the biggest sector of the economy is household consumption (55 percent) followed by government expenditure (24 percent) and gross fixed capital formation (22 percent). Still, it is the biggest contraction in GDP since the second quarter of 1968, when the country was dealing with civil unrest, student protests and general strikes. The statistic depicts France's real gross domestic product (GDP) growth rate from 2009 to 2018, with projections up until 2021. Agriculture contributes 2 percent to GDP, yet France is the second largest exporter of agricultural products in the world. Download historical data for 20 million indicators using your browser.Direct access to our calendar releases and historical data. France gdp growth … The Gross Domestic Product (GDP) in France contracted 5 percent in the first quarter of 2020 over the same quarter of the previous year. Conversely, changes in inventory contributed positively, adding 0.9 points.The French economy shrank 0.1 percent on quarter in the three months to December 2019, in line with preliminary estimates and after a 0.3 percent growth in the previous period, final estimates showed.
It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. With at least 82 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. France has a large and diversified industrial and agricultural base which includes aircraft, military equipment, perfumes, pharmaceuticals, wine, beef and wheat production. The Trading Economics Application Programming Interface (API) provides direct access to our data. The economic recession deepened as the COVID-19 outbreak took a huge toll on the economy, with non-essential activities being closed between mid-March and the beginning of May. France is the seventh largest economy in the world and the second largest in the Euro Area. The Trading Economics Application Programming Interface (API) provides direct access to our data. The government expects the economy to shrink at least 8 percent in 2020 and launched a stimulus package worth €110 billion or 4 percent of the GDP to help firms and employees.The French economy shrank 5.8 percent on quarter in the three months to March 2020, entering a technical recession and compared with market expectations of a 3.5 percent contraction. Meantime, government spending growth was unchanged (at 0.5 percent). There were declines in household consumption (-6.1 percent vs 0.3 percent), led by falls in spending on both goods and service; fixed investment (-11.8 percent vs flat reading), mainly led by construction; and government spending (-2.4 percent vs 0.5 percent).
Agriculture contributes 2 percent to GDP, yet France is the second largest exporter of agricultural products in the world. Conversely, changes in inventory contributed positively, adding 0.6 points.The French economy shrank 5.3 percent on quarter in the first three months of 2020, lower than an initial estimate of a 5.8 percent drop. Household consumption growth slowed (0.3 percent vs 0.4 percent in Q3); and fixed investment rose much less (0.2 percent vs 1.3 percent). Changes in inventories subtracted 0.5 points, while Internal demand excluding inventory changes contributed 0.3 points. Exports of goods and services account for 29 percent of GDP while imports account for 31 percent, subtracting 2 percent from total GDP. This was the steepest decline in GDP on record, as the COVID-19 outbreak ravaged the economy, with non-essential activities being closed since mid-March. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. GDP Annual Growth Rate in France averaged 3.12 percent from 1950 until 2020, reaching an all time high of 12.60 percent in the second quarter of 1969 and a record low of -5 percent in the first quarter of 2020. There were sharper declines in household consumption (-11.0 percent vs -5.8 percent), led by further falls in spending on both goods and services; fixed investment (-17.8 percent vs -10.3 percent), mainly led by construction; and government spending (-8 percent vs -3.5 percent). This was the first contraction since Q2 2016, on the back of strikes over the government's pension reforms.