artially or fully privatized many large companies,
banks, and insurers, and has ceded stakes in such leading firms as
Air France, France Telecom, Renault, and Thales. It maintains a
strong presence in some sectors, particularly power, public
transport, and defense industries. The telecommunications sector is
gradually being opened to competition. France's leaders remain
committed to a capitalism in which they maintain social equity by
means of laws, tax policies, and social spending that reduce income
disparity and the impact of free markets on public health and
welfare. Widespread opposition to labor reform has in recent years
hampered the government's ability to revitalize the economy. In
2007, the government launched divisive labor reform efforts that
will continue into 2008. France's tax burden remains one of the
highest in Europe (nearly 50% of GDP in 2005). France brought the
budget deficit within the eurozone's 3%-of-GDP limit for the first
time in 2007 and has reduced unemployment to roughly 8%. With at
least 75 million foreign tourists per year, France is the most
visited country in the world and maintains the third largest income
in the world from tourism.

GDP (purchasing power parity):

$2.075 trillion (2007 est.)

GDP (official exchange rate):

$2.56 trillion (2007 est.)

GDP - real growth rate:

2.1% (2007 est.)

GDP - per capita (PPP):

$32,600 (2007 est.)

GDP - composition by sector:

agriculture: 2.2%
industry: 20.6%
services: 77.2% (2007 est.)

Labor force:

27.91 million (2007 est.)

Labor force - by occupation:

agriculture: 4.1%
industry: 24.4%
services: 71.5% (1999)

Unemployment rate:

7.9% (2007 est.)

Population below poverty line:

6.2% (2004)

Household income or consumption by percentage share:

lowest 10%: 3%
highest 10%: 24.8% (2004)

Distribution of family income - Gini index:

28 (2005)

Investment (gross fixed):

21.5% of GDP (2007 est.)

Budget:

revenues: $1.287 trillion
expenditures: $1.356 trillion (2007 est.)

Fiscal year:

calendar year

Public debt:

63.9% of GDP (2007 est.)

Inflation rate (consumer prices):

1.5% (2007 est.)

Central bank discount rate:

NA

Commercial bank prime lending rate:

7.28% (31 December 2007)

Stock of money:

NA
note: see entry for the European Union for money supply in the Euro
Area; the European Central Bank (ECB) controls monetary policy for
the