France


France Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in France; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankBank of France
France is part of the Eurosystem and the European Central Bank
International ReservesUS$ 179.506 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 2.751 trillion (2010 estimate)
GDP (Purchasing Power Parity)2.205 trillion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
4.1%1.8%1.1%1.1%2.3%2%2.4%2.3%
2008200920102011*
0.1%-2.5%1.5%1.6%

*Estimate

GDP per capita - current pricesUS$ 43,491 (2009 estimate)
GDP per capita - PPP$34,858 International Dollars (2009 estimate)
GDP (PPP) - share of world total
19801990200020102015**
4.72%4.4%3.65%2.9%2.56%

**Forecast

GDP - composition by sector
  • agriculture: 1.8% 
  • industry: 19.3% 
  • services: 78.9% (2009 estimate)
  • (Data released on November 2010)

Gross domestic expenditure on R&D (% of GDP)2.02% (2008)

(Data released on November 2010)

Inflation
2008200920102011*
3.2%(2008)0.1%1.7%2.1%

*Estimate

Unemployment rate
2008200920102011*
7.8%9.5%9.7%(2009)9.5%

*Estimate

Household saving rates15.5% (Gross saving; 2011 forecast)

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
63.8%67.5%78.1%84.3%87.6%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-2.7%-3.3%-7.6%-8%-6%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: AAA/Stable/A-1+

Moody's rating: Aaa

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$2.771 trillionUS$1.492 trillionUS$1.972 trillion
Largest companies in FranceBNP Paribas (Major Banks), Total (Oil & Gas Operations), GDF Suez (Electric Utilities), Société Générale (Major Banks), AXA Group (Diversified Insurance), France Telecom (Telecommunications services), Sanofi-aventis (Pharmaceuticals), Crédit Agricole (Major Banks), EDF Group (Electric Utilities)
(2011)
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -76.5 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP-2.8% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

26.5% (2008)

(Data released on December 2010)

Shares in world total merchandising export3.42%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export3.86%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$508.7 billion f.o.b. (2010 estimate)
Export commoditiesmachinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages
Total importsUS$833 billion f.o.b. (2008 estimate)
Import commoditiesmachinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals
Exports - major partnersGermany 14.9%, Spain 9.3%, Italy 8.9%, UK 8.1%, Belgium 7.3%, US 6.1%, Netherlands 4.1% (2007)
Imports - major partnersGermany 18.9%, Belgium 11.4%, Italy 8.4%, Spain 7.1%, Netherlands 7%, UK 5.6%, US 4.4%, China 4% (2007)
FDI inflows
200820092010
US$64,184 millionUS$34,027 million(2009)US$33,905 million(2009)
FDI outflows
200820092010
US$155,047 millionUS$102,949 millionUS$84,112 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$56,806 millionUS$41,565 million(2009)US$7,157 million(2009)US$-7,468 million
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Lafarge SA, OCI Cement Group, Egypt, $15.0 billion
Pernod Ricard SA, Vin & Sprit AB, Sweden, $8.9 billion
Banque Federative du Credit Mutuel, Citibank Privatkunden AG & Co KGaA, Germany, $6.6 billion
Investor Group, Steen & Strom ASA, Norway, $4.3 billion
Cie de Saint-Gobain SA, Maxit Holding GmbH, Germany, $3.3 billion
Banque Federale des Banques Populaires SA, Banque de Savoie, France, $3.2 billion
Xella International GmbH SPV, Xella International GmbH, Germany, $3.2 billion

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Orange Participations SA, Egyptian Co for Mobile Services, Egypt, $4.5 billion
(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 26 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 21 out of 183 countries(2009)

Registering property: 142 out of 183 countries

Paying Taxes: 55 out of 183 countries

Getting credit: 46 out of 183 countries

Protecting investors: 74 out of 183 countries

Trading across border: 26 out of 183 countries

Enforcing Contracts: 7 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)
18

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 64 Score: 64.6 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+1
Total area 551,500 km2 (2006)
CapitalParis (2009)
Currencyeuros (EUR) (2009)
Government typerepublic (2009)
LanguagesFrench 100%, rapidly declining regional dialects and languages (Provencal, Breton, Alsatian, Corsican, Catalan, Basque, Flemish)overseas departments: French, Creole patois
ReligionsRoman Catholic 83%-88%, Protestant 2%, Jewish 1%, Muslim 5%-10%, unaffiliated 4%, overseas departments: Roman Catholic, Protestant, Hindu, Muslim, Buddhist, pagan
Total population
1980199020002010*2015**
53.73 million56.71 million59.06 million62.96 million64.41 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
61.9%73.3%75.8%77.6%
Population median age39.0 years (2006)
Population growth rate0.5% (2009)
Life expectancy81 years (2007)
Adult literacyN/A
% of population living on less than $2 a dayN/A
Inequality of wealth distribution (Gini index)

32.7 (1995)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

155.76% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population80.1% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Paris: 27th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

6.0737 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST FOREIGN EXCHANGE BANKS

2010:
  • COUNTRY WINNERS BNP Paribas (National, 2010)
2009:
  • COUNTRY WINNERS BNP Paribas (National, 2009)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2011:
  • REGIONAL WINNERS BNP Paribas (Europe, 2011)
  • COUNTRY WINNERS BNP Paribas (National, 2011)
2010:
  • REGIONAL WINNERS BNP Paribas (Europe, 2010)
  • COUNTRY WINNERS BNP Paribas (National, 2010)
2009:
  • REGIONAL WINNERS BNP Paribas (Europe, 2009)
  • COUNTRY WINNERS BNP Paribas (National, 2009)

WORLD'S BEST DEVELOPED MARKET BANKS

2011:
  • BNP Paribas (National, 2011)
2010:
  • BNP Paribas (National, 2010)
2009:
  • BNP Paribas (Europe, 2009)

WORLD'S BEST SUPPLY CHAIN FINANCE PROVIDERS

2011:
  • GLOBAL WINNERS / Best Pre-Shipment Financing Solution BNP Paribas Utexam Logistics (Global, 2011)

WORLD'S BEST BANKS

2011:
  • REGIONAL BNP Paribas (Developed Europe, 2011)

WORLD'S BEST DERIVATIVES PROVIDERS

2009:
  • Best Equity Derivatives Provider Société Générale (Europe, 2009)

WORLD'S BEST INTERNET BANKS

2010:
  • COUNTRY WINNERS / Best Corporate/Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (2009)
  • COUNTRY WINNERS / Best Corporate/Institutional Internet Banks Citi (2009)

WORLD'S SAFEST BANKS

2011:
  • OVERALL SAFEST Caisse des Depots et Consignations (CDC) (Global, 2011)
  • OVERALL SAFEST BNP Paribas (Global, 2011)
  • OVERALL SAFEST Credit Agricole (Global, 2011)
  • OVERALL SAFEST Credit Lyonnais (Global, 2011)
  • OVERALL SAFEST Societe Generale (Global, 2011)
  • OVERALL SAFEST Banque Federative du Credit Mutuel (BFCM) (Global, 2011)
  • REGIONAL WINNERS Caisse des Depots et Consignations (CDC) (Western Europe, 2011)
2010:
  • OVERALL SAFEST Caisse des Depots et Consignations (CDC) (Global, 2010)
  • OVERALL SAFEST BNP Paribas (Global, 2010)
  • OVERALL SAFEST Credit Agricole (Global, 2010)
  • OVERALL SAFEST Société Générale (Global, 2010)
  • OVERALL SAFEST Banque Federative du Credit Mutuel (Global, 2010)
  • OVERALL SAFEST Credit Industriel et Commercial (CIC) (Global, 2010)
  • REGIONAL WINNERS Caisse des Depots et Consignations (CDC) (Western Europe, 2010)
2009:
  • OVERALL SAFEST Caisse des Depots et Consignations (CDC) (Global, 2009)
  • OVERALL SAFEST BNP Paribas (Global, 2009)
  • OVERALL SAFEST Credit Agricole S.A. (Global, 2009)
  • OVERALL SAFEST Societe Generale (SG) (Global, 2009)
  • OVERALL SAFEST Banque Federative du Credit Mutuel BFCM (Global, 2009)
  • OVERALL SAFEST Credit Industriel et Commercial CIC (Global, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • REGIONAL WINNERS BNP Paribas (Western Europe, 2011)
  • COUNTRY WINNERS BNP Paribas (National, 2011)
2010:
  • COUNTRY WINNERS BNP Paribas (National, 2010)
  • REGIONAL WINNERS BNP Paribas (Western Europe, 2010)
2009:
  • REGIONAL WINNERS BNP Paribas (Western Europe, 2009)
  • COUNTRY WINNERS BNP Paribas (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2011:
  • COUNTRY WINNERS BNP Paribas (National, 2011)
  • DEALS OF THE YEAR / Lead Managers BNP Paribas (Global, 2011)
2010:
  • COUNTRY WINNERS BNP Paribas (National, 2010)

CENTRAL BANKER REPORT CARD

2010:

WORLD'S BIGGEST BANKS

2011:
  • OVERALL BIGGEST BNP Paribas (Global, 2011)
  • OVERALL BIGGEST Crédit Agricole (Global, 2011)
  • OVERALL BIGGEST Société Générale (Global, 2011)
  • OVERALL BIGGEST Groupe BPCE (Global, 2011)
  • OVERALL BIGGEST Banque Fédérative du Crédit Mutuel (BFCM) (Global, 2011)
2010:
  • OVERALL BIGGEST BNP Paribas (Global, 2010)
  • OVERALL BIGGEST Crédit Agricole (Global, 2010)
  • OVERALL BIGGEST Groupe BPCE (Global, 2010)
  • OVERALL BIGGEST Société Générale (Global, 2010)
  • OVERALL BIGGEST Banque Féderative du Crédit Mutuel (BFCM) (Global, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2011:
  • COUNTRY WINNERS BNP Paribas (National, 2011)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE