Economy of France

The economy of France is a highly developed social market economy with notable state participation in strategic sectors. It is the world's seventh-largest economy by nominal GDP and the tenth-largest economy by PPP, constituting around 4% of world GDP. Due to a volatile currency exchange rate, France's GDP as measured in dollars fluctuates sharply. France has a diversified economy, that is dominated by the service sector (which in 2017 represented 78.8% of its GDP), whilst the industrial sector accounted for 19.5% of its GDP and the primary sector accounted for the remaining 1.7%. France was in 2020 the largest Foreign Direct Investment recipient in Europe, and Europe's second largest spender in research and development. It was ranked among the 10 most innovative countries in the world by the 2020 Bloomberg Innovation Index, as well as the 15th most competitive nation globally, according to the 2019 Global Competitiveness Report (up 2 notches compared to 2018). It was the fifth-largest trading nation in the world (and second in Europe after Germany). France is also the most visited destination in the world, as well the European Union's leading agricultural power. According to the International Monetary Fund (IMF), in 2022, France was the world's 26th country by GDP per capita with $44,747 per inhabitant. In 2021, France was listed on the United Nations's Human Development Index with a value of 0.903 (indicating very high human development) and 22nd on the Corruption Perceptions Index in 2021. Paris is a leading global city, and has one of the largest city GDP in the world. It ranks as the first city in Europe (and 3rd worldwide) by the number of companies classified in Fortune'''s Fortune Global 500. Paris produced US$738 billion (or US$882 billion at market exchange rates) or around 1/3 of the French economy in 2018 while the economy of the Paris metropolitan area—the largest in Europe with London—generates around 1/3 of France's GDP or around$1.0 trillion. Paris has been ranked as the 2nd most attractive global city in the world in 2019 by KPMG.