The first platform of international trade in Egypt
Register here  |  Forgotten password?

Home > Country profiles > Economic and Political Outline

flag France France: Economic and Political Outline

Economic Outline | Political Outline

Economic Outline

Economic Overview

The international financial crisis of 2009 led France into a recession, the French economy shrinking by 2.5%. The country has nonetheless resisted this development better than the eurozone average, thanks to a more diversified economy a more solid banking system, as well as a massive stimulus plan. The GDP improved in 2010, with a growth estimated at 1.6% which should remain on this low level throughout 2011. The recovery was essentially driven by the resumption of international trade.

In the perspective of the next year’s presidential election, the economic policy pursued by the Sarkozy administration is focused on reclaiming the disgruntled electorate. The government’s priority is the restoration of public finances through a policy of budgetary restraint. At the same time, measures to promote return to work, investment and exports will also continue to be pursued.

Due to the crisis, the unemployment rate, which is estimated at 10% in 2010, has reached its highest level in 10 years.

 
Main Indicators 2009201020112012 (e)2013 (e)
GDP (billions USD) 2,631.852,562.74e2,808.27e2,888.912,970.27
GDP (Constant Prices, Annual % Change) -2.61.4e1.7e1.41.9
GDP per Capita (USD) 42,01840,704e44,401e45,46846,535
General Government Balance (in % of GDP) -4.8-4.6e-3.8e-2.8-2.6
General Government Gross Debt (in % of GDP) 79.082.3e86.8e89.490.7
Inflation Rate (%) 0.11.7e2.1e1.41.7
Unemployment Rate (% of the Labor Force) 9.59.89.59.29.0
Current Account (billions USD) -39.56-44.66e-74.77e-72.17-75.49
Current Account (in % of GDP) -1.5-1.7e-2.7e-2.5-

Source: IMF - World Economic Outlook Database ; World Bank - Last Available Data.

Note: (e) Estimated Data

 

Main Sectors of Industry

France is the biggest agricultural power in the European Union, accounting for a quarter of its total agricultural production, and the second agricultural power in the world after the United States. Nevertheless, the agricultural sector only represents a very small part of the country's GDP. It receives significant subsidies, especially from the European Union. Wheat, corn, meat and wine are France's main agricultural products.

France's manufacturing industry is varied, however, the country is in the middle of undergoing a de-industrialization process which translates into numerous relocations. The key industrial sectors in France are telecommunications, electronics, cars, aerospace and weapons.

The tertiary sector represents about three-fourths of the French GDP and employs almost 75% of the active workforce. France is the leading-tourist destination in the world with more than 75 million foreign tourists every year.

 
Breakdown of Economic Activity By Sector Agriculture Industry Services
Employment By Sector (in % of Total Employment) 2.9 22.5 74.1
Value Added (in % of GDP) 1.8 19.0 79.2
Value Added (Annual % Change) 3.4 -9.0 -1.0

Source: World Bank - Last Available Data.

 

Find more information about your business sector on our service Market reports.

 
Learn more about Market Analysis about France on Globaltrade.net, the Directory for International Trade Services.
 
>

Indicator of Economic Freedom

Score:
64.6/100
Position:
Moderately free
World Rank:
60/179
Regional Rank:
28/42

Distribution of Economic freedom in the world
Source: 2011 Index of Economic freedom, Heritage Foundation

 

Country Risk

See the Country Risk Analysis Provided By Ducroire.

 

Sources of General Economic Information

Ministries
Ministry of the Economy, Finance and Industry
Ministry of agriculture and fisheries
Ministry of small and medium enterprises, commerce, the craft industry and liberal professions
Statistical Office
French Institute of Statistics (INSEE)
Central Bank
The European Central Bank
The Bank of France
Stock Exchange
Euronext
Other Useful Resources
Documentation center for Economy-Finance
Main Online Newspapers
Le Monde (only in French)
Le Figaro (only in French)
Challenges (in French and English)
Libération (only in French)
Les Echos (only in French)
La Tribune (only in French)

Return to top

Political Outline

Type of State
Republic, parliamentary democracy combined with presidential power.
Executive Power
The President of the Republic is the Head of State. He is elected by direct universal suffrage for 5 years. He appoints the Prime Minister and his government at the suggestion of the Prime Minister. The Prime Minister sets the amount of the State's expenses and revenue, and prepares some bills.
Legislative Power
The parliament is composed of the Senate and the National Assembly. Senators are elected by indirect universal suffrage for 9 years renewable by a one-third majority vote every 3 years. The deputies (MPs) are elected by direct universal suffrage. They examine bills and private bills successively, vote laws and monitor the government.
Main Political Parties
The French Right is made up of the Union for a Popular Movement (UMP), the majority party, the Union for French Democracy (New UDF) and the Democratic Movement (MoDem) situated more to the Center and the National Front (FN) which is on the extreme right.
The Left brings together the Socialist Party (PS), the Greens (Ecologists), the French Communist Party (PCF) and various extreme left parties.
Current Political Leaders
President : Nicolas Sarkozy (since May 2007) - UMP
Prime Minister : François Fillon (since May 2007) - UMP
Next Election Dates
Presidential and Parliamentary elections: 2012
 

Indicator of Freedom of the Press

World Rank:
44/178
Evolution:
1 place down compared to 2009

Source: Worldwide Press Freedom Index 2010, Reporters Without Borders

 

Indicator of Political Freedom

Ranking:
Free
Political Freedom:
1/7
Civil Liberties:
1/7

Map of freedom 2010
Source: Freedom House

 

Return to top

Any Comments About This Content? Report It to Us.

 

© Export Entreprises SA, All Rights Reserved.
Last Updates: January 2012

Copyright 2011 © Crédit Agricole Egypt
CA Egypt website  |  Sitemap  |  Terms and Conditions  |  FAQ  |  Contact us  |  Customer Support 19191
Print
Download in PDF format