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mailing address: PSC 116, APO AE 09777
telephone: [33] (1) 43-12-22-22
FAX : [33] (1) 42 66 97 83
consulate(s) general: Marseille, Strasbourg

Flag description: three equal vertical bands of blue (hoist side),
white, and red; known as the French Tricouleur (Tricolor); the design
and colors are similar to a number of other flags, including those of
Belgium, Chad, Ireland, Cote d'Ivoire, and Luxembourg; the official
flag for all French dependent areas

Economy

Economy - overview: One of the four West European trillion-dollar
economies, the French economy features considerable state control over
its capitalistic market system. In running important industrial
segments (railways, airlines, electricity, telecommunications),
administering an exceptionally generous social welfare system, and
staffing an enormous bureaucracy, the state spends about 55% of GDP.
France has substantial agricultural resources and a diversified modern
industrial sector. Large tracts of fertile land, the application of
modern technology, and subsidies have combined to make it the leading
agricultural producer in Western Europe. Largely self-sufficient in
agricultural products, France is a major exporter of wheat and dairy
products. The industrial sector generates about one-quarter of GDP,
and the growing services sector has become crucial to the economy.
Following stagnation and recession in 1991-93, French GDP expanded
2.4% in 1994 and in 1995 but at only 1.3% in 1996. Persistently high
unemployment still poses a major problem for the government, as will
the need to cut back on government spending to keep the economy
internationally competitive and enable France to qualify for European
Economic and Monetary Union, slated to introduce a common European
currency in January 1999. The government also has laid plans to sell
off much of its stake in the telecommunications and defense industries
in 1997 as part of its bid to make domestic companies more competitive
with foreign rivals. However, the socialist victory at the polls in
June 1997 casts doubt on France's future policy toward economic union
and privatization of domestic economic activity.

GDP: purchasing power parity - $1.22 trillion (1996 est.)

GDP - real growth rate: 1.3% (1996 est.)

GDP - per capita: purchasing power parity - $20,900 (1996 est.)

GDP - composition by sector:
agriculture: 2.4%
industry: 26.5%
services: 71.1% (1994)

Inflation rate - consumer price index: 1.7