France: an overview

The Eiffel Tower. Credit: Getty Images

 

With at least 75 million tourists a year, France is the most visited country in the world. Its GDP was $2.15tn in 2010, making it the tenth-largest economy in the world.

The French economy is particularly reliant on the services sector, representing 79.7 per cent of its GDP. Agriculture and industry play more diminished roles, representing around 1.7 and 18.6 per cent respectively.

The government budget deficit rose from 3.4 per cent of GDP in 2008 to 6.9 per cent. The financial crisis has also influenced the country’s public debt, which rose from 68 per cent of GDP to 82 per cent over the same time period.

France’s main export partners are Germany, Italy, Belgium, Spain, the UK, the US and the Netherlands (2010). Short- and medium-term issues include the stability of the eurozone and the reducing high levels of public debt.