Resilient growth but widening imbalances
LOW RISK for entreprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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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%
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1 |
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Italy
7.6%
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2 |
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United States of America
7.6%
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3 |
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Belgium
7.4%
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4 |
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Spain
7.3%
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5 |
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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.
|
LATEST NEWS ABOUT FRANCE
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Breaking spread: fragmentation risk in the Eurozone
06 July
The ECB is facing a “risk trilemma” in 2022 as its hawkish monetary policy pivot pushes the specter of fragmentation risk back into the limelight.
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Can the European consumer hold on?
10 June
Consumers were meant to drive the post Covid-19 recovery in 2022, but elevated geopolitical uncertainty and sky-high inflation have derailed those expectations.
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Global trade: Battling out of demand and price shocks
25 March
The invasion of Ukraine and renewed Covid-19 outbreaks in China are hitting global trade with a double whammy in 2022: lower volumes and higher prices.
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