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.