WebIn Q1 2023, GDP grew moderately (+0.2%) while the purchasing power of household GDI per consumption unit fell (-0.6%) graphique Gross domestic product and its components Graph and download economic data for Real Gross Domestic Product for France (CLVMNACSCAB1GQFR) from Q1 1975 to Q1 2023 about France, real, and GDP. France accounts for about one-third of all agricultural land in the European Union and is the sixth-largest agricultural producer and the second-largest agricultural exporter in the world, behind the United States. Q4 2022: 673,116.3. The French are also among the least indebted populations in the developed world with, Officially the Republic of China, participates as ", This page was last edited on 30 July 2023, at 00:34. PPP GDP stays relatively stable from year to year and isnt significantly impacted by shifts in the exchange rate. Despite being a widely liberalized economy, the government continues to play a significant role in the economy: government spending, at 56% of GDP in 2014, is the second-highest in the European Union. gross domestic product (GDP Indias service sector is the fast-growing sector in the world accounting for 60% of the economy and 28% of employment. Manufacturing and agriculture are two other significant sectors of the economy. [119] Its foreign trade balance for goods had been in surplus from 1992 until 2001, reaching $25.4 billion (25.4 G$) in 1998; however, the French balance of trade was hit by the economic downturn, and went into the red in 2000, reaching a US$15bn deficit in 2003. From 2000 to 2012, Brazil was one of the fastest-growing major economies in the world. 2.1, Review maintenance payments, rents, leases or a contract, Review a commercial or professional lease, Technical changes in the web service SDMX, Contributing to the Index database of natural persons (BRPP), Documentary portal and open access catalogue, The Digital Library of Official Statistics, Providing details about the productive system, Describing and analysing regions and territories, Improving its methods and assessing quality, Contributing to the development of European and international statistics, Producers of European statistics in France, The legal basis of European statistical governance, The framework regulations and sectoral regulations, Accder aux commentaires, tableaux et graphiques les plus rcents ce sujet. As of 2017, it included 16 countries. In French higher education, the following degrees are recognized by the Bologna Process (EU recognition): Licence and Licence Professionnelle (bachelor's degrees), and the comparably named Master and Doctorat degrees. In 2017, the economic crisis, corruption, and lack of public policies increased the poverty rate and many became homeless. Key figures for the 2023 budget: 2023 GDP growth forecast cut to 1% from 1.4%. France economy is mainly driven by service sector which is 78.8% and manufacturing industry of 19.5%. France Full Year GDP Growth 2023 Data - 2024 Forecast Exports from the United States face stiff competition from domestic production, other EU member states, and third-world countries in France. The French government is lowering the country's 2023 economic growth outlook, but sees no need to revise its budget deficit target as a result, Finance Minister Bruno Le Maire said on Tuesday. Brazil has the ninth-largest economy in the world and the largest in Latin America with a nominal GDP of $1.85 trillion. Public debt is set to decline to 109.5% of GDP by 2024. OECD data from 2021 estimate that 8.4% of the French population lived in poverty, compared with 18% in the United States, 11.6% in Canada, 12.4% in the United Kingdom, and 9.8% in Germany. France GDP Real gross domestic product (GDP) increased at an annual rate of 1.1 percent in the first quarter of 2023 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. As a result, the government largely retreated from economic intervention; dirigisme has now essentially receded, though some of its traits remain. [49] According to the OFCE (Observatoire Franais des Conjonctures conomiques) think tank, the expected growth rate for 2022 will be 1.2%. Due to a volatile currency exchange rate , France's GDP as measured in dollars fluctuates sharply. GDP Insights. The nominal GDP of an area is determined using up-to-date market prices and shifts according to inflation. . Q3 2022: 664,604.7. France The latest macroeconomic forecast for France. IMF data from the April 2018 IMF World Economic Outlook database. Domestic Currency,Seasonally Adjusted, Frequency: With 3,220 kilometers of high-speed train lines, France boast the 2nd most expansive network in the world, only after China. Report for Selected Countries and Subjects: World, European Union", "United Nations Statistics Division - National Accounts", Patents, trademarks, and industrial design filing activity, Number of broadband Internet subscriptions, https://en.wikipedia.org/w/index.php?title=List_of_countries_by_GDP_(nominal)&oldid=1167035098, Short description is different from Wikidata, Wikipedia indefinitely semi-protected pages, Creative Commons Attribution-ShareAlike License 4.0, Largest economies in the world by GDP (nominal) in 2023, This page was last edited on 25 July 2023, at 08:04. Capital Economics Ltd France GDP In 2022, the gross domestic product of the United Kingdom amounted to approximately 2.2 trillion British pounds, compared with 2.14 trillion pounds in 2021, and 1.99 trillion in 2020. After declining from 111.6% of GDP in 2022, public debt is set to broadly stabilise at around 109.5% over the forecast horizon. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Public debt in France Nuclear waste is stored on site at reprocessing facilities. The U.S. is known globally for cultivating a society that supports and encourages entrepreneurship, which encourages innovation and, in turn, leads to economic growth. As of 2021, French government debt reached an equivalent of 118.6% of French GDP. Given that the growth carryover from 2022 is 0.4% after a solid year-end for the European economy in the fourth quarter, our scenario for source: World Bank 10Y 25Y 50Y MAX Chart Compare Export API Embed Compare GDP by Country Latest Finnish Jobless Rate Up to The increase in real GDP reflected increases in consumer spending, exports, federal The unemployment rate reached 7.2% in 2022-Q4, its lowest level since 2008-Q1, while the employment rate reached a record high. Indias GDP (PPP) is $10.51 trillion, exceeding that of Japan and Germany. Investment from both households and corporations is projected to recover progressively as the monetary tightening cycle is expected to have passed its peak. The price index for gross domestic purchases increased 6.8 percent in 2022, compared with an increase of 4.2 percent in 2021 (table 4). The gross domestic product (GDP) of all G7 countries is forecast to grow over the next six years, although at different paces. World economy Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary gr However, this revision is not akin to stronger demand. They include Baruch College, the University of London Institute in Paris, Parsons Paris School of Art and Design and the American University of Paris. EY attributed this as a "direct result of President Macrons reforms of labor laws and corporate taxation, which were well received by domestic and international investors alike. WebInflation Rate Economic Growth Manufacturing GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. France's real GDP reported a CAGR of 0.9% between 2010 to 2021. Data in this graph are copyrighted. [65][66], In December 2014 France's credit rating was further downgraded by Fitch (and S&P) to the AA credit rating. [126], In 2010, the French had an estimated wealth of US$14.0trillion for a population of 63 million. Other metrics, nominal GDP per capita and a corresponding GDP (PPP) per capita are used for comparing national standard of living. [125], In comparison with the average French workers, foreign workers tended to be employed in the hardest and lowest-paid jobs. The French agricultural sector receives almost 11billion in EU subsidies. France's future growth was hampered due to the rise in COVID-19 cases, rising inflation, and the conflict between Russia and Ukraine . WebThe French economy advanced 2.6% in 2022, roughly in line with the government's expectations. The name used by UN is "State of Palestine". Language links are at the top of the page across from the title. But they also suggest that the labour market will remain tight, keeping As was universally expected, the ECB raised interest rates by a further 25bp today and indicated that further hikes are possible but not certain. Statistics and studies GDP increased moderately in Q1 2023 (+0.2%) GDP increased moderately in Q1 2023 (+0.2%) Quarterly national accounts - first estimate - first quarter 2023 In Q1 2023, gross domestic product (GDP) rose moderately over a quarter (+0.2% in volume terms*) after a stability in the previous quarter. 2, French classification of products - CPF Rev. Six billionaires alone in Brazil are richer than more than 100 million of the poorest Brazilians. Nominal Gross Domestic Product for France [58], In July 2020, during the COVID-19 pandemic, the French government issued 10-years bonds which had negative interest rates, for the first time in its history (which means that investors buying French bonds will pay, rather than receive, interest for owning French sovereign debt). 5th Floor, 100 Victoria Street Deficit developments in 2023 are also affected by the assumed almost complete phasing out of COVID-19 emergency temporary measures, which are estimated to have amounted to 0.5% of GDP in 2022. [61], The Government of France has run a budget deficit each year since the early 1970s. WebThis makes India one of the top countries by GDP in 2023. In the fourth quarter, real GDP increased 2.6 percent. In November 2004, EDF (which stands for Electricit de France), the world's largest utility company and France's largest electricity provider, was floated with huge success on the French stock market. Inflation forecast raised to 5.3% from 5.1% for 2022 and to 4.2% from 3.3% for 2023. Economic This article is about the current economic situation of France. 2023 Trillion The other major economic centres of the country include Lyon, Toulouse (centre of the European aerospace industry), Marseille and Lille. GDP U.S. gdp for 2020 was $21,060.47B, a 1.5% decline from 2019. The U.S. is also one of the leading manufacturing industries in the world, coming only second to China. These two approaches to GDP estimation have separate strengths and are generally used for different reasons. At a market cap of more than $2.1 trillion, Apples market capitalization is larger than 96% of country GDPs, a list that includes Italy, Brazil, Canada, and Russia.. If the US Won't Sell You Weapons, France Might Still Hook You Up, Global Powers of Luxury Goods 2019: Bridging the gap between the old and the new, A Tour of the World's Fashion Capital: Paris, France, The King of Couture: How Louis XIV invented fashion as we know it, "PISA 2018 Results Combined Executive Summaries Volume I, II & III", "TIMSS 1995 Highlights of Results for the Middle School Years", "From the Struggle against Repression to the 1968 General Strike in France", "Campus France - Lille Catholic University", Fact Sheet: High Speed Rail Development Worldwide, "Frankfurt and Paris CDG lead global analysis of airports in S17", The 2019 Kearney Foreign Direct Investment Confidence Index: Facing a growing paradox, "International Comparisons of GDP per Capita, and per Hour, 19602011", France: unemployment, a deep- rooted problem, Emmanuel Macron's reforms are working, but not for him, Macron's labour market changes begin to bear fruit, "More than 1 million protest French jobs law", "Harmonised unemployment rate by gender total% (SA)", "When the French clock off at 6pm, they really mean it", "Gross domestic product (GDP) at current market prices by NUTS 2 regions", "Average annual population to calculate regional GDP data (thousand persons) by NUTS 3 regions", "Salaire moyen Neuilly-sur-Seine 92200 (60501 habitants): 4649 euros / mois par mnage Tout savoir sur revenu moyen, salaire net, salaire brut et retraite par ville de France", "The 18 countries with the most millionaires", National Institute of Statistics and Economic Studies Insee, Trade-Related Aspects of Intellectual Property Rights, Special administrative regions of the People's Republic of China, Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, Organisation for Economic Co-operation and Development (OECD), Convention on the Organisation for Economic Co-operation and Development, Programme for the International Assessment of Adult Competencies, https://en.wikipedia.org/w/index.php?title=Economy_of_France&oldid=1167807853, World Trade Organization member economies, Articles with dead external links from December 2017, Articles with permanently dead external links, Short description is different from Wikidata, Articles with unsourced statements from September 2022, Articles with unsourced statements from October 2020, Creative Commons Attribution-ShareAlike License 4.0, machinery and equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages, machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals, 60.9 TWh (11.1%) were produced by hydroelectric power generation, 52.4 TWh (9.5%) were produced by fossil-fuel power generation, 9.9 TWh (1.8%) by other fossil fuel generation (fuel oil and gases by-products of industry such as, 6.9 TWh (1.3%) were produced by other types of power generation (essentially. [2] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. However, the France data were flattered by temporary factors and, in any case, we still think growth will cool in the second half of the year. WebFrances economy grew by 0.5% q/q in the second quarter of 2023, strongly picking up from a downwardly revised 0.1% advance in the first quarter. The size of the Brazilian economy is closing in on the $2 trillion mark. the hospitality industry's GDP will likely hit $3. 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%. France Nominal Gross Domestic Product France cuts 2023 growth outlook to 1%, but sees deficit - Reuters The travel and tourism industry's GDP is seen hitting $8.35 trillion this year and $9.6 trillion in 2023, a return to its pre-pandemic level. PPP GDP can be faulted for the fact that it doesnt incorporate discrepancies in quality between goods and services in different countries. France GDP [51], As of August 2020, France was also the country that weighed the most on the Eurozone's EURO STOXX 50 (representing 36.4% of all total assets), ahead of Germany (35.2%).[52]. The name used in the IMF report is "Macao SAR". Economy of France We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. The United States has been the worlds largest economy since 1871. Jul 21, 2023 In 2021, services contributed the most to France's gross domestic product (GDP), with a share of just over 70 percent. These projections also incorporate the budgetary impact of the investment plan France 2030 (0.1% of GDP) and the estimated cost of hosting persons fleeing Ukraine. However, the France data were flattered by temporary factors and, in any case, we still think growth will cool in the second half of the year. Jul 21, 2023 In 2021, services contributed the most to France's gross domestic product (GDP), with a share of just over 70 percent. 288 of the airports have paved runways, with the remaining 199 being unpaved. It compares with a 6.8% growth in 2021 and a 7.9% drop in 2020, as the France International Financial Statistics, Units: In 2016, the UK was the tenth-largest exporter of goods in the world, exporting goods to 160 countries worldwide. France | Data However, the most popular site in France is Disneyland Paris, with 9.7million visitors in 2017[82]. The most important rgions are le-de-France (world's 4th and Europe 1st wealthiest and largest regional economy), Rhne-Alpes (Europe's 5th largest regional economy thanks to its services, high-technologies, chemical industries, wines, tourism), Provence-Alpes-Cte d'Azur (services, industry, tourism and wines), Nord-Pas-de-Calais (European transport hub, services, industries) and Pays de la Loire (green technologies, tourism). Debt held by the public, a measure of national debt, was approximately $14.7 trillion or 77% of GDP in 2017, ranked the 43rd highest out of 207 countries. WebThis first list is a list of countries by military expenditure share of GDPmore specifically, a list of the top 15 countries by percentage share in recent yearsthe amount spent by a nation on its military as a share of its GDP. Brazil has the worlds 73rd highest per capita GDP of $8,967 and a GDP (PPP) of $2.40 trillion. One Federal Reserve Bank Plaza, Then, using a consistent amount of money, the quantity of goods and services that may be purchased in the countries is compared. France GDP 1960-2023 | MacroTrends GDP in the United Kingdom averaged 1314.30 USD Billion from 1960 until 2022, reaching an all time high of 3122.48 Brazil ranks 11 th in our list of the 50 largest economies in the world in 2023. Canadas per capita GDP of $46,260.71 is ranked 20th globally while its GDP (PPP) of $1.84 trillion is ranked 17th globally. Annual average unemployment rate in Germany 2005-2023; Germany: real economy debt change from 2007 to 2014; Germany: labor productivity compared to the EU28 average 2005-2016 While the 2008 financial crisis took a hit on the Japanese economy and has stunted its growth since then, it is expected that the 2020 Olympics will give it a boost. Keynesian economists's theories led to the introduction of the 35-hour workweek law in 1999. The name used in the IMF report is "Hong Kong SAR". Brazil is a developing free-market economy. [30] Due to a volatile currency exchange rate, France's GDP as measured in dollars fluctuates sharply. France also attracts many religious pilgrims to Lourdes, a town in the Hautes-Pyrnes dpartement, which hosts several million visitors a year. According to figures from 2003, some popular tourist sites include (in visitors per year):[81] Eiffel Tower (6.2million), Louvre Museum (5.7million), Palace of Versailles (2.8million), Cit des Sciences et de l'Industrie (2.6million), Muse d'Orsay (2.1million), Arc de Triomphe (1.2million), Centre Pompidou (1.2million), Mont-Saint-Michel (1million), Chteau de Chambord (711,000), Sainte-Chapelle (683,000), Chteau du Haut-Knigsbourg (549,000), Puy de Dme (500,000), Muse Picasso (441,000), Carcassonne (362,000). GDP rank: 1st (nominal; 2023) France, India, and Brazil combined. GDP The big increases in Q2 GDP in Spain and particularly France suggest that the euro-zone has so far coped with policy tightening much better than feared. Frances economy is a diversified free-market-oriented economy. The wave of social unrest following the pension reform is expected to weigh on economic activity in the first half of the year. [5], The rankings of national economies over time have changed considerably; the United States surpassed the British Empire's output around 1916,[6] which in turn had surpassed the Qing dynasty in aggregate output decades earlier. [46] La Dfense, Paris's Central Business District, was ranked by Ernst & Young in 2017 as the leading business district in continental Europe, and fourth in the world. In turn, interest payments on government debt are projected to broadly stabilise at around 2% of GDP. Economy The global economy faces an uncertain future in 2023. [36] It was the fifth-largest trading nation in the world (and second in Europe after Germany). The name used in the IMF and World Bank reports is "West Bank and Gaza". [39], According to the International Monetary Fund (IMF), in 2022, France was the world's 26th country by GDP per capita with $44,747 per inhabitant. France Due to its heavy investment in nuclear power, France is the smallest emitter of carbon dioxide among the seven most industrialized countries in the world. Wall Street activity in the battle to provide custody services for the more than trillion-dollar digital-asset market is heating up rapidly, and in surprising ways, turning WebFrance: (GDP: 2.78 trillion) India: (GDP: 2.72 trillion) Italy: (GDP: 2.07 trillion) Brazil: (GDP: 1.87 trillion) Canada: (GDP: 1.71 trillion) The Largest Economies in the World. Japan has the third-largest economy in the world with a GDP of $5.15 trillion. "[87], According to 2017 data compiled by Deloitte, Louis Vuitton Moet Hennessey (LVMH), a French brand, is the largest luxury company in the world by sales, selling more than twice the amount of its nearest competitor. 2023-07-26T06:00:06-04:00. Free and open access to global development data. Italy is the eighth-largest exporter in the world, conducting 59% of its trade with other European Union countries. The rural areas are mainly in Auvergne, Limousin, and Centre-Val de Loire, and wine production accounts for a significant proportion of the economy in Aquitaine (Bordeaux (or claret)), Burgundy, and champagne produced in Champagne-Ardennes. Northern France is characterized by large wheat farms. PPP GDP is used to measure both the economic growth and living standards in a country, making it a useful tool in global comparisons. The table initially ranks each country or territory with their latest available estimates, and can be reranked by either of the sources. On the whole, PPP per capita figures are less spread than nominal GDP per capita figures. [33] The tax on wealth is paid by 1.1M of people in France, the payment of this tax starts when a 1.3M of assets is reached (there is a discount on the principal residence value). [69], France was in 2019 the world's 8th largest manufacturer in terms of value added, according to the World Bank. UK Drop-In: Bank of England Another 50bps hike or back to 25bps?
