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The French Economy

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... still has large control (Air France, France Telecom, public transport, defense industries) ... GDP (billions) France 1,406 1,452 1,438 1,294 1,303. US 8, ... – PowerPoint PPT presentation

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Title: The French Economy


1
The French Economy
  • Rachel Waldera
  • December 4, 2002

2
History
  • 1789-1799 French Revolution
  • Declaration of the Rights (August 26, 1789)
  • Abolition of the monarchy (1792)
  • 1958-1968 Constitution of the Fifth Republic
    adopted by referendum (September 28, 1958)
  • Introduction of the common market (1959)
  • Economic growth. Social crisis (May 1968)

3
Background Information
  • European nation leader and one of the most modern
    countries in the world
  • Presidential democracy since 1958
  • Many large companies/banks privatized but
    Socialist led government still has large control
    (Air France, France Telecom, public transport,
    defense industries)

4
  • Natural Resources
  • Coal, iron ore, bauxite, zinc, potash, timber,
    fish
  • Industries
  • Machinery, chemicals, automobiles, metallurgy,
    aircraft, electronics, tourism

5
  • Area- 547,030 sq km
  • 33 arable land
  • 2 permanent crops
  • 65 other
  • Irrigated land- 20,000 sq km
  • GDP by sector
  • Agriculture 3.3
  • Industry 25.7
  • Services 71
  • Labor Force
  • 26.6 million
  • 71- Services
  • 25- Industry
  • 4- Agriculture

6
Economic Goals
  • Maintain social equity (laws, tax policies,
    social spending)
  • Reduce income inequality

7
Current Government
  • Lowered income taxes (to reduce unemployment, 8.9
    in 2001)
  • Little reform on pension system, rigid labor
    market
  • Reduction of work week (35 hours)

8
Statistics
  • Population 59 million
  • Birth Rate 11.94/1000
  • Death Rate 9.04/1000
  • Infant Mortality Rate 4.41(deaths)/1000(live
    births)
  • Life Expectancy at birth 79.05 years
  • Literacy 99 (age 15 that can read/write)

9
Population Comparison
  • 1997 1998 1999 2000 2001
  • Population France 58 58 59 59 59
  • (millions) US 272 275 278 282 284
  • Population France 0 0 0 0 0
  • Growth US 1 1 1 1 1
  • (annual )

10
Trade
  • Exports
  • 293.3 billion
  • Machinery/transportation equipment, aircraft,
    plastics, chemicals pharmaceutical products,
    iron, steel, beverages
  • EU- 61 (Germany 14, UK 10, Spain 9, Italy 9,
    Benelux 8), US- 9
  • Exports of goods services
  • 1997 26 ( of GDP)
  • 2000 29 ( of GDP)
  • Imports
  • 292.6 billion
  • Machinery/equipment, vehicles, crude oil,
    aircraft, plastics, chemicals
  • EU- 63 (Germany 17, Benelux 10, Italy 9, UK
    8), US- 7
  • Imports of goods services
  • 1997 23 ( of GDP)
  • 2000 27 ( of GDP)

11
Trade Comparison
  • 1997 1998 1999 2000 2001
  • FDI, net flows France 23 30 47 43 ..
  • (billions) US 106 178 301 288 ..
  • Exports France 26 26 26 29 ..
  • ( of GDP) US 12 11 11 .. ..
  • Imports France 23 23 24 27 ..
  • ( of GDP) US 13 13 13 .. ..

12
Comparison of GDP between France and the US
  • 1997 1998 1999 2000 2001
  • GDP (billions) France 1,406 1,452 1,438
    1,294 1,303
  • US 8,257 8,729 9,237 9,837 10,171
  • GDP growth France 2 3 3 3 2
  • (annual ) US 4 4 4 4 1
  • GNI per capitaFrance 25,850 24,830 24,290
    23,810 22,690
  • US 30,040 30,730 32,370 34,100 34,870

13
Budget
  • Revenues 210 billion
  • Expenditures 240 billion
  • External Debt 106 billion

14
Current Situation
  • January 1999- implemented the Euro
  • Euros per US .9386 (1999), 1.1324 (Jan. 2002)
  • Unified/capable European defense and security
    apparatus
  • Transitioning from government ownership/interventi
    ons to reliance on market mechanisms

15
  • Questions?
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