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. Minorities Day 4. Labor conditions and wages are highly regulated. [84] To explain why French per capita GDP is lower than that of the United States, the economist Paul Krugman stated that "French workers are roughly as productive as US workers", but that the French have allegedly a lower workforce participation rate and "when they work, they work fewer hours". France is also the most visited destination in the world, List of French regions and overseas collectivities by GDP, List of French inventions and discoveries, "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2020", "People at risk of poverty or social exclusion", "Gini coefficient of equivalised disposable income – EU-SILC survey", "Employment rate by sex, age group 20–64", "Unemployment by sex and age – monthly average", "The unemployment rate fell from 8.5 % to 8.1 % in Q4 2019", Institut national de la statistique et des études économiques, "Average wage in France: net, gross, by sex, by CSP", "Salary after Tax Calculator – France (FR)", "Euro area and EU27 government deficit both at 0.6% of GDP", "Development aid rises again in 2016 but flows to poorest countries dip", "Moody's downgrades France's government bond ratings to Aa2 from Aa1; outlook changed to stable from negative", "France's credit downgraded to AA at Fitch Ratings – MarketWatch", "Tourism industry sub-sectors: COUNTRY REPORT – FRANCE". [96] The so-called floating generation was attributed to an allegedly 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". Nuclear waste is stored on site at reprocessing facilities. 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 November 2004, EDF (which stands for Electricité de France), the world's largest utility company and France's largest electricity provider, was floated with huge success on the French stock market. As the world's second-largest agricultural exporter, France ranks just after the United States. France also boasts a number of seaports and harbours, including Bayonne, 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 and Toulon. 2010's Global Wealth Report. [58], France was in 2019 the world's 8th largest manufacturer in termes of value added, according to the World Bank. Between 2004 and 2008, the government attempted to combat unemployment with supply-side reforms, but was met with fierce resistance;[92] the contrat nouvelle embauche and the contrat première embauche (which allowed more flexible contracts) were of particular concern, and both were eventually repealed. The electricity produced by wind turbines increased from 0.596 TWh in 2004, to 0.963 TWh in 2005, and 2.15 TWh in 2006, but this still accounts only for 0.4% of the total production of electricity (as of 2006). Chaque seconde, le PIB du pays France augmente de $ +88 075,06 Chaque jour, le PIB du pays France augmente de $ +7 609 685 587,06 En 2018, le PIB du pays France était de $ 2 777 535 239 278. [28] France is also the most visited destination in the world,[29][30] as well the European Union's leading agricultural power. In April and May 2012, France held a presidential election in which the winner François Hollande had opposed austerity measures, promising to eliminate France's budget deficit by 2017. Spring 2020 ISSN 2443-8014 (online) European Economic Forecast INSTITUTIONAL PAPER 125 | MAY 2020 EUROPEAN ECONOMY. [47] Luxury and consumer good are particularly relevant, with L'Oreal being the world's largest cosmetic company while LVMH and Kering are the world's two largest luxury product companies. [citation needed], Since his election in 2017, Emmanuel Macron has introduced several labour market reforms which proved successful in decreasing the unemployment rate before the global COVID-19 recession struck. [55][56], In December 2014 France's credit rating was further downgraded by Fitch (and S&P) to the AA credit rating. In terms of income, important inequalities can be observed among the French départements. Exports from the United States face stiff competition from domestic production, other EU member states, and third-world countries in France. The economy of France is highly developed and free-market-oriented. In November 2020, turnover in large-scale food retailing fell sharply due to the second lockdown. Wheat, beef, pork, poultry, and dairy products are the principal exports. Although it has just 1.1% of the world’s adults, France ranks fourth among nations in aggregate household wealth – behind China and just ahead of Germany". Huge inequalities can also be found among cities. The chemical industry is a key sector for France, helping to develop other manufacturing activities and contributing to economic growth. France is the world's most popular tourist destination with more than 83.7 million foreign tourists in 2014,[2] ahead of Spain (58.5 million in 2006) and the United States (51.1 million in 2006). These are the world's most innovative countries, "Human Development Index 2018 Statistical Update", "Corruption Perceptions Index 2018 Executive summary p. 2", The attractiveness of world-class business districts: Paris La Défense vs. its global competitors, "5. [88] [41] The OECD is headquartered in Paris, the nation's financial capital. Sophia Antipolis is the major technology hub for the economy of France. Other major economic centres include Lyon, Toulouse (centre of the European aerospace industry), Marseille, Nice and Bordeaux. At the end of Q3 2020, the Maastricht debt accounted for €2,674.3 billion. Almost every French household has at least $1,000 in assets. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. Posted by S. Sarwar 7th September 2020 7th September 2020 Leave a comment on Daily Gist of ‘The Hindu’, ‘PIB’, ‘Indian Express’ and Other Newspapers: 7 September, 2020 Daily news will speed up the preparation for the Civil Services Examination and it also plays a crucial role to grasp the current affairs topic comprehensively. [81] 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.[82]. [100] 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. 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. According to figures from 2003, some popular tourist sites include (in visitors per year):[68] 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). 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. France is home to cities of much cultural interest (Paris being the foremost), beaches and seaside resorts, ski resorts, and rural regions that many enjoy for their beauty and tranquillity. Au premier trimestre 2020, le produit intérieur brut (PIB) en volume baisse fortement : –5,8 %, soit la baisse la plus forte sur l’historique de la série trimestrielle, depuis 1949. 22/12/2020. 1. Area Topics Page No. The government continues to own shares in corporations in several sectors, including energy production and distribution, automobiles, transportation, and telecommunications. The wealthiest man in France is the LVMH CEO and owner Bernard Arnault. [31], France was in 2020 the largest Foreign Direct Investment recipient in Europe,[32] Europe's second largest spender in Research and development,[33] ranked among the 10 most innovative countries in the world by the 2020 Bloomberg Innovation Index,[34] as well as the 15th most competitive nation globally, according to the 2019 Global Competitiveness Report (up 2 notches compared to 2018). Prénoms Votre prénom est populaire ? Arms sales becoming France’s new El Dorado, but at what cost? France's competitive advantage is mostly linked to the high quality and global renown of its produce, such as cheese and wine. [24] It is the world's seventh-largest economy by 2020 nominal figures and the tenth-largest economy by PPP. ENVIRONMENT Bhagirathi Eco-sensitive Zone 01 3. It was reported that in 2015, French arms sales internationally amounted to 17.4 billion U.S. dollars,[72] more than double the figure of 2014. [32] [105] Prix Carburant Trouvez le prix du carburant le moins cher près de chez vous avec Carburants.org ! 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, 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, 1960–2011", https://data.oecd.org/lprdty/gdp-per-hour-worked.htm#indicator-chart, 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 6 pm, 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 ménage – 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, Provisional Government of the French Republic, 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, https://en.wikipedia.org/w/index.php?title=Economy_of_France&oldid=996641005, World Trade Organization member economies, Articles with dead external links from December 2017, Articles with permanently dead external links, Articles with French-language sources (fr), Short description is different from Wikidata, Articles lacking reliable references from November 2019, All articles with vague or ambiguous time, Articles with unsourced statements from May 2018, Articles with unsourced statements from October 2020, Creative Commons Attribution-ShareAlike License, 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. But within Paris, four arrondissements surpass wealthy Neuilly-sur-Seine in household income: the 6th, the 7th, the 8th and the 16th; the 8th "arrondissement" being the wealthiest district in France (the other three following it closely as 2nd, 3rd and 4th wealthiest ones). France is the ninth-largest trading partner of the US. GDP Growth Rate in France averaged 0.76 percent from 1949 until 2020, reaching an all time high of 18.70 percent in the third quarter of 2020 and a record low of … 1. 22/12/2020. It is the third largest manufacturing country in Europe behind Germany and Italy. MoU between India and Nigeria … Posted by S. Sarwar 27th November 2020 Leave a comment on Daily Gist of ‘The Hindu’, ‘PIB’, ‘Indian Express’ and Other Newspapers: 27 November, 2020 Daily Important News will speed up the preparation for the Civil Services Examination and it also plays a crucial role to grasp the current affairs topic comprehensively. COVIRAP 7. France is the world-leading country in nuclear energy, home of global energy giants Areva, EDF and GDF 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. [93] The Sarkozy government used the revenu de solidarité active (in-work benefits) to redress the allegedly negative effect of the revenu 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. The principal French exports to the US are aircraft and engines, beverages, electrical equipment, chemicals, cosmetics, luxury products and perfume.