 La Défense (Paris), is the financial hub of France and Europe's largest business and economic district | |
| Currency | Euro (EUR, €) |
|---|---|
| Calendar year | |
Trade organisations | EU,WTO,G-20,G7 andOECD |
Country group | |
| Statistics | |
| Population |  69,710,000 (July 2025)[5] |
| GDP | |
| GDP rank | |
GDP growth | |
GDP per capita | |
GDP per capita rank | |
GDP by sector |
|
Population belowpoverty line |
|
 30.0medium (2024)[9] | |
 67 out of 100 points (2024)[11] (rank 25th) | |
Labour force |
|
Labour force by occupation |
|
| Unemployment | |
Average gross salary | €3,747 / $4,049 monthly (2024)[15][16] |
| €2,696 / $2,913 monthly (2024)[17][18] | |
Main industries | |
| External | |
| Exports | |
Export goods | machinery and equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, cement, beverages , foods , transport equipement, High-technology, agricultural products |
Main export partners |
|
| Imports | |
Import goods | machinery and equipment, vehicles, crude oil, gas, aircraft, plastics, chemicals, Engineering products, energy products, textiles and clothing |
Main import partners |
|
FDI stock | |
Grossexternal debt | $5.250 trillion (31 March 2017)[20] |
| Public finances | |
| 309 billion euro (February 2023)[21] | |
| Revenues | 51.3% of GDP (2024)[22] |
| Expenses | 57.1% of GDP (2024)[22] |
| Economic aid |
|
All values, unless otherwise stated, are inUS dollars. | |
France has ahighly developedsocial market economy with strongstate participation in strategic sectors.[29] It is the world'sseventh-largest economy by nominal GDP and theninth-largest economy byPPP,[30] constituting around 3% ofworld GDP.[31] Due to a volatile currencyexchange rate, France's GDP as measured in dollars fluctuates sharply, by 2025 it is 15% larger than in 2008. France has a diversified economy,[32] that is dominated by theservice sector (which in 2017 represented 78.8% of its GDP), whilst theindustrial sector accounted for 19.5% of its GDP and theprimary sector accounted for the remaining 1.7%.[33] In 2024, France was the largestForeign Direct Investment recipient in Europe,[34] and Europe's second-largest spender inresearch and development.[35] It was ranked among the 10 mostinnovative countries in the world by the 2020Bloomberg Innovation Index,[36] as well as the 15th most competitive nation globally according to the 2019Global Competitiveness Report (up 2 notches compared to 2018).[37] It wasthe fifth-largest trading nation in the world (and second in Europe after Germany).France is also the most visited destination in the world,[38][39] as well as theEuropean Union's leading agricultural power.[40]
According to theInternational Monetary Fund (IMF), in 2025, France was theworld's 25th country by GDP per capita with $49,823 per inhabitant. In 2023, France was listed on the United Nations'sHuman Development Index with a value of 0.920 (indicating very high human development) and 25th on theCorruption Perceptions Index in 2024.[41][42] AmongOECD members, France has a highly efficient and strongsocial security system, which comprisesroughly 31.7% of GDP.[4][43][3]
Paris is a leadingglobal city, and has one of the largest city GDP in the world.[44] It ranks as the first city in Europe (and 3rd worldwide) by the number of companies classified inFortune'sFortune Global 500.[45]Paris produced US$738 billion (or US$882 billion atmarket exchange rates) or around 1/3 of the French economy in 2018[46] while the economy of theParis metropolitan area—the largest in Europe with London—generates around 1/3 of France's GDP or around $1.0 trillion.[47] Paris has been ranked as the 2nd most attractive global city in the world in 2019 byKPMG.[48]La Défense, Paris's Central Business District, was ranked byErnst & Young in 2017 as the leading business district incontinental Europe, and fourth in the world.[49] TheOECD is headquartered in Paris, the nation's financial capital. The other major economic centres of the country includeLyon,Toulouse (centre of the European aerospace industry),Marseille andLille.
France's economy entered therecession of the late 2000s later and appeared to leave it earlier than most affected economies, only enduring four-quarters of contraction.[50] However, France experienced stagnant growth between 2012 and 2014, with the economy expanding by 0% in 2012, 0.8% in 2013 and 0.2% in 2014. Growth picked up in 2015 with a growth of 0.8%. This was followed by a growth of 1.1% for 2016, a growth of 2.2% for 2017, and a growth of 2.1% for 2018.[51]
According to INSEE (2021), non-financial and non-agricultural medium-sized firms employed 3 million full-time equivalent employees (24.3% of the workforce), accounted for 27% of investment, 30% of turnover, and 26% of value added, despite accounting for only 1.6% of total firms in France.[52][53]
With 31 companies that are part of theworld's biggest 500 companies, France was in 2020 the most represented European country in the 2020Fortune Global 500, ahead of Germany (27 companies) and the UK (22).[54]
As of August 2020, France was also the country that weighed the most on the Eurozone'sEURO STOXX 50 (representing 36.4% of all total assets), ahead of Germany (35.2%).[55]
Several French corporations rank amongst the largest in their industries such asAxa in insurance andAir France in air transportation.[56] Luxury and consumer goods are particularly relevant, withL'Oreal being the world's largest cosmetic company whileLVMH andKering are the world's two largest luxury product companies. In energy and utilities,GDF-Suez andEDF are amongst the largest energy companies in the world, andAreva is a large nuclear-energy company;Veolia Environnement is the world's largest environmental services and water management company;Vinci SA,Bouygues andEiffage are large construction companies;Michelin ranks in the top 3 tire manufacturers;JCDecaux is the world's largest outdoor advertising corporation;BNP Paribas,Credit Agricole andSociété Générale rank amongst the largest banks in the world by assets.Capgemini andAtos are among the largest technology consulting companies.
Carrefour is the world's second-largest retail group in terms of revenue;Total is the world's fourth-largest private oil company;Lactalis is the world's largest dairy products group;Sanofi is the world's fifth-largest pharmaceutical company;Publicis is the world's third-largest advertising company;Groupe PSA is the world's 6th and Europe's 2nd largest automaker;Accor is the leading European hotel group;Alstom is one of the world's leading conglomerates in rail transport.
In 2022, the sector with the highest number of companies registered in France is Finance, Insurance, and Real Estate with 2,656,178 companies followed by Services and Retail Trade with 2,090,320 and 549,395 companies respectively.[57]
France embarked on an ambitious and very successful programme of modernisation under state coordination. This programme ofdirigisme, mostly implemented by governments between 1944 and 1983, involved the state control of certain industries such as transportation, energy and telecommunications as well as various incentives for private corporations to merge or engage in certain projects
The 1981 election of presidentFrançois Mitterrand saw a short-lived increase in governmental control of the economy, nationalizing many industries and private banks. This form of increaseddirigisme, was criticised as early as 1982. By 1983, the government decided to renouncedirigisme and start an era ofrigueur ("rigor") or corporation. As a result, the government largely retreated from economic intervention;dirigisme has now essentially receded, though some of its traits remain. The French economy grew and changed under government direction and planning much more than in other European countries.
Despite being a widely liberalised 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. Labor conditions and wages are highly regulated. The government continues to own shares in corporations in several sectors, including energy production and distribution, automobiles, aerospace industry, shipbuilding, thearms industry, electronics industry, machine industry, metallurgy, fuels, chemical industry, transportation, and telecommunications.[58][59]
France has a mixed market economy, with the majority of market activity driven by competitive private firms. However, a significant share of the market is owned by the state. According to France’s National Institute of Statistics and Economic Studies (INSEE)[60], 1,751 French companies were state-controlled by the end of 2017. OECD identified the state-owned primary sectors as energy, transportation, finance, and manufacturing[61]. The state maintains ownership of key sectors to ensure strategic control and prevent private monopolies.
In April and May 2012, France held apresidential election in which the winnerFrançois Hollande had opposed austerity measures, promising to eliminate France's budget deficit by 2017. The new government stated that it aimed to cancel recently enacted tax cuts and exemptions for the wealthy, raising the top tax bracket rate to 75% on incomes over a million euros, restoring the retirement age to 60 with a full pension for those who have worked 42 years, restoring 60,000 jobs recently cut from public education, regulating rent increases; and building additional public housing for the poor.
In June 2012, Hollande'sSocialist Party won an overall majority in thelegislative elections, giving it the capability to amend theFrench Constitution and allowing immediate enactment of the promised reforms. French government bond interest rates fell 30% to record lows,[62] less than 50basis points above German government bond rates.[63]
Hollande's successor as President of France,Emmanuel Macron, a centrist politician, took office in May 2017. His aim was to revive the euro zone’s second-largest economy.[64]
In July 2020, during theCOVID-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).[65]
France possesses in 2020 thefourth-largest gold reserves in the world.[66]
Macron vowed in May 2023 to build factories, boost job creations and makeFrance more independent, shaked bypension protests.[67]
The Government of France has run abudget deficit each year since the early 1970s. As of 2021, French government debt reached an equivalent of 118.6% of French GDP.[68]
Under European Union rules, member states are supposed to limit their debt to 60% of output or be reducing the ratio structurally towards this ceiling, and run public deficits of no more than 3.0% of GDP.[69]
In late 2012,credit-rating agencies warned that growing French government debt levels riskedFrance's AAA credit rating, raising the possibility of a future credit downgrade and subsequent higher borrowing costs for the French government.[70] In 2012 France was downgraded by ratings agenciesMoody's,Standard & Poor's (S&P), andFitch to an AA+ credit rating.[71][72]
In December 2014 France's credit rating was further downgraded by Fitch and S&P to AA.[73]
Macron, shaken by pension protests, vowed in May 2023 to build factories, boost job creations and make France more independent.[74]
The Government of France experienced a significant shift in itsbond market position on September 26, 2024, when its bond yield surpassed that ofSpain for the first time since 2007.[75] The yield on 10-year French bonds reached 2.97%, slightly exceeding the yield on Spanish bonds of similar maturity, despite France's typically highercredit rating.This development raised concerns among investors about France's ability to manage itspublic finances effectively. France's bond yields were reported to be higher than those ofPortugal and approaching levels seen inItaly andGreece, countries traditionally viewed as having higher economic risks in theEurozone.[75]
Furthermore, France faces abudget crisis in 2024, with the deficit at risk of exceeding 6% of GDP, significantly higher than the previous government's estimate of 5.1%. Newly appointed Finance MinisterAntoine Armand and Budget MinisterLaurent Saint-Martin pledged to focus onspending cuts before consideringtax increases to address the fiscal shortfall. Prime MinisterMichel Barnier was tasked with finalizing the 2025 budget within days, amidst pressure to present realistic plans for deficit reduction.[76]
The following table shows the main economic indicators in 1980–2021 (with IMF staff estimates in 2022–2027). Inflation below 5% is in green.[77]
| Year | GDP (in bn. US$PPP | GDP per capita (in US$PPP) | GDP (in bn. US$nominal) | GDP per capita (in US$ nominal) | GDP growth (real) | Inflation rate (% per annum) | Unemployment rate | Government debt (% of GDP) |
|---|---|---|---|---|---|---|---|---|
| 1980 | 578.2 | 10,761.0 | 702.2 | 13,069.5 | 1.8% | 13.1% | 6.3% | 20.8% |
| 1981 | 639.7 | 11,839.6 | 619.0 | 11,456.0 | 1.1% | 13.3% | 7.4% | 22.0% |
| 1982 | 695.9 | 12,806.8 | 588.0 | 10,822.0 | 2.5% | 12.0% | 8.1% | 25.4% |
| 1983 | 732.2 | 13,397.2 | 562.5 | 10,292.8 | 1.3% | 9.5% |  7.4% | 26.7% |
| 1984 | 770.6 | 14,037.1 | 532.3 | 9,697.4 | 1.6% | 7.7% | 8.5% | 29.1% |
| 1985 | 808.6 | 14,660.1 | 557.6 | 10,108.6 | 1.7% | 5.8% | 8.7% | 30.7% |
| 1986 | 843.7 | 15,225.8 | 772.8 | 13,947.3 | 2.3% | 2.5% | 8.9% | 31.3% |
| 1987 | 886.8 | 15,926.7 | 935.1 | 16,794.0 | 2.6% | 3.3% | 9.2% | 33.7% |
| 1988 | 960.2 | 17,157.3 | 1,020.9 | 18,241.0 | 4.6% | 2.7% | 8.8% | 33.6% |
| 1989 | 1,043.1 | 18,536.6 | 1,026.2 | 18,236.8 | 4.5% | 6.6% | 8.7% | 34.4% |
| 1990 | 1,113.4 | 19,680.1 | 1,272.4 | 22,490.3 | 2.9% | 0.3% | 8.4% | 35.6% |
| 1991 | 1,163.6 | 20,471.7 | 1,273.6 | 22,406.4 | 1.1% | 3.4% | 8.6% | 36.5% |
| 1992 | 1,207.9 | 21,150.8 | 1,404.4 | 24,590.7 | 1.5% | 2.5% | 9.4% | 40.2% |
| 1993 | 1,228.1 | 21,407.8 | 1,324.2 | 23,082.7 | -0.7% | 2.2% | 10.3% | 46.6% |
| 1994 | 1,284.0 | 22,305.4 | 1,396.7 | 24,262.2 | 2.4% | 1.7% | 10.7% | 49.9% |
| 1995 | 1,340.6 | 23,212.9 | 1,602.1 | 27,741.3 | 2.3% | 1.8% | 10.5% | 56.1% |
| 1996 | 1,383.6 | 23,882.3 | 1,606.0 | 27,720.9 | 1.4% | 2.1% | 10.8% | 60.0% |
| 1997 | 1,440.4 | 24,784.8 | 1,454.6 | 25,028.5 | 2.3% | 1.3% | 10.9% | 61.4% |
| 1998 | 1,509.1 | 25,884.7 | 1,505.2 | 25,818.4 | 3.6% | 0.7% | 10.7% |  61.4% |
| 1999 | 1,580.7 | 27,021.4 | 1,494.6 | 25,550.8 | 3.3% | 0.6% | 10.4% | 60.5% |
| 2000 | 1,683.0 | 28,594.2 | 1,366.2 | 23,212.5 | 4.1% | 1.8% | 9.2% | 58.9% |
| 2001 | 1,754.2 | 29,598.8 | 1,377.7 | 23,245.3 | 1.9% | 1.8% | 8.5% | 58.3% |
| 2002 | 1,802.5 | 30,199.5 | 1,500.3 | 25,137.4 | 1.2% | 1.9% | 8.3% | 60.3% |
| 2003 | 1,853.5 | 30,840.1 | 1,844.1 | 30,682.6 | 0.8% | 2.2% | 8.5% | 64.4% |
| 2004 | 1,951.9 | 32,260.2 | 2,118.7 | 35,016.2 | 2.6% | 2.3% | 8.9% | 65.9% |
| 2005 | 2,048.0 | 33,594.5 | 2,198.2 | 36,057.1 | 1.7% | 1.9% | 8.9% | 67.4% |
| 2006 | 2,167.0 | 35,292.8 | 2,320.7 | 37,795.9 | 2.6% | 1.9% | 8.9% | 64.6% |
| 2007 | 2,278.5 | 36,871.8 | 2,660.9 | 43,060.0 | 2.4% | 1.6% | 8.0% | 64.5% |
| 2008 | 2,325.8 | 37,432.1 | 2,930.0 | 47,155.2 | 0.2% | 3.2% | 7.4% | 68.8% |
| 2009 | 2,275.5 | 36,428.3 | 2,698.0 | 43,191.0 | -2.8% | 0.1% | 9.1% | 83.0% |
| 2010 | 2,344.8 | 37,358.4 | 2,647.3 | 42,178.6 | 1.8% | 1.7% | 9.3% | 85.3% |
| 2011 | 2,446.5 | 38,789.6 | 2,864.7 | 45,420.0 | 2.2% | 2.3% | 9.2% | 87.8% |
| 2012 | 2,474.0 | 39,037.0 | 2,685.4 | 42,372.1 | 0.4% | 2.2% | 9.8% | 90.6% |
| 2013 | 2,608.5 | 40,951.5 | 2,811.9 | 44,144.6 | 0.7% | 1.0% | 10.3% | 93.4% |
| 2014 | 2,662.0 | 41,576.1 | 2,856.7 | 44,616.5 | 1.0% | 0.6% | 10.3% | 94.9% |
| 2015 | 2,719.2 | 42,289.1 | 2,439.4 | 37,937.9 | 1.1% | 0.1% | 10.4% | 95.6% |
| 2016 | 2,863.8 | 44,421.7 | 2,472.3 | 38,348.5 | 1.0% | 0.3% | 10.1% | 98.0% |
| 2017 | 2,997.3 | 46,369.7 | 2,594.2 | 40,134.1 | 2.4% | 1.2% | 9.4% | 98.1% |
| 2018 | 3,124.8 | 48,190.0 | 2,792.2 | 43,060.6 | 1.8% | 2.1% | 9.0% | 97.8% |
| 2019 | 3,240.6 | 49,782.0 | 2,729.2 | 41,924.8 | 1.9% | 1.3% | 8.4% | 97.4% |
| 2020 | 3,020.5 | 46,267.4 | 2,636.0 | 40,377.5 | -7.9% | 0.5% | 8.0% | 114.7% |
| 2021 | 3,358.9 | 51,322.3 | 2,957.4 | 45,187.8 | 6.8% | 2.1% | 7.9% | 112.6% |
| 2022 | 3,688.3 | 56,199.9 | 2,778.1 | 42,330.5 | 2.5% | 5.8% | 7.5% | 111.8% |
| 2023 | 3,844.9 | 58,420.6 | 2,806.7 | 42,646.0 | 0.7% | 4.6% | 7.6% | 112.5% |
| 2024 | 3,986.7 | 60,406.6 | 2,932.4 | 44,431.0 | 1.6% | 2.4% | 7.5% | 113.5% |
| 2025 | 4,134.5 | 62,469.8 | 3,057.2 | 46,193.3 | 1.8% | 1.8% | 7.5% | 114.9% |
| 2026 | 4,282.9 | 64,531.7 | 3,179.5 | 47,906.1 | 1.7% | 1.6% | 7.4% | 116.5% |
| 2027 | 4,428.6 | 66,540.8 | 3,299.7 | 49,579.1 | 1.4% | 1.6% | 7.4% | 118.5% |
In 2019, France was the world's 8th largest manufacturer in terms ofvalue added, according to theWorld Bank.[78]
The leading industrial sectors in France are telecommunications (including communication satellites), aerospace and defence, ship building, pharmaceuticals, construction and civil engineering, chemicals, textiles, and automobile production. Thechemical industry is a key sector for France, helping to develop other manufacturing activities and contributing to economic growth.[79]
Research and development spending is also high in France at 2.26% of GDP, the fourth-highest in the OECD.[80]
Industry contributes to French exports: as of 2018, the Observatory of Economic Complexity estimates that France's largest exports "are led by planes, helicopters, and spacecraft ($43.8 billion), cars ($26 billion), packaged medicaments ($25.7 billion), vehicle parts ($16.5 billion), andgas turbines ($14.4 billion)."[81]
In December 2023, industrial production in France experienced its most significant change since May of the same year, with a notable increase of 1.1%.[82]
France is the world-leading country in nuclear energy, home of global energy giantsAreva,EDF andGDF Suez:nuclear power now accounts for about 78% of the country's electricity production, up from only 8% in 1973, 24% in 1980, and 75% in 1990.Nuclear waste is stored on site at reprocessing facilities. Due to itsheavy investment in nuclear power, France is the smallest emitter ofcarbon dioxide among the seven most industrialised countries in the world.[84] Due to its overwhelming reliance on nuclear power,renewable energies have seen relatively little growth compared to other Western countries.
In 2006, electricity generated in France amounted to 548.8TWh, of which:[85]
In November 2004,EDF (which stands for Electricité de France), one of the world's largest utility company and France's largest electricity provider, was floated with huge success on the French stock market. However, the French state still retains 70% of the capital. Other electricity providers includeCompagnie nationale du Rhône (CNR) andEndesa (throughSNET).
France is the world's sixth largest agricultural producer and EU's leading agricultural power, accounting for about one-third of all agricultural land within the EU. In the early 1980s, France was the leading producer of the three principal grains of wheat, barley, and maize. Back in 1983, France produced around 24.8 million tonnes, ahead of the United Kingdom and West Germany, the next two largest wheat producers.[86]
Northern France is characterised 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 theCommon Agricultural Policy (CAP) and theUruguay Round of theGeneral Agreement on Tariffs and Trade (GATT) have resulted in reforms in the agricultural sector of the economy.
As the world's second-largest agricultural exporter, France ranks just after the United States.[87] The destination of 49% of its exports is otherEU members states. France also provides agricultural exports to many poor African countries (including its former colonies) which face serious food shortages. Wheat, beef, pork, poultry, and dairy products are the principal exports.
Exports from the United States face stiff competition from domestic production, other EU member states, and third-world countries in France. US agricultural exports to France, totaling some $600 million annually, consist primarily of soybeans and soybean products, feeds and fodders, seafood, and consumer products, especially snack foods and nuts. French exports to the United States are much more high-value products such asits cheese, processed products andits wine.
The French agricultural sector receives almost €11 billion in EU subsidies. France produced in 2018 39.5 million tons ofsugar beet (2nd largest producer in the world, just behind Russia), which serves to produce sugar andethanol; 35.8 million tons of wheat (5th largest producer in the world); 12.6 million tons of maize (11th largest producer in the world); 11.2 million tons ofbarley (2nd largest producer in the world, only behind Russia); 7.8 million tons of potato (8th largest producer in the world); 6.2 million tons of grape (5th largest producer in the world); 4.9 million tons ofrapeseed (4th largest producer in the world, behind Canada, China and India); 2.2 million tons ofsugarcane; 1.7 million tons of apple (9th largest producer in the world); 1.3 million tons oftriticale (4th largest producer in the world, only behind Poland, Germany and Belarus); 1.2 million tons ofsunflower seed (9th largest producer in the world); 712 thousand tons oftomatoes; 660 thousand tons oflinen; 615 thousand tons of drypea; 535 thousand tons of carrot; 427 thousand tons ofoats; 400 thousand tons ofsoy; in addition to smaller productions of other agricultural products.[88]
France is the world's most popular tourist destination with more than 83.7 million foreign tourists in 2014,[89] ahead of Spain (58.5 million in 2006) and the United States (51.1 million in 2006). This figure excludes people staying less than 24 hours in France, such as northern Europeans crossing France on their way to Spain or Italy during the summer.
According to figures from 2003, some popular tourist sites include (in visitors per year):[90]Eiffel Tower (6.2 million),Louvre Museum (5.7 million),Palace of Versailles (2.8 million),Cité des Sciences et de l'Industrie (2.6 million),Musée d'Orsay (2.1 million),Arc de Triomphe (1.2 million),Centre Pompidou (1.2 million),Mont-Saint-Michel (1 million),Château de Chambord (711,000),Sainte-Chapelle (683,000),Château du Haut-Kœnigsbourg (549,000),Puy de Dôme (500,000),Musée Picasso (441,000),Carcassonne (362,000). However, the most popular site in France isDisneyland Paris, with 9.7 million visitors in 2017[91]
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The French government is the French arms industry's main customer, mainly buying warships, guns, nuclear weapons and equipment.
During the 2000–2015 period, France was the fourth largestweapons exporter in the world.[92][93]
French manufacturers export great quantities of weaponry to Saudi Arabia, the United Arab Emirates, Brazil, Greece, India, Pakistan, Taiwan, Singapore and many others. It was reported that in 2015, French arms sales internationally amounted to 17.4 billion U.S. dollars,[94] more than double the figure of 2014.[95]
According to 2017 data compiled byDeloitte,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.[96] Moreover, France also possesses 3 of the top 10 luxury goods companies by sales (LVMH,Kering SA,L'Oréal), more than any other country in the world.[96]
Paris is considered one of the world's foremostfashion capitals, or even "the world's fashion capital".[97] The French tradition forhaute couture has been estimated to start as early as the era ofLouis XIV, the Sun King.[98]
Education in France is organised in a highly centralised manner, with many subdivisions.[99] It is divided into the three stages of primary education (enseignement primaire), secondary education (enseignement secondaire), and higher education (enseignement supérieur). In French higher education, the following degrees are recognised by theBologna Process (EU recognition):Licence andLicence Professionnelle (bachelor's degrees), and the comparably namedMaster andDoctorat degrees.[100]
TheProgramme for International Student Assessment coordinated by theOECD currently ranks the overall knowledge and skills of French 15-year-olds as 26th in the world in reading literacy, mathematics, and science, near the OECD average of 493.[101] France's performance in mathematics and science at the middle school level was ranked 23 in the 1995Trends in International Math and Science Study.[102]
TheOECD also found that students in France reported greater concern about discipline and behaviour at school and in classrooms, much more than the rest of Europe.[104] This was higher than allOECD countries.[105][104] School principals reported higher staff and material shortage in France, higher thanOECD averages.[104] About 7% of French teachers believe the teaching profession is highly valued in France and in society.[106][104] School principals noted regular acts of violence and bullying among their students, higher than averages.[106] The time spent of teaching time spent on keeping classes in good order is one of the largest in France, among allOECD countries studied.[106][104] France also has a highdrop out rate.[106][107]
Pupils can take apprenticeships to enter thelabour market with theBaccalauréat Technologique. It allows pupils pursue short and technical studies (laboratory, design and applied arts, hotel and restaurant, management etc).
Higher education in France was reshaped by the student revolts ofMay 1968. During the 1960s, French public universities responded to a massive explosion in the number of students (280,000 in 1962–63 to 500,000 in 1967–68) by stuffing approximately one-third of their students into hastily developed campus annexes (roughly equivalent to Americansatellite campuses) which lacked decent amenities, resident professors, academic traditions, or the dignity of university status.[108] This is why the Frenchhigher education economy performs poorly compared with other high-performing countries such asEngland orAustralia. France also hosts variouscatholic universities recognised by the state, the largest one beingLille Catholic University,[109] as well branch colleges of foreign universities. They includeBaruch College, theUniversity of London Institute in Paris,Parsons Paris School of Art and Design and theAmerican University of Paris. Eighteen million pupils and students are in the education system, over 2.4 million of whom are inhigher education.[110]
Transportation in France relies on one of the densest networks in the world with 146 km of road and 6.2 km of rail lines per 100 km2. It is built as a web with Paris at its centre.[111] The highly subsidisedrail transport network makes up a relatively small portion of travel, most of which is done by car. However, the high-speedTGV trains make up a large proportion of long-distance travel, partially because intercity buses were prevented from operating until 2015.
With 3,220 kilometers ofhigh-speed train lines, France boast the 2nd most expansive network in the world, only after China.[112]Charles de Gaulle Airport is one of the busiest airports in the world by passenger traffic.[113] Charles de Gaulle airport is third globally in the number of destinations served, and first in the number of countries served with non-stop flights.[114]
France also boasts a number of seaports and harbours, includingBayonne,Bordeaux,Boulogne-sur-Mer,Brest,Calais,Cherbourg-Octeville,Dunkerque,Fos-sur-Mer,La Pallice,Le Havre,Lorient,Marseille,Nantes, Nice, Paris,Port-la-Nouvelle,Port-Vendres,Roscoff,Rouen,Saint-Nazaire,Saint-Malo,Sète,Strasbourg andToulon. There are approximately 470 airports in France and by a 2005 estimate, there are three heliports. 288 of the airports have paved runways, with the remaining 199 being unpaved. The national carrier of France isAir France, a full service global airline which flies to 20 domestic destinations and 150 international destinations in 83 countries (includingOverseas France) across all 6 major continents.
According to a study conducted byErnst & Young, France was in 2020 the largestForeign Direct Investment recipient in Europe, ahead of the UK and Germany.[34] EY attributed this as a "direct result ofPresident Macron’s reforms of labor laws and corporate taxation, which were well received by domestic and international investors alike."[34]
France scored 5th in the 2019AT Kearney FDI Confidence Index, up 2 notches from its 2017 ranking.[115]
According to a 2011 report by the AmericanBureau of Labor Statistics (BLS), France's GDP per capita atpurchasing power parity is similar to that of the UK, with just over US$35,000 per head.[116] To explain why French per capita GDP is lower than that of the United States, the economistPaul Krugman stated that "French workers are roughly as productive as US workers", but that the French have alower workforce participation rate, and "when they work, they work fewer hours". According to Krugman, the difference is due to the French making "different choices about retirement and leisure".[117]
France has long suffered a relatively high unemployment rate,[118] even during the years when its macroeconomic performances compared favourably with other advanced economies.[119] The employment rate of the French 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%.[120] This gap is due to the low employment rate of those 15–24 years old: 38% in 2012, compared to 47% in the OECD.
Since hiselection in 2017,Emmanuel Macron has introduced several labour market reforms which proved successful in decreasing the unemployment rate before the globalCOVID-19 recession struck.[121] In late 2019, the French unemployment rate, though still high compared to other developed economies, was the lowest in a decade.[122]
During the 2000s and 2010s,classical liberal andKeynesian economists sought out different solutions to the unemployment issue in France. Keynesian economists's theories led to the introduction of the35-hour workweek law in 1999. Between 2004 and 2008, the government attempted to combat unemployment with supply-side reforms, but was met with fierce resistance;[123] thecontrat nouvelle embauche and thecontrat première embauche (which allowed more flexible contracts) were of particular concern, and both were eventually repealed.[124] The Sarkozy government used therevenu de solidarité active (in-work benefits) to redress thenegative effect of therevenu minimum d'insertion (unemployment benefits which do not depend on previous contributions, unlike normal unemployment benefits in France) on the incentive to accept even jobs which are insufficient to earn a living.[125]Neoliberal economists attribute the low employment rate, particularly evident among young people, to highminimum wages that would prevent low productivity workers from easily entering the labour market.[126]
A December 2012New York Times article reported on a "floating generation" in France that formed part of the 14 million unemployed young Europeans documented by the Eurofound research agency.[127] Thisfloating generation was attributed to a dysfunctional system: "an elitist educational tradition that does not integrate graduates into the work force, a rigid labour market that is hard to enter for newcomers, and a tax system that makes it expensive for companies to hire full-time employees and both difficult and expensive to lay them off".[128] In July 2013, the unemployment rate for France was 11%.[129]
In early April 2014, employers' federations and unions negotiated an agreement with technology and consultancy employers, as employees had been experiencing an extension of their work time throughsmartphone communication outside of official working hours. Under a new, legally binding labour agreement, around 250,000 employees will avoid handling work-related matters during their leisure time and their employers will, in turn, refrain from engaging with staff during this time.[130]
Every day, about 80,000 French citizens commute to work in neighbouringLuxembourg, making it the biggest cross-border workforce group in the whole of theEuropean Union.[131] They are attracted by much higher wages for the different job groups than in their own country and the lack of skilled labour in the booming Luxembourgish economy.
The background of the 2023pension reform was about 14% of GDP pension spending in France compared to OECD average of just over 9%. The aim of the pension reform was to reduce cost by increasing the minimum legal retirement age from 62 years to 64 years in 2030.[132] In April 2023, president Emmanuel Macron signed the pension reforms into law.[133]
In 2018, France was the 5th largest trading nation in the world, as well as the second-largest trading nation in Europe (after Germany).[134] Its foreign trade balance for goods had been in surplus from 1992 until 2001, reaching $25.4billion (25.4 G$) in 1998; however, the Frenchbalance of trade was hit by the economic downturn, and went into the red in 2000, reaching a US$15bn 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, US–France trade stood at about $47 billion – goods only. According to French trade data, US exports accounted for 8.7% – about $25 billion – of France's total imports. US 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.
The principal French exports to the US are aircraft and engines, beverages, electrical equipment, chemicals, cosmetics, luxury products and perfume. France is the ninth-largest trading partner of the US.
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In August 2023, the French current account deficit shrank by €29.7 billion in the past six months, from −€39.3 billion to −€9.6 billion, primarily due to a fall in energy prices.[136]
The economic disparity between French regions is not as high as that in other European countries such as the UK or Italy and higher than in countries like Sweden or Denmark, or even Spain. However, Europe's wealthiest and second-largest regional economy, Ile-de-France (the region surrounding Paris), has long profited from the capital city's economic hegemony.
The most importantrégions are Île-de-France (Europe's 4th regional economy),Rhône-Alpes (Europe's 5th largest regional economy thanks to its services, high-technologies, chemical industries, wines, tourism),Provence-Alpes-Côte d'Azur (services, industry, tourism and wines),Nord-Pas-de-Calais (European transport hub, services, industries) andPays de la Loire (green technologies, tourism). Regions likeAlsace, which has a rich past in industry (machine tool) and currently stands as a high income service-specialised region, are very wealthy without ranking very high in absolute terms.
The rural areas are mainly inAuvergne, Limousin, andCentre-Val de Loire, and wine production accounts for a significant proportion of the economy inAquitaine (Bordeaux (or claret)),Burgundy, andchampagne produced inChampagne-Ardennes.
| Rank | Region | GDP (millions of euros, 2023)[138] | GDP per capita (euros, 2023)[138][139] |
|---|---|---|---|
| 1 | Île de France | 860,067 | 69,287 |
| 2 | Auvergne-Rhône-Alpes | 328,611 | 40,017 |
| 3 | Nouvelle-Aquitaine | 213,662 | 34,814 |
| 4 | Occitanie | 213,320 | 34,844 |
| 5 | Hauts-de-France | 196,683 | 32,789 |
| 6 | Provence-Alpes-Côte d'Azur | 196,217 | 37,849 |
| 7 | Grand Est | 189,105 | 33,912 |
| 8 | Pays de la Loire | 143,617 | 36,732 |
| 9 | Brittany | 119,169 | 34,645 |
| 10 | Normandy | 115,942 | 34,784 |
| 11 | Bourgogne-Franche-Comté | 91,409 | 32,652 |
| 12 | Centre-Val de Loire | 89,893 | 34,872 |
| Réunion | 23,165 | 26,249 | |
| Guadeloupe | 11,225 | 27,325 | |
| 13 | Corsica | 10,710 | 30,288 |
| Martinique | 10,138 | 28,630 | |
| French Guiana | 5,195 | 17,700 | |
| Mayotte | 3,326 | 11,485 |
In terms of income, important inequalities can be observed among the Frenchdépartements.
According to the 2008 statistics of the INSEE, theYvelines is the highest income department of the country with an average income of €4,750 per month.Hauts-de-Seine comes second,Essonne third, Paris fourth, Seine-et Marne fifth.Île-de-France is the wealthiest region in the country with an average income of €4,228 per month (and is also the wealthiest region in Europe) compared to €3,081 at the national level.Alsace comes second,Rhône-Alpes third,Picardy fourth, andUpper Normandy fifth.
The poorest parts of France are theFrench overseas departments, French Guiana being the poorest department with an average household income of €1,826. In Metropolitan France it isCreuse in theLimousin region which comes bottom of the list with an average household income of €1,849 per month.[140]
Huge inequalities can also be found among cities.In theParis metropolitan area, significant differences exist between the higher standard of living ofParis Ouest and lower standard of living in areas in the northernbanlieues of Paris such as Seine-Saint-Denis.
For cities of over 50,000 inhabitants,Neuilly-sur-Seine, a western suburb of Paris, is the wealthiest city in France with an average household income of €5,939, and 35% earning more than €8,000 per month.[141]But within Paris, fourarrondissements surpass wealthy Neuilly-sur-Seine in household income: the6th, the7th, the8th and the16th; the 8th arrondissement being the wealthiest district in France (the other three following it closely as 2nd, 3rd and 4th wealthiest ones).
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, and 9.8% in Germany.[142] In 2016, the poverty rate in France stood at 14%, compared to 12.8% in 2004.[143] The northern districts ofMarseille represent one of the poorest and unequal areas in France, where poor neighbourhoods rub shoulders with wealthier pockets. The share of people living below the poverty line (949 euro per month) was 28.8% in 2008 in sensitive urban zones (ZUS) compared to 12% in the rest of the territory.[144]
In comparison with the average French workers, foreign workers tended to be employed in the hardest and lowest-paid jobs. They also live in poor conditions. A 1972 study found that foreign workers earned 17% less than their French counterparts, although this national average concealed the extent of inequality. Foreign workers were more likely to be men in their prime working years in the industrial areas, which generally had higher rates of pay than elsewhere.[145]
In 2010, the French had an estimated wealth of US$14.0 trillion for a population of 63 million.[146]
France has the third-highest number of millionaires in Europe as of 2017. There were 1.617 million millionaire households (measured in US dollars) living in France in 2017, behind the UK (2.225 million) and Germany (1.637 million).[152]
The wealthiest man in France is theLVMH CEO and ownerBernard Arnault.
By 2022, the combined wealth of France's 500 richest people will be worth 1,170 billion euros, or 45% of GDP. In 2009, this figure was just 194 billion, representing 10% of GDP at the time.[154]
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