| Economy - 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. The telecommunications sector is gradually being opened to competition. 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. The government in 2006 focused on introducing measures that attempt to boost employment through increased labor market flexibility; however, the population has remained opposed to labor reforms, hampering the government's ability to revitalize the economy. The tax burden remains one of the highest in Europe (nearly 50% of GDP in 2005). The lingering economic slowdown and inflexible budget items probably pushed the budget deficit above the eurozone's 3%-of-GDP limit in 2006; unemployment hovers near 9%. 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. |
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| GDP | 2.6% (2005 est.) |
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| GDP - real growth rate | 2.1% (2006 est.) |
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| GDP - composition by sector | agriculture: 2.2%
industry: 20.6%
services: 77.2% (2006 est.) |
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| Population below poverty line | 6.2% (2004) |
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Household income or consumption
by percentage share | lowest 10%: 3%
highest 10%: 24.8% (2004) |
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Distribution of family income
- Gini index | 26.7 (2002) |
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| Labor force | 27.88 million (2006 est.) |
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| Labor force - by occupation | agriculture: 4.1%
industry: 24.4%
services: 71.5% (1999) |
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| Unemployment rate | 8.7% (December 2006 est.) |
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| Budget | revenues: $1.15 trillion
expenditures: $1.211 trillion; including capital expenditures of $NA (2006 est.) |
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| Industries | machinery, chemicals, automobiles, metallurgy, aircraft, electronics; textiles, food processing; tourism |
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| Industrial production growth rate | 0.2% (2006 est.) |
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Electricity -
production | 549.4 billion kWh (2005) |
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Electricity -
production by source | fossil fuel: 8.2%
hydro: 14%
nuclear: 77.1%
other: 0.7% (2001) |
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Electricity -
consumption | 482.4 billion kWh (2005) |
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Electricity -
exports | 68.3 billion kWh (2005) |
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Electricity -
imports | 8 billion kWh (2005) |
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| Oil - production | 73,500 bbl/day (2005 est.) |
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| Oil - consumption | 1.97 million bbl/day (2005 est.) |
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| Oil - exports | 474,200 bbl/day (2005) |
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| Oil - imports | 1.89 million bbl/day (2005) |
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| Oil - proved reserves | 159 million bbl (1 January 2006) |
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| Agriculture - products | wheat, cereals, sugar beets, potatoes, wine grapes; beef, dairy products; fish |
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| Exports | $490 billion f.o.b. (2006 est.) |
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| Exports - commodities | machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages |
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| Exports - partners | Germany 14.7%, Spain 9.7%, Italy 8.7%, UK 8.3%, Belgium 7.1%, US 7.1% (2005) |
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| Imports | $529.1 billion f.o.b. (2006 est.) |
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| Imports - commodities | machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals |
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| Imports - partners | Germany 18.9%, Belgium 10.7%, Italy 8.3%, Spain 7%, Netherlands 6.6%, UK 5.9%, US 5.1% (2005) |
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| Debt - external | $3.461 trillion (30 June 2006) |
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| Currency code | EUR |
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| Exchange rates | euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002) |
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| Fiscal year | calendar year |
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