France PESTLE Insights – A Macroeconomic Outlook Report

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According to GlobalData estimates, financial intermediation, real estate and business activities contributed 29.8% towards GVA, followed by wholesale, retail and hotels activities (14.9%), and mining, manufacturing and utilities (14.0%) in 2022. The three sectors are forecast to grow by 4.1%, 4.2%, and 4.8%, respectively, in 2023.

Four major regions of France generated around 57% of the country’s GDP in 2021 and were home to 48.1% of the country’s population in 2022, according to Eurostat


In February 2023, France announced a plan to invest EUR100 billion ($105.4 billion) to extend and upgrade rail transport by 2040.

Key Highlights

The CAC Index exhibited an upward trend over past year. As of June 26, 2023, the Index stood at 7,180.3, compared to 6,073.4 on June 26, 2022.

Reasons to Buy

Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.

PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations

Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.

This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.

BNP Paribas

Table of Contents

List of Exhibits

Did You Know?

Country Highlights

Key Economic Updates

Country Snapshot

Political Landscape

Economic Landscape

Social Landscape

Technological Landscape

Legal Landscape

Environmental Landscape



Exhibit 1: Frances’ performance in country risk analysis in comparison to West Europe and World average

Exhibit 2: Performance overview (score: 1–100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: France’s Stock Exchange Index – CAC Index (June 2022 – June 2023)

Exhibit 5: France exchange rate (June 2022 – June 2023)

Exhibit 6: Key sectors’ contribution to the economy

Exhibit 7: FDI flows and FDI income (Q1 2021–Q4 2022)

Exhibit 8: Jobs and projects share in total FDI by sector and top five investing countries share in total (2022)

Exhibit 9: Key infrastructure indicators

Exhibit 10: Real GDP and household consumption growth rate (2018–25f)

Exhibit 11: Real GDP growth rate comparison (2022e)

Exhibit 12: Exports and imports growth (2018–25f)

Exhibit 13: Current account balance (2018–25f)

Exhibit 14: Top three commodity exports, % of total exports (2019–22)

Exhibit 15: Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof, % share of the world’s total (2022)

Exhibit 16: Interest rates (June 2018 – June 2023)

Exhibit 17: Exchange rate and inflation (2018–25f)

Exhibit 18: General government net lending/borrowing (2018–25f)

Exhibit 19: General government debt (2018–25f)

Exhibit 20: Employed population and unemployment rate (2018–25f)

Exhibit 21: Average annual wages (2018–25f)

Exhibit 22: Labor index cost (2018–25f)

Exhibit 23: Rural-urban share of total population (1995, 2005, 2015, 2025)

Exhibit 24: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 25: Gender split (1995, 2005, 2015, 2025)

Exhibit 26: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2022)

Exhibit 27: Number of patents granted per million population (2021)

Exhibit 28: High technology exports, % of manufactured exports (2021)

Exhibit 29: Rule of law (rankings), 2022

Exhibit 30: Corruption perceptions index (rankings) (2022)

Exhibit 31: Renewable energy capacity (2018–22)

Exhibit 32: CO2 emissions (2018–22)


List of Figures

Exhibit 1: France’s Performance in Country Risk Analysis in Comparison to Eastern Europe and the World

Exhibit 2: Performance Overview (Score: 1-100)

Exhibit 3: Broad Categories and Weights behind the Index

Exhibit 4: CAC Index

Exhibit 5: Key Sectors Contribution to the Economy (2016-2023f)

Exhibit 6: Net FDI inflows (2018-2020) and FDI Projects by Sectors (2019-2020)

Exhibit 7: FDI Projects by Country (2019-2020) and Number of Jobs Created in France by Country (2019-2020)

Exhibit 8: Key Infrastructure Indicators (2019)

Exhibit 9: Real GDP and Household Consumption Growth Rate (2016-2023f)

Exhibit 10: Real GDP Growth Rate Comparison (2020e)

Exhibit 11: Export, Import and Trade Balance (2016-2023f)

Exhibit 12: Current Account Balance (2016-2023f)

Exhibit 13: Top Three Commodity Exports, % of Total Exports, 2016-2019

Exhibit 14: Aircraft exports, % of total World exports of aircrafts, 2019

Exhibit 15: Interest Rates (April 2020- April 2021)

Exhibit 16: Exchange Rate (2016-2023f)

Exhibit 17: General Government Deficit (2016-2023f)

Exhibit 18: General Government Debt (2016-2023f)

Exhibit 19: Unemployment Rate (2016-2023f)

Exhibit 20: Average annual wages (2016-2019)

Exhibit 21: Labor Cost Index (2016-2019)

Exhibit 22: Rural/Urban Share in Total Population (2005, 2015, 2025)

Exhibit 23: Age-group Share of Total Population (2005, 2015, 2025)

Exhibit 24: Gender Split (2005, 2015, 2025)

Exhibit 25: Internet Users % of Total Population, Mobile Penetration Rate and Broadband Penetration Rate, 2020

Exhibit 26: Number of Patents Granted Per million Population, 2020

Exhibit 27: High-technology Exports (% of manufactured exports) (2019)

Exhibit 28: Doing Business in France 2020

Exhibit 29: Corruption Perception Index (Rankings) 2020

Exhibit 30: CO2 Emissions (2016-2019)

Frequently asked questions

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