes 2,045 Statistics Land area1 31,582 km² Population (Ranked 16th)  - January 1, 2006 est. ... (Region flag) (Region logo) Location Administration Capital Regional President Departments Aube Ardennes Haute-Marne Marne Arrondissements 15 Cantons 146 Communes 1,947 Statistics Land area1 25,606 km² Population (Ranked 18th)  - January 1, 2006 est. ... Capital Caen Land area¹ 17,589 km² Regional President Philippe Duron (PS) (since 2004) Population  - Jan. ... History Auvergne was also historically a province of France, deriving its name from Averni, a Gallic tribe who once occupied the area. ... (Region flag) (Region logo) Location Administration Capital Regional President Departments Doubs Haute-Saône Jura Territoire de Belfort Arrondissements 8 Cantons 116 Communes 1,786 Statistics Land area1 16,202 km² Population (Ranked 20th)  - January 1, 2006 est. ... Capital Limoges Area 16,942 km² Regional President Jean-Paul Denanot Population  - 2004 estimate  - 1999 census  - Density 710,939 42/km² Arrondissements 8 Cantons 106 Communes 747 Départements Corrèze Creuse Haute-Vienne Limousin is a former province of France and now a region of France, around the city... This article is about the Mediterranean island. ...

Departements economy and cities

Some Departements in France are very rich compared to others. So, Paris,Hauts-de-Seine (GDP per capita : 67000€ in 2000) and Rhône Concentrate a lot of headquartered. The Yvelines is the second most rich departement in France according to the wages of habitants. In Hauts-de-Seine the wages are on average 28 000€/capita, in Yvelines 27900€, and in Paris 25000€ against 15000 in France (data 2004 INSEE). This article is about the capital of France. ... Hauts-de-Seine is a département in France. ... Rhône can refer to: Rhône River Rhône (département) in France Rhône (Wine Region) in France This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... Yvelines is a French département in the région of ÃŽle-de-France. ...

Finally, in France like in other countries, a lot of cities are extremely rich in much of Regions, so the richest is Marnes-la-Coquette in Hauts-de-Seine with 81750€/households (according to INSEE, data 2004) Marnes-la-Coquette is a commune in the western suburbs of Paris, France. ...

Other statistics

GDP PPP & GDP Growth Rates 2002 - 2006 est.:

Industrial production growth rate: 0.2% (2005)

Electricity:

• production: 536.9 TWh (2001)
• consumption: 433.3 TWh (2001)
• exports: 72.2 TWh (2001)
• imports: 6.2 TWh (2001)

Electricity - production by source: The terawatt hour (TW·h) is a unit for measuring energy. ...

• fossil fuel: 8.2%
• hydro: 14%
• other: 0.7% (2001)
• nuclear: 77.1%

Agriculture - products: wheat, cereals, sugar beets, potatoes, wine grapes; beef, dairy products; fish Species T. aestivum T. boeoticum T. dicoccoides T. dicoccon T. durum T. monococcum T. spelta T. sphaerococcum T. timopheevii References:   ITIS 42236 2002-09-22 Wheat Wheat For the indie rock group, see Wheat (band). ... Cereal crops are mostly grasses cultivated for their edible seeds (actually a fruit called a grain, technically a caryopsis). ... Two sugar beets - the one on the left has been cultivated to be smoother than the traditional beet, so that it traps less soil. ... For other uses, see Potato (disambiguation). ... It has been suggested that Veraison be merged into this article or section. ... For other uses, see Beef (disambiguation). ... For other uses, see Fish (disambiguation). ...

Exports - commodities: machinery and transportation equipment, chemicals, iron and steel products; agricultural products, textiles and clothing and perfume A chemical substance is any material substance used in or obtained by a process in chemistry: A chemical compound is a substance consisting of two or more chemical elements that are chemically combined in fixed proportions. ... General Name, symbol, number iron, Fe, 26 Chemical series transition metals Group, period, block 8, 4, d Appearance lustrous metallic with a grayish tinge Standard atomic weight 55. ...

Imports - commodities: crude oil, machinery and equipment, chemicals; agricultural products Petro redirects here. ... A chemical substance is any material substance used in or obtained by a process in chemistry: A chemical compound is a substance consisting of two or more chemical elements that are chemically combined in fixed proportions. ...

Currency: Euro (EUR) since January 1, 1999 for all financial transactions, euro banknotes and euro coins were introduced January 1, 2002. Previously was the French franc (FRF), the official exchange rate was fixed at 6.55957 French francs per euro. For other uses, see Euro (disambiguation). ... is the 1st day of the year in the Gregorian calendar. ... Events of 2008: (EMILY) Me Lesley and MIley are going to China! This article is about the year. ... The euro (EUR or €) is the single currency for the European Union and currently 13 of its member states. ... The euro (EUR or €) is the currency of 13 European Union (EU) member states (Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, and Spain), three European microstates which have currency agreements with the EU (Monaco, San Marino and the Vatican City State), Andorra, Montenegro and the... is the 1st day of the year in the Gregorian calendar. ... Also see: 2002 (number). ... ISO 4217 Code FRF User(s) Monaco, Andorra, France except New Caledonia, French Polynesia, and Wallis and Futuna ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 6. ...

Notes and references

LHumanité (Humanity), formerly the daily newspaper of the French Communist Party (PCF), was founded in 1904 by Jean Jaurès, a leader of the SFIO socialist party. ... is the 158th day of the year (159th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... is the 296th day of the year (297th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... World Tourism Organization Building in Madrid The United Nations World Tourism Organization (UNWTO) is a United Nations agency dealing with questions relating to tourism. ... The World Tourism Organization compiles the World Tourism Rankings. ...

See also

• France
• Economic history of France
• Economy of Paris
• Poverty in France
• Economy of Europe
• Economy of the European Union

This is a history of the economy of France. ... This article or section is in need of attention from an expert on the subject. ... A homeless man in Paris. ... The economy of Europe comprises more than 710 million people in 48 different states. ... If it is considered as a single state, the economy of the European Unions twenty-seven member states is the worlds largest economy. ...

External links

• Official French exporters directory - Firmafrance.com is the Official French exporters B2B directory, powered by Ubifrance and officially endorsed by the Ministry of the Economy, Finance and Industry of France.
• OECD's France country Web site and OECD Economic Survey of France
• French National Institute for Statistics and Economic Studies (INSEE)
• Investing in French Stocks - Nov, 2006 Global investor commentary on the current state of French stocks.
• The French Revolution of 2007 - Nicholas Vardy March 9, 2007 - Investor perspective on changes affecting French markets and economy.

v • d • e Members of the World Trade Organization (WTO)

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