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France
| Economy Overview |
| France is in the midst of transition, from a well-to-do modern economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms. The government has partially or fully privatized many large companies, banks, and insurers. It retains controlling stakes in several leading firms, including Air France, France Telecom, Renault, and Thales, and is dominant in some sectors, particularly power, public transport, and defense industries. The telecommunications sector is gradually being opened to competition. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. The government has lowered income taxes and introduced measures to boost employment and reform the pension system. In addition, it is focusing on the problems of the high cost of labor and labor market inflexibility resulting from the 35-hour workweek and restrictions on lay-offs. The tax burden remains one of the highest in Europe (43.8% of GDP in 2003). The lingering economic slowdown and inflexible budget items have pushed the budget deficit above the eurozone's 3%-of-GDP limit. Finance Minister Herve GAYMARD has promised that the 2005 deficit will fall below 3%. |
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| Economy Statistics |
| Exports: |
$419 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
machinery and transportation equipment, aircraft, plastics, chemicals, pharmaceutical products, iron and steel, beverages [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
Germany 15%, Spain 9.5%, UK 9.3%, Italy 9%, Belgium 7.2%, US 6.7% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$419.7 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
machinery and equipment, vehicles, crude oil, aircraft, plastics, chemicals [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Germany 19.2%, Belgium 9.9%, Italy 8.8%, Spain 7.4%, UK 7%, Netherlands 6.7%, US 5.1% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| American Chamber of Commerce in France |
| Address: |
156 boulevard Haussmann
75008 Paris, France |
| Phone: |
+33 (0) 1 5643 4567 |
| Fax: |
+33 (0) 1 5643 4560 |
| Website: |
http://www.amchamfrance.org/ |
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