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What is France economy?

Updated: 2/5/2022
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7y ago

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The French economy is mainly a service economy: The tertiary sector occupies 77.6% of the workforce, while the primary sector (agriculture, fisheries, ...) still represents less than 2%, and the secondary sector ( mainly industry) 20.4%. The French economy is an economy more and more open, occupying an important position in international trade. The France is the 5th country's exports and the 6th for its imports. In 2006, exports represent 26% of GDP and imports 27%. The trade balance (goods and services) has turned negative in 2004, and this deficit increased in 2005 and 200,611.

The unemployment rate remains higher than the average of other developed countries to 9.5% 12. The employment rate (63.8% in 2006), near the European average (64.8%) is lower than the EU-15 (66.2%), and the country average, especially for seniors, children under 30 years, and the low qualified people.

France is among the founding countries of the European Union and the euro area. At the heart of an economically-developed area, its economy has benefited from the establishment of common European market, being the biggest debtor of all member states.The state intervention in the economy has historically been significant. The level of public spending and therefore tax is among the highest in the world. From 1986, the government has privatized public companies but its influence on the economy remains strong (known as "Neo-Colbertism").

The growth in French GDP per capita was lower than some other developed countries, particularly the United States over the last two decades, provoking debate about the reality of this gap and economical reforms, which could remedy.

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Drake Rodriguez

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2y ago
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6y ago

The French economy is mainly a service economy: The tertiary sector occupies 77.6% of the workforce, while the primary sector (agriculture, fisheries, ...) still represents less than 2%, and the secondary sector ( mainly industry) 20.4%. The French economy is an economy more and more open, occupying an important position in international trade. The France is the 5th country's exports and the 6th for its imports. In 2006, exports represent 26% of GDP and imports 27%. The trade balance (goods and services) has turned negative in 2004, and this deficit increased in 2005 and 200,611.

The unemployment rate remains higher than the average of other developed countries to 9.5% 12. The employment rate (63.8% in 2006), near the European average (64.8%) is lower than the EU-15 (66.2%), and the country average, especially for seniors, children under 30 years, and the low qualified people.

France is among the founding countries of the European Union and the euro area. At the heart of an economically-developed area, its economy has benefited from the establishment of common European market, being the biggest debtor of all member states.The state intervention in the economy has historically been significant. The level of public spending and therefore tax is among the highest in the world. From 1986, the government has privatized public companies but its influence on the economy remains strong (known as "Neo-Colbertism").

The growth in French GDP per capita was lower than some other developed countries, particularly the United States over the last two decades, provoking debate about the reality of this gap and economical reforms, which could remedy.

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