OECD Economic Surveys: France 2021

Abstract

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of France were reviewed by the Committee on 4 October 2021. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 28 October 2021.

The Secretariat’s draft report was prepared for the Committee by Antoine Goujard and Priscilla Fialho with the participation of Chiara Loriaux under the supervision of Pierre Beynet. Statistical research assistance was provided by Paula Adamczyk, and editorial assistance by Jean-Rémi Bertrand.

The previous Survey of France was issued in April 2019.

Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at http://www.oecd.org/eco/surveys.

Basic statistics of France, 2020

(Numbers in parentheses refer to the OECD average)^*

LAND, PEOPLE AND ELECTORAL CYCLE
Population (million)	67.4		Population density per km²	123.1	(38.6)
Under 15 (%)	17.7	(17.8)	Life expectancy at birth (years, 2019)	82.6	(80.2)
Over 65 (%)	20.8	(17.4)	Men (2019)	79.7	(77.6)
International migrant stock (% of population, 2019)	12.8	(13.2)	Women (2019)	85.6	(82.9)
Latest 5-year average growth (%)	0.3	(0.6)	Latest general election	June	2017
ECONOMY
Gross domestic product (GDP)			Value added shares
In current prices (billion USD)	2 625.1		Agriculture, forestry and fishing	1.9	(2.8)
In current prices (billion EUR)	2 300.7		Industry including construction	18.3	(26.3)
Latest 5-year average real growth (%)	-0.2	(0.8)	Services	79.8	(71.0)
Per capita (000 USD PPP)	46.7	(46.3)
GENERAL GOVERNMENT Per cent of GDP
Expenditure	61.7	(49.8)	Gross financial debt (OECD: 2019)**	146.5	(97.2)
Revenue	52.6	(38.9)	Net financial debt (OECD: 2018)**	94.5	(68.2)
EXTERNAL ACCOUNTS
Exchange rate (EUR per USD)	0.88		Main exports (% of total merchandise exports)
PPP exchange rate (USA = 1)	0.73		Machinery and transport equipment	34.1
In per cent of GDP			Chemicals and related products, n.e.s.	20.9
Exports of goods and services	27.8	(50.6)	Miscellaneous manufactured articles	13.3
Imports of goods and services	29.9	(47.1)	Main imports (% of total merchandise imports)
Current account balance	-1.9	(0.0)	Machinery and transport equipment	34.8
Net international investment position	-32.5		Miscellaneous manufactured articles	16.5
			Chemicals and related products, n.e.s.	14.7
LABOUR MARKET, SKILLS AND INNOVATION
Employment rate (aged 15 and over, %)	50.2	(55.1)	Unemployment rate, Labour Force Survey (aged 15 and over, %)	8.0	(7.1)
Men (OECD: 2019)	54.1	(65.6)	Youth (aged 15-24, %, OECD: 2019)	20.1	(11.8)
Women (OECD: 2019)	46.6	(49.9)	Long-term unemployed (1 year and over, %)	2.9	(1.3)
Participation rate (aged 15 and over, %)	54.5	(59.6)	Tertiary educational attainment (aged 25-64, %, 2019)	37.9	(38.0)
Average hours worked per year	1,402	(1,687)	Gross domestic expenditure on R&D (% of GDP, 2018)	2.2	(2.6)
ENVIRONMENT
Total primary energy supply per capita (toe, 2019)	3.6	(3.9)	CO2 emissions from fuel combustion per capita (tonnes, 2019)	4.4	( 8.3)
Renewables (%, 2019)	10.7	(10.8)	Water abstractions per capita (1 000 m³, 2018)	0.4
Exposure to air pollution (more than 10 μg/m³ of PM 2.5, % of population, 2019)	69.3	(61.7)	Municipal waste per capita (tonnes, 2019)	0.5	(0.5)
SOCIETY
Income inequality (Gini coefficient, 2018, OECD: latest available)	0.301	(0.318)	Education outcomes (PISA score, 2018)
Relative poverty rate (%, 2018, OECD: 2016)	8.5	(11.7)	Reading	493	(485)
Median disposable household income (000 USD PPP, 2018, OECD: 2017)	27.2	(23.5)	Mathematics	495	(487)
Public and private spending (% of GDP)			Science	493	(487)
Health care (2019)	11.1	(8.8)	Share of women in parliament (%)	39.5	(31.5)
Pensions (2018, OECD: 2017)	14.0	(8.6)	Net official development assistance (% of GNI, 2017)	0.4	(0.4)
Education (% of GNI, 2019)	4.9	(4.4)

Notes:* The year is indicated in parenthesis if it deviates from the year in the main title of this table. *Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 80% of member countries.

** Public debt (Maastricht definition, as used in the main text) was at 97.6% of GDP in 2019. The Maastricht definition evaluates debt at face value and not market value as employed here. Moreover, the instrument coverage is different.

Source: Calculations based on data extracted from databases of the following organisations: OECD, International Energy Agency, International Labour Organisation, International Monetary Fund, United Nations, World Bank.