The Economy of France

By the 18^th century, France was one of the world’s richest nations. Industrialization began promisingly at the end of the 18^th century, as it did in England. Unlike England and the rest of Europe, however, France failed to maintain the moment of its early industrial start and was still primarily an agricultural nation at the end of the 19^th century. Industry expanded behind protective trade barriers in the early 20^th century, but most growth has occurred since the end of World War II. France now ranks among the world’s most economically advanced nations.

The leading manufacturing industries are metallurgy, mechanical and electrical engineering, chemicals, and textiles. France is one of Europe’s leading producers of steel and aluminum. These and imported metals are fabricated into a wide range of mechanical and electrical equipment marketed throughout the world. A wide range of chemicals, including perfumes, pharmaceuticals, nitric acid, sulfuric acid, and fertilizes, are also produced. The French textile and garment industry has long been known for its high fashion, although in recent years the industry has lost many former markets to lower-priced imports from countries with lower labor costs.

France is the leading agricultural nations of Western Europe, and about 7% of the labour force are engaged in agriculture, forestry, and fishing. Three-fifths of the land area is used for agriculture; about one-third is cultivated; one-quarter is used as meadow and pasture. France is a leading European producer of beef, veal, poultry, and dairy products. Cereals and sugar beets are the most important crops. Wine is the major crop throughout the country, both the wine ordinaire, or everyday wine, of the region and the appellation controlee, or quality-controlled, wines of such regions as Burgundy, Champagne, Bordeaux, and Alsace. Flowers are grown for perfume at Grasse, and a wide variety of fruits and vegetables are raised in the warm Mediterranean region for shipment to northern and central Europe.

Fishing is locally important in the costal areas of Normandy and Brittany, the southern Atlantic coast, and the Mediterranean.

France is one of the leading exporters and importers on the foreign trade market. Most trade is conducted with other members of the European Union.