France ranks in the top ten nations with the highest GDP (PPP- purchase power parity) in the world. Though the growth rate of the French economy is considerably slower compared to the other European countries, the population below the poverty line is relatively smaller, and is said to be one of the lowest in the world. It is observed that less than 10% of the French population is poor after deduction of necessary taxes. The unemployment rate in France is also one of the highest in the European Union, which is over 7% based on the results of a survey done in the year 2008.

France has been one of the strongest economies in Europe and was a prime supporter of the European Union, making Euro its single currency. The Euro completely replaced France’s local currency, the Franc, in the year 2002. The three sectors that are main contributors of the national GDP are: the service industry, manufacturing industry and agriculture industry.

Service industry

The service industry is the highest revenue generating industry in France. It generates about three fourths of the national GDP. The different types of potential service industries are: hospitality, finance, insurance, legal, logistics and other similar business service industries.

Manufacturing industry

France is one of the leaders in applying the latest technology in different types of manufacturing industries. The French government also spends a considerable amount of money doing research with the goal inventing new technologies that would improve the quality and quantity of industrial products. Secondly, though France doesn’t have oil reserves of its own, it does have a strong base of nuclear power generators that provides the necessary energy required to drive its industry. Almost 80% of the total electricity requirement is fulfilled by the nuclear power generation plants.

The prominent manufacturing industries of France include but are not limited to: aerospace, automobile, armament, construction, chemical, telecommunication, satellite equipment, ship building and pharmaceutical. These diverse industries create revenue which is around 25% of the national GDP.

Agriculture

France is one of the largest agricultural countries in the world, and ranks in the list of top ten producing nations of the world. With the surplus production, France is able to export a substantial amount of agricultural products like: wheat, poultry, beef, and dairy products. The main importing countries of these products from France are other neighboring nations in European Union and those in the African continent. Regardless of these positive aspects, the agriculture industry contributes less than 5% towards the GDP.