*France, Economy
Overview:
One of the world's most developed economies, France has substantial
agricultural resources and a highly diversified modern industrial sector.
Large tracts of fertile land, the application of modern technology, and
subsidies have combined to make it the leading agricultural producer in
Western Europe. France is largely self-sufficient in agricultural products
and is a major exporter of wheat and dairy products. The industrial sector
generates about one-quarter of GDP, and the growing services sector has
become crucial to the economy. The French economy is entering its fourth
consecutive year of sluggish growth after a strong expansion in the late
1980s. Growth averaged only 1.3% in 1990-92 and is expected to drop to
between zero and -0.5% in 1993. The government budget deficit rose to 3.2%
of GDP in 1992 and is expected to be far larger than planned in the 1993
budget. Paris remains committed to maintaining the franc-deutsch mark
parity, which has kept French interest rates high despite France's low
inflation. Although the pace of economic integration within the European
Community has slowed down, integration presumably will remain a major force
shaping the fortunes of the various economic sectors.
National product:
GDP - purchasing power equivalent - $1.08 trillion (1992)
National product real growth rate:
1.1% (1992)
National product per capita:
$18,900 (1992)
Inflation rate (consumer prices):
2.1% (1992 est.)
Unemployment rate:
10.5% (end 1992)
Budget:
revenues $220.5 billion; expenditures $249.1 billion, including capital
expenditures of $47 billion (1993 budget)
Exports:
$212.7 billion (f.o.b., 1991)
commodities:
machinery and transportation equipment, chemicals, foodstuffs, agricultural
products, iron and steel products, textiles and clothing
partners:
Germany 18.6%, Italy 11.0%, Spain 11.0%, Belgium-Luxembourg 9.1%, UK 8.8%,
Netherlands 7.9%, US 6.4%, Japan 2.0%, former USSR 0.7% (1991 est.)
Imports:
$230.3 billion (c.i.f., 1991)
commodities:
crude oil, machinery and equipment, agricultural products, chemicals, iron
and steel products
partners:
Germany 17.8%, Italy 10.9%, US 9.5%, Netherlands 8.9%, Spain 8.8%,
Belgium-Luxembourg 8.5%, UK 7.5%, Japan 4.1%, former USSR 1.3% (1991 est.)
External debt:
$270 billion (December 1992)
Industrial production:
growth rate 0.2% (1992 est.)
Electricity:
110,000,000 kW capacity; 426,000 million kWh produced, 7,430 kWh per capita
(1992)
Industries:
steel, machinery, chemicals, automobiles, metallurgy, aircraft, electronics,
mining, textiles, food processing, tourism
*France, Economy
Agriculture:
accounts for 4% of GDP (including fishing and forestry); one of the world's
top five wheat producers; other principal products - beef, dairy products,
cereals, sugar beets, potatoes, wine grapes; self-sufficient for most
temperate-zone foods; shortages include fats and oils and tropical produce,
but overall net exporter of farm products; fish catch of 850,000 metric tons
ranks among world's top 20 countries and is all used domestically
Economic aid:
donor - ODA and OOF commitments (1970-89), $75.1 billion
Currency:
1 French franc (F) = 100 centimes
Exchange rates:
French francs (F) per US$1 - 5.4812 (January 1993), 5.2938 (1992), 5.6421
(1991), 5.4453 (1990), 6.3801 (1989), 5.9569 (1988)
Fiscal year:
calendar year
*France, Communications
Railroads:
French National Railways (SNCF) operates 34,322 km 1.435-meter standard
gauge; 12,434 km electrified, 15,132 km double or multiple track; 99 km of
various gauges (1.000-meter), privately owned and operated
Highways:
1,551,400 km total; 33,400 km national highway; 347,000 km departmental
highway; 421,000 km community roads; 750,000 km rural roads; 5,401 km of
controlled-access divided autoroutes; about 803,000 km paved
Inland waterways:
14,932 km; 6,969 km heavily traveled
Pipelines:
crude oil 3,059 km; petroleum products 4,487 km; natural gas 24,746 km
Ports:
coastal - Bordeaux, Boulogne, Brest, Cherbourg, Dunkerque, Fos-Sur-Mer, Le
Havre, Marseille, Nantes, Sete, Toulon; inland - Rouen
Merchant marine:
130 ships (1,000 GRT or over) totaling 3,224,945 GRT/5,067,252 DWT; includes
7 short-sea passenger, 10 cargo, 20 container, 1 multifunction large-load
carrier, 27 roll-on/roll-off, 36 oil tanker, 11 chemical tanker, 6 liquefied
gas, 2 specialized tanker, 10 bulk; note - France also maintains a captive
register for French-owned ships in the Kerguelen Islands (French Southern
and Antarctic Lands) and French Polynesia
Airports:
total:
471
usable:
461
with permanent-surface runways:
256
with runways over 3,659 m:
3
with runways 2,440-3,659 m:
37
with runways 1,220-2,439 m:
136
Telecommunications:
highly developed; extensive cable and microwave radio relay networks;
large-scale introduction of optical-fiber systems; satellite systems for
domestic traffic; 39,200,000 telephones; broadcast stations - 41 AM, 800
(mostly repeaters) FM, 846 (mostly repeaters) TV; 24 submarine coaxial
cables; 2 INTELSAT earth stations (with total of 5 antennas - 2 for the
Indian Ocean INTELSAT and 3 for the Atlantic Ocean INTELSAT); HF radio
communications with more than 20 countries; INMARSAT service; EUTELSAT TV
service
*France, Defense Forces
Branches:
Army, Navy (including Naval Air), Air Force, National Gendarmerie
Manpower availability:
males age 15-49 14,662,761; fit for military service 12,247,950; reach
military age (18) annually 386,504 (1993 est.)
Defense expenditures:
exchange rate conversion - $36.6 billion, 3.1% of GDP (1993 est.)
*French Guiana, Header
Affiliation: (overseas department of France)