Resilient growth but widening imbalances

AA1

LOW RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in April 2022.

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GDP USD 2603bn (World ranking 7, World Bank 2020)
Population 67.39mn (World ranking 21, World Bank 2020)
Form of state Semi-presidential republic
Head of state Emmanuel Macron (President)
Next elections 2022, presidential and legislative
  • Dynamic demographics
  • Infrastructures (e.g., transport) and public services are of high quality
  • Many international corporate giants and a growing presence of technological start-ups (‘French tech’)
  • Diversified economy
  • Tourism revenues
  • Quality education system
  • Dual labour market: Insiders vs. outsiders, leading to structurally high unemployment rate
  • Low employment rate among youth and seniors
  • Growing inequalities in spite of costly redistribution
  • Rapid deindustrialisation and low competitiveness of manufacturing firms
  • Lack of large SMEs that can bear the sunk costs associated with innovation and exports
  • Rent-based economy (e.g., retail distribution, taxis)
  • Elevated level of public spending and questionable efficiency

Trade structure by destination/origin

(% of total, 2020)

Exports Rank Imports
Germany 14.3%
1
17.3% Germany
Italy 7.6%
2
9.6% Belgium
United States of America 7.6%
3
8.6% Netherlands
Belgium 7.4%
4
8.3% Italy
Spain 7.3%
5
7.9% Spain

Trade structure by product

(% of total, 2020)

Exports Rank Imports
Road vehicles 8.7%
1
10.9% Road vehicles
Medicinal and pharmaceutical products 7.9%
2
6.0% Electrical machinery, apparatus and appliances, n.e.s.
Other transport equipment 6.6%
3
5.4% Medicinal and pharmaceutical products
Electrical machinery, apparatus and appliances, n.e.s. 6.2%
4
5.1% Petroleum, petroleum products and related materials
Other industrial machinery and parts 4.4%
5
4.4% Miscellaneous manufactured articles, n.e.s.
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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