France Economy 1995
SOURCE: 1995 CIA WORLD FACTBOOK
Overview: One of the world's most developed economies, France has substantial agricultural resources and a highly diversified modern industrial sector. Large tracts of fertile land, the application of modern technology, and subsidies have combined to make it the leading agricultural producer in Western Europe. Largely self-sufficient in agricultural products, France is a major exporter of wheat and dairy products. The industrial sector generates about one-quarter of GDP, and the growing services sector has become crucial to the economy. Although French GDP contracted by 0.7% in 1993, the economy showed signs of life by yearend. GDP growth, however, will remain sluggish in 1994 - perhaps reaching only 1.0%. Rapidly increasing unemployment will still pose a major problem for the government. Paris remains committed to maintaining the franc-deutsche mark parity, which has kept French interest rates high despite France's low inflation. Although the pace of economic integration within the European Community has slowed down, integration presumably will remain a major force shaping the fortunes of the various economic sectors.
National product: GDP - purchasing power equivalent - $1.05 trillion (1993)
National product real growth rate: -0.7% (1993)
National product per capita: $18,200 (1993)
Inflation rate (consumer prices): 2.1% (1993)
Unemployment rate: 12.2% (May 1994)
$270.5 billion (f.o.b., 1993)
$250.2 billion (c.i.f., 1993)
External debt: $300 billion (1993 est.)
Industrial production: growth rate -4.3% (1993)
Industries: steel, machinery, chemicals, automobiles, metallurgy, aircraft, electronics, mining, textiles, food processing, tourism
Agriculture: accounts for 4% of GDP (including fishing and forestry); one of the world's top five wheat producers; other principal products - beef, dairy products, cereals, sugar beets, potatoes, wine grapes; self-sufficient for most temperate-zone foods; shortages include fats and oils and tropical produce, but overall net exporter of farm products; fish catch of 850,000 metric tons ranks among world's top 20 countries and is all used domestically
1 French franc (F) = 100 centimes
NOTE: The information regarding France on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of France Economy 1995 information contained here. All suggestions for corrections of any errors about France Economy 1995 should be addressed to the CIA.