Houston, Los
Angeles, Miami, New Orleans, New York, and San Francisco

Diplomatic representation from the US:
chief of mission: Ambassador Felix G. ROHATYN
embassy: 2 Avenue Gabriel, 75382 Paris Cedex 08
mailing address: PSC 116, APO AE 09777
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, France matches a growing services sector with a
diversified industrial base and substantial agricultural resources.
Industry generates one-quarter of GDP and more than 80% of export
earnings. 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 its 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. A major exporter of
wheat and dairy products, France is practically self-sufficient in
agriculture. The economy expanded by 3% in 1998, following a 2.3%
gain in 1997. Persistently high unemployment still poses a major
problem for the government. 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. The JOSPIN administration has pledged both to
lower unemployment and trim spending, pinning its hopes for new jobs
on economic growth and on legislation to gradually reduce the
workweek from 39 to 35 hours by 2002. France joined 10 other EU
members to launch the euro on 1 January 1999.

GDP: purchasing power parity--$1.32 trillion (1998 est.)

GDP--real growth rate: 3% (1998 est.)

GDP--per capita: purchasing power parity?$22,600 (1998 est.)

GDP--composition by sector:
agriculture: 2.4%