National economy of France - industries, GDP and prosperity level

France today, is one of the most developed countries in the world in terms of GDP. These indicators are stable, despite the fact that a fairly large part of the economy officially belongs to the state. Also, it should be noted that one of the highest living standards in the world is observed in France. This is due to the steady increase in the number of immigrants in the State. One of the most guarded sectors of the state is the Agricultural sector. The main emphasis was placed on private land ownership. Of all others, thanks to which every year the potential of this field of activity increases. Today, France is considered the largest State in the whole of Europe in terms of the quantity of grain and wheat being cultivated. Also, the country produces a lot of beef and dairy products, especially cheese, which today has about 400 varieties. All these products are mostly exported, and ensure the growth of the country’s GDP. The wine industry is also actively developing. Elite varieties of wines are exported all over the world.

Industrial production in France gives at least 22% of the country’s total GDP. Furthermore, about one third of the working-age population is employed in this exact industry. On the territory of France, mechanical engineering is particularly widespread, with the share of products more than 3% of that of the total world production. This is a sufficiently impressive figure, in comparison with the countries of the European Union. The Country also has a well-developed chemical and automobile industry. The most important firms which are noted for their automobile production around the world are Peugeot-citroen, and Renault, with the latter completely owned by the State. In terms of food exports, France ranks second place, behind only the food industry of the United States of America.

Also, recently, France began actively investing in shipbuilding, and electrical engineering. The Country is rich in Iron, Uranium ores, as well as Potassium salts. This provided a solid foundation for the development and improvement of the Mining Industry. It should be noted that non-ferrous metallurgy in France is also developed at a very high level, and contemporary shops for steelmaking occupy the leading positions in the world ratings on equipment and quality of production. As far as power generation is concerned, France is able to provide half the country’s own raw material. They continue to obtain bituminous coal in some regions of France. However, its share in the energy balance is less than 6%. Oil stockpiles in the country are limited. The significant dependence of France on the import of oil is still observed even today. Gas reserves in the country are also severely depleted, so the state annually tries to reduce the amount of its production. Copyright www.orangesmile.com

It should be noted that nuclear power plants have received special development in France. The Country’s use of atomic energy can be compared only with the energy potential of the United States of America. In Pierrelatte today, is located one of the largest plants dedicated to uranium enrichment, while in Normandy, a plant for the processing of radioactive waste successfully functions. On the basis of this, it is possible to draw the conclusion that France not only successfully uses atomic energy, but is also able to perfectly obtain its by-products, without hurting the environment. It is worth noting that France, despite its meager energy potential with regards to fossil fuels, has created an incredibly powerful system for generating electricity. This is why it produces much more energy than it consumes and actively exports its surplus to neighboring countries of the European Union, including Switzerland.

The service sector in France is an excellent ground for the development of large and small businesses. It employs more than 65% of the able-bodied population, and this is about 15 million people. That is why this sector makes a huge contribution to the country’s annual budget and is characterized by regular development. According to various statistics, France is considered the most visited country in the world. It is for this reason that the hotel business is at the highest level. But at the same time, you will find not only large-scale, high-class hotels functioning here, but also thousands of small hotels that are oriented towards a specific class of tourists. Small businesses in the country are mostly represented by restaurants, retail outlets, and also financial and telecommunication services. Such a state of affair as the Country provides, enables any resident of France to successfully achieve stability, and record a reasonable success through his or her work.

Despite great achievements in the field of economics and the banking sector being regarded as most developed in the entire world, France still as of today records a huge public debt and has a deficit in the state budget. The ratings of GDP last year was about 1 trillion, 700 million Euros. GDP per capita of population is 41 000 dollars as of last year. Inflation is gradually decreasing, reaching an index of 1.7%. However, in spite of the successful economic structure, more than seven percent of the Country’s population still lives below the poverty lines. Unemployment rate accounts for about 7% and this index is seen to be slightly on the rise yearly.