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Economy and Banking Sector of France

National Currency

Euro (EUR)

France joined the Euro Area on 1 January 1999.

GDP

Nominal GDP (2017)
2 287.6 bln EUR  (+0.03%)
Nominal GDP per Capita (2017)
34 100 EUR  (+0.02%)
Real GDP Growth (2017)
1.8 %  (2016: 1.2 %)

According to Eurostat, nominal GDP of France in 2017 was 2 287.6 bln EUR.

France underperforms the European Union in terms of real GDP growth with the average annual differential coming to -0.3% over the past 10 years (2007 - 2017). In 2017 real GDP growth was 1.8% which was below the Euro Area average (2.3%) and below the European Union average (2.4%). Real GDP growth in 2018 - 2023 are IMF's estimates.

Real GDP Growth in France.

Chart 1. Real GDP Growth in France. Source: Eurostat, International Monetary Fund.

In 2017, nominal GDP per capita in France was 34 100 EUR.

France has an above-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, exceeded that of the European Union by 4.6% over the past 10 years (2006 - 2016). GDP per capita at PPP in 2017 - 2023 are IMF's estimates.

GDP Per Capita at Purchasing Power Parity in  France; European Union = 100.

Chart 2. GDP Per Capita at Purchasing Power Parity in France; European Union = 100.

Inflation Rate

CPI, MoM (Feb 2018)
0.0 %  (Jan 2018: -0.1 %)
CPI, YoY (Feb 2018)
1.3 %  (Jan 2018: 1.5 %)
CPI, Year Average (2017)
1.2 %  (2016: 0.3 %)

According to Eurostat, inflation rate in France in 2017 expressed as annual percentages of average consumer prices was 1.2% which was below the Euro Area average (1.5%) and below the European Union average (1.7%). Inflation rates in 2018 - 2023 are IMF's estimates.

Inflation Rate in France.

Chart 3. Inflation Rate in France. Source: Eurostat, International Monetary Fund.

Unemployment Rate

Unemployment Rate (2017)
9.4 %  (2016: 10.1 %)

According to Eurostat, unemployment rate in France in 2017 was 9.4% which was above the Euro Area average (9.1%) and above the European Union average (7.6%). Unemployment rates in 2018 - 2023 are IMF's estimates.

Unemployment Rate in France.

Chart 4. Unemployment Rate in France. Source: Eurostat, International Monetary Fund.

Government Bond Yield

Government Bond Yield (Feb 2018)
0.98 %  (Jan 2018: 0.86 %)

According to Eurostat, government bond yield in France in February 2018 was 0.98%, compared to 0.86% in January 2018.

Government bond yield of France.

Chart 5. Government bond yield of France. Source: Eurostat.

Credit Ratings (as of May 2018)

Fitch
AA (very high credit quality), outlook stable
Moody's
Aa2 (high grade), outlook positive

France has sovereign credit ratings assigned by Fitch and Moody's: the rating set by Fitch is AA (very high credit quality), outlook stable; the rating set by Moody's is Aa2 (high grade), outlook positive.