The principal French exports to the US are aircraft and engines, beverages, electrical equipment, chemicals, cosmetics, luxury products and perfume. Population, Annual growth rate (%), 2018, Income inequality, 0 = complete equality; 1 = complete inequality, latest available year, Mathematics performance (PISA), Mean score, 2018 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). Rankings: 1st: United States with $54.6 trillion for 318 million inhabitants; 2nd: Japan with $21 trillion for 127 million inhabitants; 3rd: China with $16.5 trillion for 1.331 billion inhabitants; 4th: France with $14.0 trillion for 63 million inhabitants. " [25], France has a diversified economy,[26] that is dominated by the service sector (which represented in 2017 78.8% of its GDP), whilst the industrial sector accounted for 19.5% of its GDP and the primary sector accounted for the remaining 1.7%[27] The fifth largest trading nation in the world (and second in Europe after Germany),[28] France is also the most visited destination in the world,[29][30] as well the European Union's leading agricultural power. [79] The highly subsidised rail transport network makes up a relatively small portion of travel, most of which is done by car. Paris, a leading global city, has one of the largest city GDP in the world,[38] and is the first city in Europe (and 3rd worldwide) for the number of companies classified in Fortune's Fortune Global 500. ... 1960 - 2019 GDP growth (annual %) ... GDP per capita growth (annual %) Download. However, Europe's wealthiest and second largest regional economy, Ile-de-France (the region surrounding Paris), has long profited from the capital city's economic hegemony. 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 gdp per capita for 2019 was $40,494, a 2.73% decline from 2018. International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. [94] Neoliberal economists attribute the low employment rate, particularly evident among young people, to allegedly high minimum wages that would prevent low productivity workers from easily entering the labour market. France is the 5th largest trading nation in the world, as well as the second-largest trading nation in Europe (after Germany). Credit Suisse 2010's Global Wealth Report, p. 32. [24] It is the world's seventhth-largest economy by 2019 nominal figures and the tenth-largest economy by PPP. [75], Paris is considered one of the world's foremost fashion capitals, or even "the world's fashion capital". The GDP value of France represents 2.26 percent of the world economy. French employment rates for the working age population is one of the lowest of the OECD countries: in 2020, only 64.4% of the French working age population were in employment, compared to 77% in Japan, 76.1% in Germany, 75.4% in the UK, but the French employment rate was higher than that of the US, which stood at 62.5%. [90] In late 2019, the French unemployment rate, though still high compared to other developed economies, was the lowest in a decade. It is the 2nd largest economy in the European Union after Germany. Reading performance (PISA), Mean score, 2018 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. [84] To explain why French per capita GDP is lower than that of the United States, the economist Paul Krugman stated that "French workers are roughly as productive as US workers", but that the French have allegedly a lower workforce participation rate and "when they work, they work fewer hours". EY attributed this as a "direct result of President Macron’s reforms of labor laws and corporate taxation, which were well received by domestic and international investors alike. [88] France produced, in 2018, 39.5 million tons of sugar beet (2nd largest producer in the world, just behind Russia), which serves to produce sugar and ethanol; 35.8 million tons of wheat (5th largest producer in the world); 12.6 million tons of maize (11th largest producer in the world); 11.2 million tons of barley (2nd largest producer in the world, only behind Russia); 7.8 million tons of potato (8th largest producer in the world); 6.2 million tons of grape (5th largest producer in the world); 4.9 million tons of rapeseed (4th largest producer in the world, behind Canada, China and India); 2.2 million tons of sugarcane; 1.7 million tons of apple (9th largest producer in the world); 1.3 million tons of triticale (4th largest producer in the world, only behind Poland, Germany and Belarus); 1.2 million tons of sunflower seed (9th largest producer in the world); 712 thousand tons of tomatoes; 660 thousand tons of linen; 615 thousand tons of dry pea; 535 thousand tons of carrot; 427 thousand tons of oats; 400 thousand tons of soy; in addition to smaller productions of other agricultural products.[67]. [53], In late 2012, credit-rating agencies warned that growing French government debt levels risked France's AAA credit rating, raising the possibility of a future credit downgrade and subsequent higher borrowing costs for the French government. Between 2004 and 2008, the government attempted to combat unemployment with supply-side reforms, but was met with fierce resistance;[92] the contrat nouvelle embauche and the contrat première embauche (which allowed more flexible contracts) were of particular concern, and both were eventually repealed. [106], France has the third-highest number of millionaires in Europe as of 2017. Online tool for visualization and analysis. As of 2019, French government debt reached €2,331 billion an equivalent of 99.2% of French GDP. In 2010, wealth per French adult was a little higher than $290,000, down from a pre-crisis high of $300,000 in 2007. Science performance (PISA), Mean score, 2018, Air and GHG emissions, Carbon dioxide (CO2), latest available year, Gross domestic product (GDP), US dollars/capita, 2019, Household debt, % of net disposable income, 2018 2010's Global Wealth Report. Arms sales becoming France’s new El Dorado, but at what cost? DataBank. Several French corporations rank amongst the largest in their industries such as AXA in insurance and Air France in air transportation. The French arms industry's main customer, for whom they mainly build warships, guns, nuclear weapons and equipment, is the French government. In April and May 2012, France held a presidential election in which the winner François Hollande had opposed austerity measures, promising to eliminate France's budget deficit by 2017. But within Paris, four arrondissements surpass wealthy Neuilly-sur-Seine in household income: the 6th, the 7th, the 8th and the 16th; the 8th "arrondissement" being the wealthiest district in France (the other three following it closely as 2nd, 3rd and 4th wealthiest ones). [66] The destination of 49% of its exports is other EU members states.
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