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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.

30465 Live Notices for France ....

Showing 1 to 20

Supply Of Bitumen Emulsion For The Needs Of The Department Of Sarthe.
country France
posting date04 Jul 2024
deadline31 Jul 2024
Repair And Renovation Work On Traffic Control Equipment.
country France
posting date04 Jul 2024
deadline11 Sep 2024
Supply Of A Programmable Refrigeration Installation For Construction Products.
country France
posting date04 Jul 2024
deadline31 Jul 2024
Innovative Solutions For Ergonomic Assistance In The Operating Room.
country France
posting date04 Jul 2024
deadline31 Jul 2024
Renovation Work On The Floor Of The Bretenoux Gymnasium.
country France
posting date04 Jul 2024
deadline22 Jul 2024
Supply Of Metallurgical Products - Years 2024 To 2027
country France
posting date04 Jul 2024
deadline23 Jul 2024
Project Management Mission For The Design Studies And Management Of The Development Works Of Public Spaces Of The Requalification Operation Of The Goussainville Station District
country France
posting date04 Jul 2024
deadline29 Jul 2024
Ticketing And Access Control Solution For The Alp'Arena
country France
posting date04 Jul 2024
deadline29 Jul 2024
Supply Of A Ticketing, Cash Management And Access Control System For The Cité Du Cuir
country France
posting date04 Jul 2024
deadline29 Aug 2024
Supply, Delivery And Installation Of Household Appliances
country France
posting date04 Jul 2024
deadline31 Jul 2024
Service And Maintenance Contract For 3 Igh Generators
country France
posting date04 Jul 2024
deadline24 Jul 2024
Supply Of Communication Supports For The Vendée Sdis.
country France
posting date04 Jul 2024
deadline31 Jul 2024
Study Mission For The Redevelopment Of The Paths Of The Parc Du Terral In Order To Make It Accessible To People With Reduced Mobility
country France
posting date04 Jul 2024
deadline02 Aug 2024
Public Transport For After-School And Extracurricular Outings
country France
posting date04 Jul 2024
deadline09 Aug 2024
Restoration Of A Hydraulic Annex Mi_079
country France
posting date04 Jul 2024
deadline08 Aug 2024
Supply And Delivery Of Electrical Equipment For The Sèvres Site Of The Cité De La Ceramique - Sèvres And Limoges.
country France
posting date04 Jul 2024
deadline31 Jul 2024
Framework Agreement - Maintenance And Installation Services For Public Lighting.
country France
posting date04 Jul 2024
deadline02 Aug 2024
Fire Safety And Personal Assistance Services.
country France
posting date04 Jul 2024
deadline28 Aug 2024
Consultation 10-2024 “Supply Of Meats And Charcuterie” 4 Lots
country France
posting date04 Jul 2024
deadline25 Jul 2024
Maintenance And Creation Of Horizontal Signage
country France
posting date04 Jul 2024
deadline02 Aug 2024

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