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ECONOMY France is the world's fourth largest economic power in terms of GDP. The country's assets are varied and include its transport and telecommunication sectors, its agrifood and pharmaceutical industries, along with banking, insurance, tourism and the traditional luxury products (leather goods, ready-to-wear fashion, perfumes, fine wines and spirits, etc.).
France conducts 66% of its trade with its European Union partners (50% within the euro area). . France ranks second worldwide for direct inward investment. Foreign investors appreciate the skills of French workers, the advanced level of research, the mastery of high technology, the stable currency and control of production costs.
Agricultural labor force: 1,100,000 Utilized agricultural area: 27,470.000 hectares, 50.3% of the area of metropolitan France. Principal agricultural products in France Livestock herds Meat production Forests
Woods and forests cover some 16.3 million hectares,
30% of France's total area, placing France third among the EU countries
in terms of forest area. Forest area in France has increased by 46% since 1945 and continues to grow by about 74,000 hectares each year. Most trees are deciduous (two thirds), while the remaining third consists of conifers. The National Forestry Office (Office national des Forêts - ONF) is responsible for managing national forests (1,760.000 hectares) as well as those belonging to local authorities (1,810.000 hectares). The remaining 11,700.000 hectares belong to some 3,5 million
private owners. Forests in France are a source of biological and scenic
wealth, a place for excursions and relaxation; they also yield an annual
harvest of 53 million cubic meters of timber. Energy independance : 49,8% Breakdown of primary energy consumption Industry
Leading industrial sectors in France * Construction and civil engineering *3. Automotive Industry
Annual turnover : &euros;96.6 billion Fashion and Luxury Goods
Annual net sales: &euros;28.8 billion Pharmaceuticals
Annual net sales: &euros;40.6 billion Automotive Industry Annual net sales: &euros;109 billion Material Processing (steel, aluminium,
glass) Telecommunication and Information Annual net sales: &euros;45 billion Aerospace Annual net sales: &euros;32.1 billion (2006) The internet showcase for French industry and technology: www.industrie.gouv.fr/francetech National R & D expenditure amounts to €37.99 billion i.e. 2.26% of GDP, the fourth highest in the OECD. The public sector finances 52.5% of R & D and is responsible for running the major national research facilities (building maintenance, salaries and laboratory equipment)which include the CNRS (all fields), INSERM (medicine), INRA (agronomy), etc. Research financed by private enterprise (47.5%) focuses on advanced technology sectors such as aerospace, pharmaceuticals, car manufacture, communications equipment and precision instrument. France ranks fourth among OECD countries for research, after Japan, the United States and Germany.
Densest in the world and longest in the EU with a total of 893 300 km of local, secondary and main roads and motorways (10,300km: second in Europe)
On January, 1 2007 (SNCF), 30,990 km of track. France holds the world speed record (574,8 km/h in June 2007) with its high-speed train (TGV), which runs on 1,550 kilometres (5% of the total rail network) of special track allowing trains in normal commercial operation to travel at 320 km/h. Each year over 118 million passengers and 5.8 billion
tons kilometers of freight
Annually 212 ships (total tonnage of 4.7 million) transport 340 million tons of freight.
In 2000 Euronext merged and replaced stock exchanges of Paris, Amsterdam and Bruxelles. In 2002, it bought out LIFFE (London International Financial Futures and Options Exchange)and merged with Portuguese bank BVLP (Bolsa de Valores de Lisboa e Porto). NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V., was launched on April 4, 2007. NYSE Euronext (NYSE/New York and Euronext/Paris: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. With a leading $28.5trillion / €21.5 trillion total market capitalization of listed companies and average daily trading value of its combined markets of approximately $102 billion / €77 billion (as of February 28, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity. The leading French banks are BNP Paribas, Crédit Agricole, Société Générale, Crédit Lyonnais and LCL.
The French insurance sector has consolidated its position as the fifth largest in the world, with net sales of € 267.6 billion in 2005. Axa, Europe’s second largest insurance company, CNP and AGF are the three main French insurance companies. Life and health policies are continuing to expand (+16.1%). Property-casualty insurance (including third-party liability) is growing by 2.2%. The insurance sector provides some 200,000 jobs. - Tourism
With 76 million foreign tourists in 2005, France is the most visited country
in the world. France's tourism sales in 2004 totaled €66 million. France’s income from tourism (€66 billion) is the third largest in the world, after the United States and Spain. The trade surplus in this sector is over €8.9 billion. For further information
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