France's economy combines modern capitalistic
methods with extensive, but declining, government intervention. The
government retains considerable influence over key segments of each
sector, with majority ownership of railway, electricity, aircraft, and
telecommunication firms. It has been gradually relaxing its control
over these sectors since the early 1990s. The government is slowly
selling off holdings in France Telecom, in Air France, and in the
insurance, banking, and defense industries. Meanwhile, large tracts of
fertile land, the application of modern technology, and subsidies have
combined to make France the leading agricultural producer in Western
Europe. Persistently high unemployment will continue to pose a major
problem for the government; a 35-hour work week is being introduced.
France has shied away from cutting exceptionally generous social
welfare benefits or the enormous state bureaucracy, preferring to pare
defense spending and raise taxes to keep the deficit down. France
joined 10 other EU members to launch the euro on 1 January 1999.

purchasing power parity - $1.373 trillion (1999 est.)

2.7% (1999 est.)

purchasing power parity - $23,300 (1999 est.)

agriculture: 3.3%
industry: 26.1%
services: 70.6% (1998)

NA%

lowest 10%: 2.5%
highest 10%: 24.9% (1989)

0.5% (1999 est.)

25.4 million (1994)

services 69%, industry 26%, agriculture
5% (1995)

11% (1999 est.)

revenues: $325 billion
expenditures: $360 billion, including capital expenditures of $NA
(1999 est.)

steel, machinery, chemicals, automobiles, metallurgy,
aircraft, electronics, mining; textiles, food processing; tourism

2% (1999 est.)

480.972 billion kWh (1998)

fossil fuel: 10.77%
hydro: 12.45%
nuclear: 76.24%
other: 0.54% (1998)

389.254 billion kWh (1998)

62 billion kWh (1998)

3.95 billion kWh (1998)

wheat, cereals, sugar beets, potatoes, wine
grapes; beef, dairy products; fish

$304.7 billion (f.o.b., 1999)

machinery and transportation equipment,
chemicals, iron and steel products; agricultural products, textiles
and clothing

EU 63% (Germany 16%, UK 10%, Italy 9%, Spain 9%,
Belgium-Luxembourg 8%), US 7% (1998)

$280.8 billion (f.o.b., 1999)

crude oil, machinery and equipment, chemicals;
agricultural products

EU 62% (Germany 17%, Italy 10%, Belgium-Luxembourg
8%, UK 8%, Spain 7%), US 9% (1998)

$117.6 billion (1996 est.)

ODA, $6.3 billion (1997)

1 French franc (F) = 100 centimes

euros per US$1 - 0.9867 (January 2000), 0.9386 (1999);
French francs (F) per US$1 - 5.65 (January 1999), 5.8995 (1998),
5.8367 (1997), 5.1155 (1996), 4.9915 (1995)
note: on 1 January 1999, the EU introduced a common currency that is
now being used by financial institutions in some member countries at a
fixed rate of 6.55957 French francs per euro; the euro will replace
the local currency in consenting countries for all transactions in
2002

calendar year