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The economy of France is a highly developed, market-oriented economy. It is the world's seventh-largest economy by 2021 nominal figures and the ninth-largest economy by PPP, constituting 3.3% of world GDP. It is the 3nd largest economy of Europe, after the economy of Germany and the economy of the United Kingdom. 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%. France was in 2020 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. It was the fifth-largest trading nation in the world. France is also the most visited destination in the world, as well the European Union's leading agricultural power. Paris is a leading global city, and has one of the largest city GDP in the world. It ranks as the first city in Europe by the number of companies classified in Fortune's Fortune Global 500. Paris produced €738 billion or around 1/3 of the economy of France in 2018.