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||1950 - 2015
France is the fifth largest economy in the world and the second largest in the Euro Area. The international financial crisis of 2008 and subsequent global economic downturn led to a sharp but brief recession. French GDP contracted by 2.9 percent in 2009 but saw positive growth in the following years. However, the growth has been weak since 2012 and two years later it was expanding only by 0.2 percent, as fixed investment struggles to recover. Meanwhile, the budget deficit has been declining slowly reaching a 6-year low of 4 percent of GDP in 2014, while France's public debt rose from 68 percent of GDP in 2007 to nearly 96 percent in 2014. Given that, the country is now committed to bring its budget deficit to below 3 percent of GDP until 2017 by reinforcing its fiscal adjustment, as France’s lack of competitiveness is considered to be the major issue for the economy. Overall, household consumption is the main component of GDP and accounts for 55 percent of its total use, followed by government expenditure (24 percent) and gross fixed capital formation (22 percent). On the production side, services are the biggest sector of the economy and account for 79 percent of total GDP, while industry accounts for 19 percent and agriculture contributes with 2 percent to GDP. Yet, France is the second largest exporter of agricultural products in the world. This page provides the latest reported value for - France GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Content for - France GDP Annual Growth Rate - was last refreshed on Sunday, October 4, 2015.