France is one of the most developed countries...

in #steempress6 years ago


France is one of the most developed countries in the world, as well as one of the founders of the European Union and the Eurozone in the European economy. In 2010, the United States, China, Japan and Germany became the world's fifth largest powerhouse. France is ahead of Great Britain in this list. France is the European Union's largest producer of agricultural products (grain, sugar, wine, dairy products, etc.). This country has chosen the path of open economy and actively participates in international exchanges, especially after the establishment of Free Trade and Customs Union zones (1968), and expanded trade relations with the Union countries. In 2006, imports accounted for 27% of GDP and 26% of exports. State expenditures (56.2% of GDP) and tax rates are among the first in the world. This coincidence is also not accidental: high state spending is funded from taxes collected. The main focus of public spending on education, health, state institutions, etc. allocated dividends and state investments.
One of the key indicators of the strength of the country's economy is the GDP (gross domestic product). GDP is calculated in two ways: the exchange rate or purchasing power parity (AQP). Growth (or decrease) in GDP depends on a number of factors: consumer expenditures, investments, exports, imports, etc. GDP per capita is the indicator of living standards of the people living in the country.
GDP in France is nominally $ 2675.9 billion or 1931 billion euros. As you can see, the volume of GDP is approaching to 2000 billion euros, and this figure is expected to pass in 2012. According to the nominal value of GDP, France ranks fifth in the world and 39th in GDP per capita, and is behind the majority of the EEA (developed countries) for the latter. However, Europe's richest people are also living in France. 0.45% of the country's population (280000 people) is millionaires.


Consumption, as opposed to Germany and China, is a key component of French economic development and is one of the key factors determining the GDP growth rate. In the other two countries, exports play a more prominent role. Only domestic consumption, ie the costs of French families, is more than half of GDP. Apparently, the population's income is the driving force of the local economy. More revenue, more consumption. In recent years, the share of household consumption has dropped to 10.4%, while housing, heating and lighting costs have increased and now account for 19.5% of the total population's consumption. The only factor that changes GDP is consuming. Over the last few years, the trade balance - the difference between exports and imports - has a negative impact on the economy's revival. In 2007, this deficit reached a record (-39.171 billion euros). For comparison, in 2006 the trade balance in Germany was 162 billion euros. In the present period, this remarkable relationship between exports and imports continues to slow down economic growth. However, the decline in domestic investments in France since 1962 and the preference for companies to invest in foreign countries have also prevented the growth rate of GDP. This comes from the enthusiasm of hand labor in France and the exploitation of the natural resources of foreign countries.

Share of different manufacturing sectors in GDP
Manufacturing sectors in France can be divided into three groups: primary, secondary and higher
The primary sector includes agriculture, fishing, forestry, mining and hunting. Approximately 3.8% of the workforce in this sector works and, in turn, this industry provides 1.7% of GDP (2010). The transition to intensive development in rural areas allows for high productivity, despite the small number of workers and land plots in this area.
18.6% of the GDP is accounted for by revenues from the average specialized sector. This sector incorporates industrial (manufacturing, food and energy) and construction, with 24.4% of the workforce operating in these sectors. Between 1980 and 2008, as in many Western European countries, the number of workers in industry has declined in France. In total, during this period, 36% or 1.9 million workers in industry lost their jobs. Paradoxically, productivity has grown during this period. This is the result of replacing manual labor with technological equipment. In turn, the development of technology has increased demand for qualified specialists who can handle these equipment and has created new areas of activity.


Posted from my blog with SteemPress : https://alfren.000webhostapp.com/2018/10/france-is-one-of-the-most-developed-countries

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