France:
Economy

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Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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. Widespread opposition to labor reform has in recent years hampered the government's ability to revitalize the economy. In 2007, the government launched divisive labor reform efforts that will continue into 2008. France's tax burden remains one of the highest in Europe (nearly 50% of GDP in 2005). France brought the budget deficit within the eurozone's 3%-of-GDP limit for the first time in 2007 and has reduced unemployment to roughly 8%. 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.
GDP (purchasing power parity)	Definition - World rank and map $2.047 trillion (2007 est.)
GDP (official exchange rate)	Definition $2.56 trillion (2007 est.)
GDP - real growth rate	Definition - World rank and map 1.9% (2007 est.)
GDP - per capita	Definition - World rank and map $33,200 (2007 est.)
GDP - composition by sector	Definition agriculture: 2.2% industry: 21% services: 76.7% (2007 est.)
Labor force	Definition 27.81 million (2007 est.)
Labor force - by occupation	Definition agriculture: 4.1% industry: 24.4% services: 71.5% (1999)
Unemployment rate	Definition - World rank and map 8.3% (2007 est.)
Population below poverty line	Definition 6.2% (2004)
Household income or consumption by percentage share	Definition lowest 10%: 3% highest 10%: 24.8% (2004)
Distribution of family income - Gini index	Definition - World rank and map 28 (2005)
Inflation rate (consumer prices)	Definition - World rank and map 1.6% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 21.7% of GDP (2007 est.)
Budget	Definition revenues: $1.288 trillion expenditures: $1.358 trillion (2007 est.)
Public debt	Definition - World rank and map 64% of GDP (2007 est.)
Agriculture - products	Definition wheat, cereals, sugar beets, potatoes, wine grapes; beef, dairy products; fish
Industries	Definition machinery, chemicals, automobiles, metallurgy, aircraft, electronics; textiles, food processing; tourism
Industrial production growth rate	Definition - World rank and map 2% (2007 est.)
Electricity - production	Definition - World rank and map 543.6 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 451.5 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 7,048.4 kWh (2005)
Electricity - exports	Definition 68.33 billion kWh (2005)
Electricity - imports	Definition 8.035 billion kWh (2005)
Oil - production	Definition - World rank and map 73,180 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 1.999 million bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 31.2 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 474,200 bbl/day (2005)
Oil - imports	Definition - World rank and map 1.89 million bbl/day (2005)
Oil - proved reserves	Definition - World rank and map 158.4 million bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 1.4 billion cu m (2004 est.)
Natural gas - consumption	Definition - World rank and map 47.26 billion cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 738 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 863.2 million cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 47.02 billion cu m (2005 est.)
Natural gas - proved reserves	Definition - World rank and map 341 billion cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$33.39 billion (2007 est.)
Exports	Definition - World rank and map $548 billion f.o.b. (2007 est.)
Exports - commodities	Definition machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages
Exports - partners	Definition Germany 14.9%, Spain 9.3%, Italy 8.9%, UK 8.2%, Belgium 7.3%, US 6.1%, Netherlands 4.1% (2006)
Imports	Definition - World rank and map $600.1 billion f.o.b. (2007 est.)
Imports - commodities	Definition machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals
Imports - partners	Definition Germany 18.9%, Belgium 11.3%, Italy 8.4%, Spain 7.1%, Netherlands 7%, UK 5.6%, US 4.4%, China 4% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $98.24 billion (2006 est.)
Debt - external	Definition - World rank and map $4.396 trillion (30 June 2007)
Stock of direct foreign investment - at home	Definition $872.4 billion (2007 est.)
Stock of direct foreign investment - abroad	Definition $1.211 trillion (2007 est.)
Market value of publicly traded shares	Definition $1.71 trillion (2005)
Economic aid - donor	Definition ODA, $10.6 billion (2006)
Currency (code)	Definition euro (EUR)
Exchange rates	Definition euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)
Fiscal year	Definition calendar year

France: Economy

France:
Economy