France GDP Growth Rate

The Gross Domestic Product (GDP) in France contracted 0.20 percent in the first quarter of 2013 over the previous quarter. Historically, from 1978 until 2013, France GDP Growth Rate averaged 0.46 Percent reaching an all time high of 1.60 Percent in June of 1978 and a record low of -1.60 Percent in December of 2008. France is the fifth largest economy in the world and the second largest in the Euro Area. France has a large and diversified industrial and agricultural base which includes aircraft, military equipment, perfumes, pharmaceuticals, wine, beef and wheat production. France is also the most popular tourist destination in world and welcomes over 80 million foreign visitors per year. As such, the services sector contributes the largest share to global output (79 percent of total GDP). However, in recent years, France has been losing competitiveness and capacity to attract private investment due to rigid labour laws, high taxes and social contributions along with low levels of innovation. As a result, its export oriented industrial base gradually eroded creating a systemic trade deficit and increasing unemployment. This page includes a chart with historical data for France GDP Growth Rate.

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France GDP Growth Rate
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France Slips Into Shallow Recession in Q1
INSEE, contact@tradingeconomics.com  |  5/15/2013 7:55:22 AM


In Q1 2013, French growth domestic product in volume decreased again: –0.2% after –0.2% in Q4 2012. It is the third decrease in the last four quarters.

Household consumption expenditure was almost stable (–0.1% after 0.0%), meanwhile gross fixed capital formation (GFCF) was still diminishing (–0.9% after –0.8%). Overall, total domestic expenditure (excluding change in inventories) slightly decreased, weighing down GDP growth by –0.1 point.

Exports declined (–0.5% after –0.7%), while imports reached near stability (+0.1% after –1.3%). Therefore, foreign trade balance weighed down GDP (–0.2 point, after +0.2 point). Conversely, changes in inventories contributed positively to GDP: +0.1 point, after –0.3 point in Q4 2012.

In Q1 2013, output of in goods and services almost stabilized (–0.1% after –0.4%). Production in manufactured goods slowly decreased (–0.3% after –2.2%): output in transport equipment (–2.1% after –5.4%), and food products (–1.1% after –0.1%) sharply diminished whereas output in coke and refined petroleum upturned (+5.6% after –8.0%). Output in tradable services was flat (0.0% after +0.1%), but construction output went down again (–0.8% after –0.9%).

In Q1 2013, household consumption expenditure was almost flat (–0.1% after 0.0%) despite a rebound in energy, water and waste (+5.0% after –0.4%) due to a cold winter. Conversely, expenditure on manufactured goods was weakening (–0.9% after +0.1%), especially car purchases (–5.8% after 0.0%). Moreover, consumption of services remained sluggish (–0.1% after +0.2%).

ARCHIVE
France Economy Contracts 0.3% in Q4 In 2012 Q4, French gross domestic product in volume stepped back 0.3 percent, after +0.2 percent the previous quarter. Over the year, GDP growth was null in 2012, after +1.7 percent in 2011. 2013-03-27
French Gross Domesic Product Revised Down to 0.1 Percent GDP growth estimation in Q3 is revised by 0.1 percentage point from a previously estimated growth of 0.2%. This is due to the integration of data released since then. In particular, transport production is now valued with the integration of the road freight transport indicator. Besides, gross fixed capital formation and consumption in services are overall a little less dynamic with the integration of the turnover indices for September. 2012-12-28
France GDP Contracts 0.3 Percent in Q4 In the last quarter of 2012, French gross domestic product in volume stepped back (–0.3 percent), after +0.1 percent the previous quarter. Over the year, GDP growth was null in 2012, after +1.7 percent in 2011. 2013-02-14
French Gross Domestic Product Rises 0.2% in Q3 In Q3 of 2012, French gross domestic product (GDP) in volume terms increased by 0.2% after a 0.1% decrease over the previous quarter. 2012-12-11



GDP Growth Rate | Notes

The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.






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