The French economy is one of the world’s main economies. The country has a substantial international trade. China, the United States and Japan are the principal trading partners. It is – after the United States – the biggest exporter of agrarian products. So agriculture matters more here than in most other European industrialized nations.
Services are one of the busiest sectors: about 70% of the working population is employed in the services sector. About 25% of the labour force works in the industrial sector and approximately 4% in the agricultural sector. Important French industries are the automotive sector, metals, machinery and electronics. Other busy sectors include the chemical, aviation and food industries. Last but not least, high-tech business is another fast-growing sector.
Growing and lucrative sectors
- The biotechnology sector can boast a considerable number of companies. There are 260 plants in this sector and only 6% of these companies are older than 10 years.
- The services sector is also very important, as 30% of the French citizens are aged 50 or over. Their medical care and other needs could be a new boost for the economy.
- A large proportion of the trendsetting players for big infrastructure projects are based in France.
- The aviation industry expects a year-on-year growth of about 7%.
Exports: 332.6 billion euros
- Commodities: machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel and beverages
- Main trading partners: Germany 15%, Spain 9.4%, UK 9.3%, Italy 9%, Belgium 7.2% and the USA 6.7%
Imports: 349.1 billion euros
- Commodities: machinery and equipment, vehicles, crude oil, aircraft, plastics and chemicals
- Main trading partners: Germany 19.2%, Belgium 9.8%, Italy 8.8%, Spain 7.3%, UK 7%, Netherlands 6.7% and the USA 5.1%
Useful facts
GDP: 1,558.1 billion euros
Growth rate of GDP: 2.3%
Inflation rate: 2.3%
Labour force: 27.7 million
Unemployment rate: 10.1%
