economies, the French economy features considerable - albeit
diminishing - state control over its capitalistic market system. In
running important industrial segments (railways, airlines,
electricity, telecommunications), administrating 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. Persistently
high unemployment still poses a major problem for the government, as
will the need to cut back on welfare benefits and bureaucratic
budgets. Paris remains committed to maintaining the franc-deutsche
mark parity, which has kept French interest rates high at the
expense of jobs. Although the pace of economic and financial
integration within the European Union has slowed down, integration
will remain a major force in France, shaping the fortunes of the
various economic sectors over the next few years.

GDP: purchasing power parity - $1.173 trillion (1995 est.)

GDP real growth rate: 2.4% (1995 est.)

GDP per capita: $20,200 (1995 est.)

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

Inflation rate (consumer prices): 1.7% (1995)

Labor force: 24.17 million
by occupation: services 61.5%, industry 31.3%, agriculture 7.2%
(1987)
note: includes Corsica

Unemployment rate: 11.7% (yearend 1995)

Budget:
revenues: $220.5 billion
expenditures: $249.1 billion, including capital expenditures of $47
billion (1993 budget)

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

Industrial production growth rate: 2.6% (1994 est.)

Electricity:
capacity: 105,250,000 kW
production: 447 billion kWh
consumption per capita: 6,149 kWh (1993)

Agriculture: wheat, cereals, sugar beets, potatoes, wine grapes;