France's economy shrank by a record 18.9 percent year-on-year in the second quarter of 2020, entering a steep recession, as coronavirus-induced lockdowns hit activity and consumption.

GDP Annual Growth Rate in France averaged 3.04 percent from 1950 until 2020, reaching an all time high of 12.60 percent in the second quarter of 1969 and a record low of -18.90 percent in the second quarter of 2020. 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. France GDP Annual Growth Rate - values, historical data and charts - was last updated on October of 2020. source: INSEE, France

GDP Annual Growth Rate in France is expected to be -10.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in France to stand at 15.10 in 12 months time. In the long-term, the France GDP Annual Growth Rate is projected to trend around 2.70 percent in 2021 and 1.90 percent in 2022, according to our econometric models.

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France GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-18.90 -5.70 12.60 -18.90 1950 - 2020 percent Quarterly
SA

France GDP Last Previous Highest Lowest Unit
GDP Growth Rate -13.80 -5.90 8.00 -13.80 percent [+]
GDP Annual Growth Rate -18.90 -5.70 12.60 -18.90 percent [+]
GDP 2715.52 2787.86 2918.38 62.23 USD Billion [+]
GDP Constant Prices 471276.00 546799.00 582050.00 66592.00 EUR Million [+]
Gross Fixed Capital Formation 106214.00 124850.00 138797.00 11871.00 EUR Million [+]
GDP per capita 44317.40 43720.00 44317.40 12743.90 USD [+]
GDP per capita PPP 46183.50 45561.00 46183.50 33893.60 USD [+]
GDP From Agriculture 7732.00 8147.00 8666.00 2105.00 EUR Million [+]
GDP From Construction 19607.00 24998.00 33610.00 7105.00 EUR Million [+]
GDP From Manufacturing 42726.00 53284.00 58416.00 7643.00 EUR Million [+]
GDP From Services 245409.00 281597.00 298149.00 26341.00 EUR Million [+]
GDP From Transport 16134.00 20571.00 22904.00 1629.00 EUR Million [+]
GDP From Utilities 10134.00 11444.00 15258.00 658.00 EUR Million [+]


France GDP Annual Growth Rate
France is the seventh 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. With at least 82 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. Services are the biggest sector of the economy (79 percent of total GDP) while industry accounts for 19 percent. Agriculture contributes 2 percent to GDP, yet France is the second largest exporter of agricultural products in the world.