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Business images of France

Economy of France

The economy of France is a highly developed social market economy with notable state participation in strategic sectors. It is the world's seventh-largest economy by nominal GDP and the ninth-largest economy by PPP, constituting around 4% of world GDP. France has a diversified economy, that is dominated by the service sector (which in 2017 represented 78.8% of its GDP), whilst the industrial sector accounted for 19.5% of its GDP and the primary sector accounted for the remaining 1.7%. In 2020, France was the largest Foreign Direct Investment recipient in Europe, and Europe's second largest spender in research and development. It was ranked among the 10 most innovative countries in the world by the 2020 Bloomberg Innovation Index, as well as the 15th most competitive nation globally according to the 2019 Global Competitiveness Report (up 2 notches compared to 2018). It was the fifth-largest trading nation in the world (and second in Europe after Germany). France is also the most visited destination in the world, as well as the European Union's leading agricultural power. According to the International Monetary Fund (IMF), in 2023, France was the world's 23rd country by GDP per capita with $44,408 per inhabitant. In 2021, France was listed on the United Nations's Human Development Index with a value of 0.903 (indicating very high human development) and 22nd on the Corruption Perceptions Index in 2021.

Top Sectors in France

Industry in France

France was in 2019 the world's 8th largest manufacturer in terms of value added, according to the World Bank. 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. The chemical industry is a key sector for France, helping to develop other manufacturing activities and contributing to economic growth. Research and development spending is also high in France at 2.26% of GDP, the fourth-highest in the OECD. 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), and gas turbines ($14.4 billion)."

Energy in France

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. Nuclear waste is stored on site at reprocessing facilities. Due to its heavy investment in nuclear power, France is the smallest emitter of carbon dioxide among the seven most industrialized countries in the world.

Agriculture in France

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. Northern France is characterized 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 the Common Agricultural Policy (CAP) and the Uruguay Round of the General 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. The destination of 49% of its exports is other EU 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.

Tourism in France

France is the world's most popular tourist destination with more than 83.7 million foreign tourists in 2014, 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.

Arms industry in France

French government is French arms industry's main customer, mainly buying warships, guns, nuclear weapons and equipment. During the 2000-2015 period, France was the fourth largest weapons exporter in the world. 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, more than double the figure of 2014.

Education in France

Education in France is organized in a highly centralized manner, with many subdivisions. 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 recognized by the Bologna Process (EU recognition): Licence and Licence Professionnelle (bachelor's degrees), and the comparably named Master and Doctorat degrees. The Programme for International Student Assessment coordinated by the OECD 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. The OECD 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. This was higher than all OECD countries.

Transport in France

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 center. The highly subsidized rail transport network makes up a relatively small portion of travel, most of which is done by car. With 3,220 kilometers of high-speed train lines, France boasts the 2nd most expansive network in the world, only after China. Charles de Gaulle Airport is one of the busiest airports in the world by passenger traffic. 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. 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 is Air France, a full-service global airline which flies to 20 domestic destinations and 150 international destinations in 83 countries (including Overseas France) across all 6 major continents.


France - Key Economic Indicators

Exports and Imports

France is a major exporter of goods and services. Top exports include machinery, aerospace equipment, vehicles, pharmaceuticals, and luxury goods. In 2023 (estimated), exports reached around $620 billion, while imports were valued at approximately $635 billion. This indicates a slight trade deficit.

Balance of Trade

France strives to narrow its trade deficit by promoting exports and encouraging domestic production. Government initiatives focus on innovation and competitiveness in key sectors.

Infrastructure Development

France has a well-developed infrastructure network. The national road network stretches over 880,000 kilometers (547,000 miles) (2024 estimate), with ongoing investments in upgrades and maintenance. France is also investing in high-speed rail, bridges, and renewable energy infrastructure.

Fiscal Policy

France adheres to a social welfare model, with the government playing a significant role in providing social programs and public services. This necessitates a high level of government spending, funded through taxation. Balancing this spending with fiscal responsibility is an ongoing challenge, particularly with an aging population.

Monetary Policy

France is a member of the Eurozone. The European Central Bank (ECB) sets monetary policy for the entire zone, influencing interest rates and money supply. France's central bank (Banque de France) implements these policies within the national framework. Recent actions by the ECB include raising interest rates in 2024 to combat inflation across the Eurozone.

Trade Agreements

France actively participates in trade agreements that benefit its economy. This includes the European Union Single Market, granting access to a vast European market. Additionally, France has free trade agreements with numerous countries, further diversifying its trade partnerships.

Environmental Regulations

France has established environmental regulations to address pollution, promote sustainability, and combat climate change. These regulations cover areas like air and water quality, waste management, and renewable energy development. However, challenges remain in balancing environmental protection with industrial activity and transitioning to a more sustainable economy.

Tax System in France

Capital gains tax: Capital gains in France are taxed at a progressive rate, ranging from 0% to 34% depending on the holding period and type of asset. Lower rates apply to long-term investments in stocks and bonds.
Corporate tax rate: The standard corporate tax rate in France is 25%, with a lower rate of 15% for small and medium-sized enterprises (SMEs) meeting certain criteria. This rate is intended to encourage business investment and growth.
Sales tax: France has a Value Added Tax (VAT) applied to most goods and services. The standard VAT rate is 20%, with a reduced rate of 5.5% for certain essential goods and services.
Property tax: Property tax rates in France vary depending on the type of property, location, and value. Typical rates range from 0.2% to 1.2% of the property's value per year. Additional property taxes may apply for secondary residences or high-value properties.
Payroll tax: France has a social security system funded by both employers and employees. The total contribution rate is around 65% of an employee's salary (employer: roughly 33%, employee: roughly 32%) (2024 estimate). This high rate provides benefits like pensions, unemployment insurance, and healthcare.
Tax deductions and credits: France offers various tax deductions and credits to reduce tax liability for individuals and businesses. These can include deductions for: (i) Mortgage interest payments (with limitations) (ii) Donations to charities (iii) Childcare expenses (iv) Research and development expenses (for businesses).
Tax compliance: Tax compliance in France is generally good, with the government implementing measures to improve efficiency in tax collection.
Tax burden: The overall tax burden in France is considered high compared to some developed economies. However, French citizens receive a wide range of social benefits in return for their tax contributions. The government strives to maintain a balance between a fair tax system, sufficient revenue for social programs, and economic competitiveness.

28551 Live Notices for France ....

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Consulting And Expert Services To Support Innovative Business Projects In The Maturation Phase (Incubator) And Young Businesses In The Start-Up Phase (Incubator)
country France
posting date17 Dec 2024
deadline15 Jan 2025
Construction Of A Quarry And An Equestrian Paddock In The Parc Des Iles
country France
posting date17 Dec 2024
deadline16 Jan 2025
Development Of A Soft Mode In Vourles
country France
posting date17 Dec 2024
deadline30 Jan 2025
Redevelopment Of The Town Centre Of Saint Pierre De Varengeville
country France
posting date17 Dec 2024
deadline27 Jan 2025
Aep Works 2025 - Renewal Of Drinking Water Feeder Dn500 In St Georges Des Gardes And Related Operations
country France
posting date17 Dec 2024
deadline03 Feb 2025
Project Management Mission For The Construction Of An Indoor Sports Facility
country France
posting date17 Dec 2024
deadline24 Jan 2025
Acquisition And Takeover Of A Laser Cutter For The University Of Corsica.
country France
posting date17 Dec 2024
deadline17 Jan 2025
Intellectual Services Mission To Assist Project Management Relating To Water Infrastructure Projects
country France
posting date17 Dec 2024
deadline28 Jan 2025
Stormwater Management Master Plan
country France
posting date17 Dec 2024
deadline03 Feb 2025
Bridging Cracks On Departmental Roads
country France
posting date17 Dec 2024
deadline24 Jan 2025
Asbestos Removal And Deconstruction Work On A Group Of Buildings Located At 3, Rue De Dinan In Plumaudan (22350)
country France
posting date17 Dec 2024
deadline24 Jan 2025
Business Development Coaching Services For Start-Ups In The Télécom Sudparis Incubator Located At 9, Rue Charles Fourier Evry-Courcouronnes (91)
country France
posting date17 Dec 2024
deadline27 Jan 2025
Maintenance Of Green Spaces
country France
posting date17 Dec 2024
deadline31 Jan 2025
Infrastructure Works Vrd And Landscaping Of Roads And Public Spaces - Heart Of Neighborhood Sector - Zac De La Pompignane Montpellier Relance Lot 3: S Networks
country France
posting date17 Dec 2024
deadline22 Jan 2025
Public Works Contract Relating To The Repair Of The Reinforced Concrete Structures Of The Stands Of The Robert Desnos Stadium Located In The Commune Of Verrières-Le-Buisson
country France
posting date17 Dec 2024
deadline17 Jan 2025
Supply Of Breads And Pastries For The City Of Tarbes
country France
posting date17 Dec 2024
deadline13 Jan 2025
Purchase Of Printing Papers And Envelopes
country France
posting date17 Dec 2024
deadline22 Jan 2025
Continuation Of A Land Control Campaign
country France
posting date17 Dec 2024
deadline13 Jan 2025
Project Management Of The Renovation Work On The Géraudot Church.
country France
posting date17 Dec 2024
deadline28 Feb 2025
Lot 1: General Installation Of The Show: Lot 2: Technical Management Lot 3: Event Management Platform Lot 4: Reception Service (10 Hostesses):
country France
posting date17 Dec 2024
deadline20 Jan 2025

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