Economy of France

In 2008, France is the 5th world economic power, behind the United States, Japan, China, Germany and in front of UK. In 2009, the value of its Gross domestic product (GDP) is 1 950,1 billions Euros. France is classified in the 38th rank for the GDP per capita at the exchange rate nominal, slightly below the average of the EU, which is 37th.

In classification by GDP in PPA, France is the 9th economic power. France is a part of founding countries of the European Union and of the Euro zone. In the heart of an economically very developed zone, its economy benefited from the implementation of the European common market. The intervention of the State in the economy is traditionally important. The level of public spending and thus taxation is among the highest in the world. From 1986, the State privatized a large number of public companies but its influence on the economy remains strong.

The economy of France is a mixed economy which is the sixth largest in the world in nominal terms, behind the United States, Japan, China, Germany and the United Kingdom and the 8th largest by purchasing power parity.

It is the fourth largest economy in Europe behind Germany, the United Kingdom and Russia in GDP terms.

On May 15, 2009, the INSEE announced that France has officially entered a recession after its GDP decreased by 1.2% of Q1 in 2009.

The French economy is mainly an economy of services: the tertiary sector occupies 77,6 % of the working population, whereas the primary sector agriculture, fishing represents no more than 2 %, and the secondary sector (essentially the industry) 20,4 %.

The French economy is a more and more an open economy, occupying an important place in the international trades. France is the 5th country for its exports and the 6th for its imports. In 2009, the exports represent 26 % of the GDP and the imports 27%. The balance of trade (goods and services) became overdrawn in 2004, and this deficit increased in 2005