Economy of France
67473
225703809
2008-07-15T00:07:22Z
SergioGeorgini
3526576
"eurocent" is not actually a word. A euro is divided into 100 "cent".
{{Refimprove|article|date=January 2007}}
{{Infobox Economy
|country = France
|image = Ladefensepartienord.jpg
|width = 150
|caption = [[La Défense]] is a major business district in [[Paris]]
|currency = 1 [[euro]] (€1) = 100 cent
|year = Calendar year
|organs = [[EU]], [[WTO]] and [[OECD]]
|rank = 6th
|gdp = $1.871 trillion (2006)
|growth = 2% (2006)
|per capita = $30,100 (2006)
|sectors = agriculture (2.7%), industry (24.4%), services (72.9%) ([[2004]])
|inflation = 1.5% (2006) [https://www.cia.gov/library/publications/the-world-factbook/geos/fr.html#Econ]
|poverty = 6.2% (2004)
|labor = 27.88 million (2006)
|occupations = services (71.5%), industry (24.4%), agriculture (4.1%) ([[1999]])
|unemployment = 8.7% (2006)
|industries = [[machinery]], [[chemical|chemicals]], [[automobile|automobiles]], [[metallurgy]], [[aircraft]], [[electronics]]; [[textile|textiles]], [[food]] processing; [[tourism]]
|exports = $490 billion (2006) [http://www.insee.fr/fr/indicateur/cnat_trim/Series/t_905_30_3.htm]
|export-goods = [[machinery]] and transportation equipment, [[aircraft]], [[plastic]]s, [[chemicals]], pharmaceutical products, [[iron]] and [[steel]], [[beverages]]
|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) [http://www.insee.fr/fr/indicateur/cnat_trim/Series/t_906_30_3.htm]
|import-goods = machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals
|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)
|debt = $1.210 trillion (64.7% of the GDP) (2006)
|revenue = $1.150 trillion (2006)
|expenses = $1.211 trillion (2006)
|aid = ''donor'': [[Official Development Assistance|ODA]] $10.1 billion (2006) [https://www.cia.gov/library/publications/the-world-factbook/geos/fr.html#Econ]
|cianame = fr
}}
:''This article addresses the current economic 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. [[International Monetary Fund]] data rank the French economy [[List of countries by GDP (PPP)|eighth largest]] by [[purchasing power parity]] (PPP) in 2007 at US$2,046,899 million. The [[World Bank]], in 2008, estimated France's [[Gross domestic product|GDP]] in 2006 to be US$1,959,745 million, or seventh largest in the world by PPP. Rankings published by the [[CIA World Factbook]] in 2008 determine France's GDP, at $2.067 trillion, to be the eighth largest, again by measurement of PPP.
== Background ==
[[Gross domestic product|GDP]] growth averaged 2% between 1994 and 1998, with 3% recorded in 2000 [http://www.iaea.org/inisnkm/nkm/aws/eedrb/data/FR-gdpg.html]. 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 <ref name=ILO> [http://www.insee.fr/fr/indicateur/indic_conj/chomage_emploi.htm Chômage INSEE], June 2007 </ref>.
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, [[Poverty in France|France's poverty rate]] remains one of the lowest in the world {{Fact|date=October 2007}}, at 6% (compared to 15% in the [[United Kingdom]] and 12% in the [[United States]]) {{Fact|date=October 2007}}. 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. <ref>[http://www.humanite.fr/2007-06-07_Politique_Droits-de-succession-pour-une-minorite-de-menages-aises Droits de succession : pour une minorité de ménages aisés], ''[[L'Humanité]]'', [[June 7]], [[2007]] {{fr icon}} </ref>. Since 1991, due to the big rise of the level of the [[minimum wage]]s ([[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 <ref name=Matin> "Les vrais chiffres du pouvoir d'achat", [[Matin Plus]], [[23 October]] [[2007]] ([http://www.matinplus.net/v1/Pages-Accueil/Default-MatinPlus.aspx On-line] <!-- please do not change ref format --> {{fr icon}}</ref>. According to the [[INSEE]], 27% of full-time employees in both private and public sectors earned less than 1,3 times the SMIC <ref name=Matin/>. 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 <ref name=Matin/>. 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 <ref name=Matin/>.
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 after the [[Dot-com_bubble|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]].
== Dirigisme and decline of dirigisme ==
Following the [[World War II|Second World War]], [[French Fifth Republic|Fifth Republic]], [[France]] embarked on an ambitious and very successful programme of modernisation, under state impulse and coordination. This program of ''[[dirigisme]]'', mostly implemented by [[Right-wing politics|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.
However, ''dirigisme'' came to be highly contested after 1982 when newly elected [[Socialism|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 [[corporatization]]. As a result the government largely retreated from economic intervention; ''dirigisme'' has now essentially receded though some of its traits remain.
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).
[[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 [[#Unemployment|below]] for a discussion on the current measures against unemployment.
=== Working hours ===
exemptions from this law and tax-exemptions for [[overtime]].
=== 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<ref>[http://www.lemonde.fr/web/article/0,1-0@2-3208,36-386056,0.html LeMonde.fr : Gel syndical<!-- Bot generated title -->]</ref>) 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 [[Confédération générale du travail|CGT]], [[Force Ouvrière|FO]], and [[Confédération Française Démocratique du Travail|CFDT]].
French unions are fairly weak, and strikes are uncommon in most of the economy<ref>[http://edition.cnn.com/2000/WORLD/europe/08/31/france.striking/ France: a nation of strikers?]</ref>{{,}}<ref>[http://www.nationmaster.com/red/graph/lab_str-labor-strikes&b_map=1 NationMaster - Strikes (most recent) by country<!-- Bot generated title -->]</ref>. 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.
== Current economic issues ==
=== Unemployment ===
Chronically high unemployment has persisted since the 1970s{{Fact|date:August2007|date=August 2007}}; 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 "[[economic liberalism|liberal]]" approach to fighting unemployment: removing or weakening workforce legislation and lowering payroll contributions in order to stimulate employment.
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:
*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 "[[Contrat nouvelle embauche|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{{Fact|date=February 2007}}, eliminating financial disincentives to growth{{Fact|date=February 2007}} and by reducing the amount of paperwork associated with hiring employees{{Fact|date=February 2007}}. 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.
===Budgetary reform===
[[Image:Public Deficit of France.png|right|thumb|400px|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.
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.
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 defense, ship building (naval and specialist ships), pharmaceuticals, construction and civil engineering, chemicals, and automobile production (3.5m units in 2005).
Research and development spending is also high in France at 2.3% of GDP, the third highest in the OECD<ref>[http://ambafrance-us.org/atoz/economy.asp]</ref>.
=== 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. [[Radioactive waste|Nuclear waste]] is stored on site at reprocessing facilities.
In [[2006]] the net production of electricity in France amounted to 548.8 [[Watt-hour#Multiples|TWh]], of which<ref>Source: [http://www.industrie.gouv.fr/energie/statisti/pdf/elec-analyse-stat.pdf ''L’Electricité en France en 2006 : une analyse statistique'']</ref>:
*428.7 TWh (78.1%) were produced by [[Nuclear reactor technology|nuclear]] power generation
*60.9 TWh (11.1%) were produced by [[Hydroelectricity|hydroelectric]] power generation
*52.4 TWh (9.5%) were produced by [[fossil fuel power plant|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 gas]]es)
*6.9 TWh (1.3%) were produced by other types of power generation (essentially [[waste-to-energy]] and [[wind turbine]]s)
**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).
==== Privatisation of EDF ====
In November 2004, EDF (which stands for Electricité de France), the largest electricity provider in France, was floated on the French stock market, with the French State keeping more than 70% of the capital. EDF is not the only electricity provider in France. Other electricity providers include CNR (''Compagnie nationale du Rhône'') and [[Endesa (Spain)|Endesa]] (through [[Société nationale d'électricité et de thermique|SNET]]).
=== Agriculture ===
France is the European Union's leading [[agriculture|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.
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 [[French cheese|cheese]], processed products and [[French wine|wine]]. They amount to more than $900 million annually.
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,<ref name="tourism.stat">As of 2004, the most recent statistics compiled by the [[World Tourism Organization]]; see [[World Tourism rankings]].</ref> 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.
=== 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.
== External trade ==
[[Image:2006French exports.PNG|thumb|left|French exports in 2006]]
France is the third-largest trading nation in western Europe (after [[Germany]] and the [[United Kingdom]]). Its foreign trade balance for goods had been in surplus from 1992 until 2001, reaching $25.4 [[1000000000 (number)|billion]] (25.4 G$) 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.
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.
{| border="0" style="border: 1px solid #999; background-color:#FFFFFF"
|- align="center" bgcolor="#CCCCCC" valign="top"
! Rang !! Région !! PIB<br />(millions d'euros, 2005) !! PIB / hab.<br />(euros, 2005)
|- align="right"
| 1 || align="left" | [[Île-de-France (region)|Île-de-France]] || 480 870 || 42 712
|- align="right" bgcolor="#efefef"
| 2 || align="left" | [[Rhône-Alpes]] || 165 034 || 28 131
|- align="right"
| 3 || align="left" | [[Provence-Alpes-Côte d'Azur]] || 120 365 || 25 693
|- align="right" bgcolor="#efefef"
| 4 || align="left" | [[Nord-Pas de Calais]] || 86 747 || 21 555
|- align="right"
| 5 || align="left" | [[Pays de la Loire]] || 84 990 || 25 401
|- align="right" bgcolor="#efefef"
| 6 || align="left" | [[Aquitaine]] || 76 895 || 25 374
|- align="right"
| 7 || align="left" | [[Bretagne]] || 73 511 || 24 443
|- align="right" bgcolor="#efefef"
| 8 || align="left" | [[Midi-Pyrénées]] || 67 486 || 25 140
|- align="right"
| 9 || align="left" | [[Centre (region)|Centre]] || 61 968 || 25 005
|- align="right" bgcolor="#efefef"
| 10 || align="left" | [[Languedoc-Roussillon]] || 53 197 || 21 752
|- align="right"
| 11 || align="left" | [[Lorraine (region)|Lorraine]] || 53 013 || 22 769
|- align="right" bgcolor="#efefef"
| 12 || align="left" | [[Alsace]] || 46 870 || 26 196
|- align="right"
| 13 || align="left" | [[Haute-Normandie]] || 44 864 || 24 923
|- align="right" bgcolor="#efefef"
| 14 || align="left" | [[Picardie]] || 41 276 || 22 022
|- align="right"
| 15 || align="left" | [[Poitou-Charentes]] || 39 286 || 23 311
|- align="right" bgcolor="#efefef"
| 16 || align="left" | [[Bourgogne]] || 38 733 || 23 880
|- align="right"
| 17 || align="left" | [[Champagne-Ardenne]] || 33 550 || 25 093
|- align="right" bgcolor="#efefef"
| 18 || align="left" | [[Basse-Normandie]] || 33 253 || 23 099
|- align="right"
| 19 || align="left" | [[Auvergne (region)|Auvergne]] || 30 632 || 23 127
|- align="right" bgcolor="#efefef"
| 20 || align="left" | [[Franche-Comté]] || 27 016 || 23 782
|- align="right"
| 21 || align="left" | [[Overseas region|Régions d'outre-mer]] (2002) || 22 891 || 13 375
|- align="right" bgcolor="#efefef"
| 22 || align="left" | [[Limousin (region)|Limousin]] || 16 326 || 22 664
|- align="right"
| 23 || align="left" | [[Corsica]] || 5 846 || 21 508
|}
<small>Source : [http://www.insee.fr/fr/ffc/docs_ffc/PIB_VA_region.htm INSEE].</small>
== ''Departements'' economy and cities ==
Some ''Departements'' in France are very rich compared to others. [[Paris]],[[Hauts-de-Seine]] (GDP per capita : €67000 in 2000) and [[Rhône (department)|Rhône]], for example, concentrate a lot of headquartered. The [[Yvelines]] is the second richest ''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).
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)
== Other statistics ==
'''GDP PPP & GDP Growth Rates 2002 - 2006 est.:'''
{| border="1" cellpadding="2" cellspacing="0" style="border-collapse:collapse;"
|-----
! style="background:#efefef;" | Year
! style="background:#efefef;" | GDP <br /> <small>in billions of USD PPP <br /> </small>
! style="background:#efefef;" | % GDP Growth
|- align="right"
! align="left"|2002
| 1603.740 || 1.3
|- align="right"
! align="left"|2003
| 1641.774 || 0.9
|- align="right"
! align="left"|2004
| 1724.647 || 2.1
|- align="right"
! align="left"|2005
| 1811.561 || 1.5
|- align="right"
! align="left"|2006
| 1889.783 || 2.3
|- align="right"
|}
'''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:'''
* ''fossil fuel:'' 8.2%
* ''hydro:'' 14%
* ''other:'' 0.7% (2001)
* ''nuclear:'' 77.1%
<p>'''Agriculture - products:'''
[[wheat]], [[cereals]], [[sugar beet]]s, [[potato]]es, wine [[grape]]s; [[beef]], dairy products; [[fish]]
<p>'''Exports - commodities:'''
machinery and transportation equipment, [[chemical]]s, [[iron]] and steel products; agricultural products, textiles and clothing and perfume
<p>'''Imports - commodities:'''
crude [[Petroleum|oil]], machinery and equipment, [[chemical]]s; agricultural products
<p>'''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.
== Notes and references ==
{{reflist}}
==See also==
*[[France]]
*[[Economic history of France]]
*[[Economy of Paris]]
*[[Poverty in France]]
*[[Economy of Europe]]
*[[Economy of the European Union]]
==External links==
*[http://www.firmafrance.com/ 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.
*[http://www.oecd.org/france/ OECD's France country Web site] and [http://www.oecd.org/eco/surveys/france/ OECD Economic Survey of France]
*[http://www.insee.fr French National Institute for Statistics and Economic Studies ([[INSEE]])]
*[http://www.theglobalguru.com/article.php?id=70&offer=GURU001 Investing in French Stocks] - Nov, 2006 Global investor commentary on the current state of French stocks.
*[http://www.theglobalguru.com/article.php?id=105&offer=GURU001 The French Revolution of 2007] - [[Nicholas Vardy]] March 9, 2007 - Investor perspective on changes affecting French markets and economy.
{{WTO}}
{{OECD}}
{{Economy of Europe}}
[[Category:Economy of France| ]]
[[Category:European Union member economies]]
[[Category:WTO member economies|France]]
[[Category:OECD member economies|France]]
[[Category:Economic history of France]]
[[af:Ekonomie van Frankryk]]
[[bn:ফ্রান্সের অর্থনীতি]]
[[bg:Икономика на Франция]]
[[ca:Economia de França]]
[[es:Economía de Francia]]
[[fr:Économie de la France]]
[[gl:Economía de Francia]]
[[io:Ekonomio di Francia]]
[[it:Economia della Francia]]
[[lt:Prancūzijos ekonomika]]
[[nl:Economie van Frankrijk]]
[[oc:Economia de França]]
[[pl:Gospodarka Francji]]
[[pt:Economia da França]]
[[ro:Economia Franţei]]
[[ru:Экономика Франции]]
[[fi:Ranskan talous]]
[[vi:Kinh tế Pháp]]
[[uk:Економіка Франції]]
[[zh:法國經濟]]