France, with a population of 67,971,311, is ranked 20th globally, just behind Thailand. Located in Western Europe, France covers 549,086.87 square kilometers, ranking 48th worldwide, slightly smaller than Kenya.
France is a major player in the global economy, with a GDP of $2,779,092,236,505.85 in 2022, ranking 7th in the world. It is closely behind the United Kingdom, which has a GDP of $3,089,072,722,400.14. In terms of GDP per capita, France ranks 29th with $40,886.25 in 2022, trailing behind Kuwait, which has a GDP per capita of $41,079.52.
France’s diverse economy, including industries such as aerospace, automotive, and luxury goods, contributes significantly to its strong economic position on the world stage.
What are the economic activities of France?
- Primary activities: 1.7% of GDP.
- Secondary activities: 19.5% of GDP.
- Tertiary activities: 78.8% of GDP.
Primary Sector of France
France’s primary sector, particularly its agricultural activities, thrives due to its diverse climate and abundant natural resources. With 52.15% of the land dedicated to agriculture, the country produces a variety of crops and animal products. The main agricultural products include wheat, sugar beets, milk, barley, maize, potatoes, grapes, rapeseed, pork, and sunflower seeds.
Despite contributing only 1.7% to the GDP, agriculture plays a vital role in the economy by providing a wide range of products and sustaining rural communities.
France’s diverse geology provides a rich array of natural resources. Coal, iron ore, bauxite, zinc, and uranium support its industrial sector. Additionally, antimony, arsenic, and potash contribute to various industries. The country’s economy benefits from feldspar, fluorspar, gypsum, timber, arable land, and fish resources. Gold deposits, petroleum, kaolin, niobium, tantalum, and clay further enhance its economic growth.
France’s oil production of around 13,033 barrels per day ranks it 54th globally. With oil reserves of 78,431,000 barrels, it holds 0% of the world’s reserves.
France’s gas production in 2020 reached 28 million m³, ranking 90th globally, contributing to its economic activity.
Secondary Sector of France
What is the secondary sector or what are secondary activities?
The secondary sector comprises industries that transform raw materials from primary activities into finished products for consumption. In France, main industrial products include machinery, chemicals, automobiles, metallurgy, aircraft, electronics, textiles, and food processing. These products are essential for both domestic consumption and export markets, contributing significantly to the country’s economy and industrial development.
Manufactures play a crucial role in France’s total exports, accounting for 76.03% in 2023. This highlights the significant contribution of the manufacturing sector to the country’s economy and global trade presence.
Tertiary sector of France
What is the tertiary sector or what are tertiary activities?
The tertiary sector in France encompasses various services where individuals provide expertise and time to enhance productivity and meet demands. Key activities include restaurants, healthcare, education, banking, communication, media, tourism, transportation, and telecommunications. These sectors play a crucial role in the French economy by offering intangible goods and services to both consumers and businesses.
Specifically, France’s tourism industry is a economic powerhouse, contributing significantly to its GDP. With an impressive 217,877,000 annual arrivals, equating to 3.2054 tourist arrivals per capita, the country boasts iconic destinations like Paris, with its Eiffel Tower and Louvre Museum, and the French Riviera, renowned for its glamorous resorts and picturesque coastline.
Another example of tertiary economic activity is the mobile cellular sector, with approximately 77 million subscriptions, supporting technological growth by enhancing connectivity and fostering innovation across various industries.
Military Activities and Economic Sectors of France
The military is a clear example of how different economic activities work together. In the primary sector, resources are extracted for military use. The secondary sector involves the manufacturing of military equipment. The tertiary sector includes services provided by the military, while the quaternary sector focuses on military research and development. Lastly, the quinary sector deals with high-level military decision-making and strategy.
In France, the most recent annual military expenditure is $61.3 billion. This spending is about 1.94% of the country’s GDP. France has an active military force of 208,750 personnel. This means there are about 5.6 active military members for every 1,000 people in the country.
Biggest company in France
Which is the biggest company in France? It’s LVMH Moët Hennessy Louis Vuitton, a leader in the retail industry, known for luxury goods. Founded in 1987, LVMH has a market value of approximately 346.8 billion USD, making it a key player in the tertiary economic sector.
International Trade of France
Import Activities of France
France’s import activities are of high importance, with total imports in 2023 amounting to 777.13 billion USD, representing 38.56% of its GDP.
France’s import activities are diversified, with key partners like Germany, Belgium, Spain, Italy, and the Netherlands. Imports include natural gas, cars, petroleum products, and garments.
Exports Activities of France
In 2023, France’s total exports amounted to 640.20 billion USD, accounting for 34.69% of its GDP. This indicates a medium level of importance, highlighting the country’s significant reliance on export activities for economic growth and stability.
France’s export activities are diverse, with key partners including Germany, Italy, the US, Belgium, and Spain. Major export commodities include aircraft, packaged medicine, cars, natural gas, and vehicle parts/accessories.
France economy challenges in 2024
In 2024, France faces economic challenges due to high public debt and ongoing pension reforms. Transitioning to a green economy under the “France 2030” strategy is a priority, alongside maintaining strong sectors like tourism and aircraft manufacturing.
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