france economic system

Due to its importance in operational forecasting and climate research, the Argo community continually assesses the status of the sensors mounted . )1.11% (2019 est.). French (official) 100%, declining regional dialects and languages (Provencal, Breton, Alsatian, Corsican, Catalan, Basque, Flemish, Occitan, Picard); note - overseas departments: French, Creole patois, Mahorian (a Swahili dialect)major-language sample(s): The World Factbook, une source indispensable d'informations de base. )tide and wave: 0.2% of total installed capacity (2020 est. France Economy: GDP, Inflation, CPI & Interest Rates - FocusEconomics Countries Central America Trinidad and Tobago Czech Republic Major Economies South-Eastern Europe Bosnia-Herz. Despite its reliance on nuclear energy and low dependence on Russian gas, France faced a sharp slowdown in economic activity and high inflation. )refined petroleum consumption: 1,688,500 bbl/day (2019 est. agriculture: 1.7% (2017 est. Political Outline ); approximately 100,000 National Gendarmerie; approximately 75,000 National Guard (2023), the French military's inventory consists mostly of domestically produced weapons systems, including some jointly produced with other European countries; there is a limited mix of armaments from other Western countries, particularly the US; France has a large and sophisticated defense industry capable of manufacturing the full spectrum of air, land, and naval military weapons systems (2023)note: two major future acquisition programs for the French military included the Franco-German-Spanish Future Combat Air System, or FCAS (known in France as the systme combat arien du futur, or SCAF) and a next-generation tank development project with Germany known as the Main Ground Combat System, or MGCS, 18-25 years of age for voluntary military service for men and women; no conscription (abolished 2001); 12-month service obligation (2022)note 1: in 2019, women comprised approximately 16% of the uniformed armed forces note 2: men between the ages of 17.5 and 39.5 years of age, of any nationality, may join the French Foreign Legion; those volunteers selected for service sign five-year contractsnote 3: in 2018, Parliament passed a law that would require military service for all genders beginning in 2024; President MACRON included the measure in his platform hoping that it would reinvigorate a sense of civic duty; the service would include two components: the first would take place around age 16 and include one month of training and civic service, while the second component would last between three months and a year and be more geared towards defense and security duties; France began a pilot for the program in 2019, approximately 300 Central African Republic; approximately 1,000 Chad; 300 Comoros; approximately 900 Cote d'Ivoire; approximately 1,400 Djibouti; 300 Estonia (NATO); approximately 2,000 French Guyana; approximately 900 French Polynesia; approximately 1,000 French West Indies; 350 Gabon; approximately 500 Middle East (Iraq/Jordan/Syria); 650 Lebanon (UNIFIL); approximately 1,400 New Caledonia; approximately 1,500 Niger; approximately 1,700 Reunion Island; approximately 800 Romania (NATO); approximately 350 Senegal; approximately 650 United Arab Emirates (2023)note: in response to Russias 2022 invasion of Ukraine, some NATO countries, including France, have sent additional troops to the battlegroups deployed in NATO territory in eastern Europe, France was one of the original 12 countries to sign the North Atlantic Treaty (also known as the Washington Treaty), which created NATO in 1949; in 1966, President Charles DE GAULLE decided to withdraw France from NATOs integrated military structure, reflecting his desire for greater military independence, particularly vis--vis the US, and the refusal to integrate Frances nuclear deterrent or accept any form of control over its armed forces; it did, however, sign agreements with NATO setting out procedures in the event of Soviet aggression; beginning with the fall of the Berlin Wall in 1989, France distanced itself from the 1966 decision and has regularly contributed troops to NATOs military operations, being one of the largest troop-contributing states; in 2009 it officially announced its decision to fully participate in NATO structuresin 2010, France and the UK signed a declaration on defense and security cooperation that included greater military interoperability and a Combined Joint Expeditionary Force (CJEF), a deployable, combined Anglo-French military force for use in a wide range of crisis scenarios, up to and including high intensity combat operations; the CJEF has no standing forces, but would be available at short notice for French-UK bilateral, NATO, EU, UN, or other operations; combined training exercises began in 2011; as of 2020, the CJEF was assessed as having full operating capacity with the ability to rapidly deploy over 10,000 personnel capable of high intensity operations, peacekeeping, disaster relief, and humanitarian assistance the French Foreign Legion, established in 1831, is a military force that is open to foreign recruits willing to serve in the French military for service in France and abroad; the Foreign Legion is an integrated part of the French Army and is comprised of approximately 8,000 personnel; its combat units are a mix of armored cavalry and airborne, light, mechanized, and motorized infantry regiments (2023), Terrorist group(s): Islamic Revolutionary Guard Corps/Qods Force; Islamic State of Iraq and ash-Sham (ISIS); al-Qa'idanote: details about the history, aims, leadership, organization, areas of operation, tactics, targets, weapons, size, and sources of support of the group(s) appear(s) in Appendix-T, Madagascar claims the French territories of Bassas da India, Europa Island, Glorioso Islands, and Juan de Nova Island; Comoros claims Mayotte; Mauritius claims Tromelin Island; territorial dispute between Suriname and the French overseas department of French Guiana; France asserts a territorial claim in Antarctica (Adelie Land); France and Vanuatu claim Matthew and Hunter Islands, east of New Caledonia, refugees (country of origin): 55,681 (Afghanistan), 39,091 (Syria), 33,834 (Sri Lanka), 33,148 (Russia), 31,935 (Democratic Republic of the Congo), 24,223 (Sudan), 21,225 (Guinea), 18,008 (Serbia and Kosovo), 17,032 (Turkey), 13,974 (Iraq), 12,286 (Cote d'Ivoire), 11,489 (Eritrea), 11,012 (Cambodia), 10,543 (China), 10,236 (Albania), 10,210 (Somalia), 8,858 (Bangladesh), 8,124 (Mauritania), 8,101 (Mali), 7,991 (Vietnam), 6,913 (Bosnia and Herzegovina), 6,910 (Haiti), 6,808 (Angola), 6,498 (Laos), 6,417 (Armenia), 6,111 (Nigeria), 5,896 (Georgia) (mid-year 2022); 118,994 (Ukraine) (as of 31 October 2022)stateless persons: 3,633 (2022). France became a member of the International Bank for Reconstruction and Development (IBRD) on Dec. 27, 1945. )other alcohols: 0.18 liters of pure alcohol (2019 est. Growth in 2023 will be driven by the large services sector, but will remain lacklustre as high inflation and interest rates dampen demand. France is ranked as the worlds seventh largest economic power, just behind the United Kingdom and India (WEF, 2022). Key Resources Access France Projection Data Access Economic Outlook Digital Report Economic Survey of France (November 2021) The French economy rebounded quickly following the coronavirus crisis, in particular thanks to the acceleration of the vaccination campaign and strong public support measures. )other: 18.1% (2018 est. Workers incomes are taxed at a high to moderate rate, and indirect taxation in the form of a value-added tax (VAT) is relatively high. France has a diversified economy,[31] 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%. [106] In late 2019, the French unemployment rate, though still high compared to other developed economies, was the lowest in a decade. Foreign workers were more likely to be men in their prime working years in the industrial areas, which generally had higher rates of pay than elsewhere. France is the world's most popular tourist destination with more than 83.7million foreign tourists in 2014,[78] ahead of Spain (58.5million in 2006) and the United States (51.1million in 2006). France has a diversified private sector that includes agricultural, industrial and service activities; however, the government intervenes actively in the French economy. 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. There are approximately 470 airports in France and by a 2005 estimate, there are three heliports. )expenditures: $1.509 trillion (2019 est. )$3.095 trillion (2019 est. US agricultural exports to France, totaling some $600million annually, consist primarily of soybeans and soybean products, feeds and fodders, seafood, and consumer products, especially snack foods and nuts. Any Comment About This Content? In 2018, France was the 5th largest trading nation in the world, as well as the second-largest trading nation in Europe (after Germany). After suffering one of the sharpest economic contractions among EU countries in 2020 (-8%) due to the COVID-19 pandemic, Frances economy recovered strongly in 2021 (+6.8%). )imports: 7.891 million metric tons (2020 est. ), municipal: 5.31 billion cubic meters (2020 est. While in the 1950s agriculture and industry were the dominant sectors, tertiary (largely service and administrative) activities have since become the principal employer and generator of national wealth. [124], In 2010, the French had an estimated wealth of US$14.0trillion for a population of 63 million. Although the French government has given up holdings in such companies as Air France and auto maker Renault, it continues to hold shares in other corporations across various sectors, including banks, energy, telecommunications, utilities and transportation. They include Baruch College, the University of London Institute in Paris, Parsons Paris School of Art and Design and the American University of Paris. French government is French arms industry's main customer, mainly buying warships, guns, nuclear weapons and equipment. Economic activity will strengthen from 2024 in . Comparing national economies 1. note: data are in current year dollars, Germany 14%, United States 8%, Italy 7%, Spain 7%, Belgium 7%, United Kingdom 7% (2019), aircraft, packaged medicines, cars and vehicle parts, wine, beauty products, gas turbines (2021), $957.717 billion (2021 est.) 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. The tax on wealth is paid by 1.1M of people in France, the payment of this tax starts when a 1.3M of assets is reached (there is a discount on the principal residence value). [105] This gap is due to the low employment rate for 1524 years old: 38% in 2012, compared to 47% in the OECD. "In 2014, the GDP of France exceeded 2 trillion (Table 1.2). It relies a lot on people, and there is very little division of labor or specialization. To compile this index, Reporters Without Borders (RWB) prepared a questionnaire incorporating the main criteria (44 in total) to assess the situation of press freedom in a given country. Under socialism, the government directs economic activity and owns all or part of most industries. )crude oil estimated reserves: 61.7 million barrels (2021 est. Contemporary growth has switched to regions that lie in the south and, to a lesser degree, the west of France. Transportation in France relies on one of the densest networks in the world with 146km of road and 6.2km of rail lines per 100km2. For cities of over 50,000 inhabitants, Neuilly-sur-Seine, a western suburb of Paris, is the wealthiest city in France with an average household income of 5,939, and 35% earning more than 8,000 per month. According to Krugman, the difference is due to the French making "different choices about retirement and leisure". The Argo observation network is made up of approximately 4,000 drifting floats, which provide valuable information about the ocean and its role in the climate system. Several French corporations rank amongst the largest in their industries such as AXA in insurance and Air France in air transportation. In terms of aggregate wealth, the French are the wealthiest Europeans, accounting for more than a quarter of wealthiest European households. note: data are in current year dollars$796.353 billion (2020 est.) The electricity produced by wind turbines increased from 0.596 TWh in 2004, to 0.963 TWh in 2005, and 2.15 TWh in 2006, but this still accounts only for 0.4% of the total production of electricity (as of 2006). PPP > Constant 2000 international $ : PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. [73], In 2006 electricity generated in France amounted to 548.8 TWh, of which:[74]. France stands as one of the world’s leading economic powers, possessing large agricultural, industrial and service sectors. )note: the above figure is for metropolitan France and five overseas regions; the metropolitan France population is 62,814,233, noun: Frenchman(men), Frenchwoman(women)adjective: French, Celtic and Latin with Teutonic, Slavic, North African (Algerian, Moroccan, Tunisian), Indochinese, Basque minoritiesnote: overseas departments: Black, White, Mulatto, East Indian, Chinese, Amerindian. To this end, France has been the major impetus in the formation of such bodies as the European Coal and Steel Community (in the early 1950s) and the European Economic Community. )wind: 7.3% of total installed capacity (2020 est. )from coal and metallurgical coke: 26.971 million metric tonnes of CO2 (2019 est. )note: data are in 2017 dollars, 1.64% (2021 est. The Economy Of France La Dfense in France is the largest business district in Europe. [69], Research and development spending is also high in France at 2.26% of GDP, the fourth-highest in the OECD. France is the leading tourist destination in the world with a record of 66.6 million foreign visitors in 2022 (GlobalData). In this page: (Together) coalition lost its parliamentary majority at the legislative election in June, policymaking has become more challenging, with bills likely to be passed by decree. The most important sectors of France's economy in 2020 were public administration, defence, education, human health and social work activities (23.4%), wholesale and retail trade, transport, accommodation and food services (16.4%) and Professional, scientific and technical activities; administrative and support service activities (14.2%). Social mobility remains low and the employment rates of many disadvantaged groups are poor. )biomass and waste: 2% of total installed capacity (2020 est. The French agricultural sector receives almost 11billion in EU subsidies. [61], In late 2012, credit-rating agencies warned that growing French government debt levels risked France's AAA credit rating, raising the possibility of a future credit downgrade and subsequent higher borrowing costs for the French government. The fall of the Bastille, a medieval fortress used as a state prison, on July 14, 1789, symbolizes for France, as well as for other nations, the end of the premodern era characterized by an organicist and religiously sanctioned traditionalism. Country Comparator Country Rankings Rank ordering and interactive map. )0.876 (2020 est. note: data are in current year dollars$916.214 billion (2019 est.) Location:Western Europe Capital City:Paris (+1 GMT) Chief of State:President Emmanuel Macron Head of Govt. Credit Suisse 2010's Global Wealth Report, p. 32. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality. )agricultural: 3.18 billion cubic meters (2020 est. The survey measures freedom according to two broad categories: political rights and civil liberties. Per capita figures expressed per 1 population. During the same postwar period, the structure of the economy was altered significantly.

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