⇒Inflation rate: +0,3% (July 2015)
⇒Exportations towards New Zealand: 497 million euros
⇒Importations from New Zealand: 397 million euros
Economy of France
France is one of the world's main economic power, 5th in 2011 in term of GDP and it is the second economic power in Europe. Its growth is mainly based on its domestic market that keeps on expanding but which also getting older. France is the world leader in some sectors such as the primary sector, luxury industry, aeronautic, tourism.
France’s GDP breakdown:
⇒Secondary sector: 20%
⇒Tertiary sector: 78%
France is currently facing huge challenges in the euro area and has also to deal with its important public debt (around 86% of its GDP in 2011) and deficit (5,4% in 2011). But this dark picture of France has to be softened by its important private savings, the most important amount in Europe. Besides, France is – with Ireland- the only European country that has a birth rate around 2,1 per woman and thanks to international immigration the population is actually growing.
More important, France is the world leader in some domains: it welcomed almost 80 million tourists in 2011. French leading sectors are today forecasting blue skies ahead notably luxury industry (LVMH, Dior, Chanel, etc.) and aeronautic (Airbus).
Bilateral trade between France and New Zealand
The fall of the French exportation towards New Zealand in 2010 revealed itself to be a parenthesis in the economic ties between the two countries. Actually the importation of French goods in New Zealand in 2011 raised by 60% while its exportation towards France diminished by 7%. Hence the commercial balance between the two countries is very positive for France (around 340 million euros).
3 French leading sectors
France was in 2011 the most visited country in the world, with around 80 million tourists, before Spain and the USA. This industry is very profitable for France, it amounts for 6% of French GDP. But this industry is also very important abroad with big companies such as Accor Hotel Group, a world leader in its sector.
2 Luxury industry
Luxury industry is the main French economic standard bearer abroad. This sector hasn’t been hit by the current crisis and is even expanding, driven by the emerging markets. For instance in 2005 the French companies, such as LVMH, Dior or Chanel, represented 36% of the world luxury market, according to a survey made by “Eurostaf”.
This sector is the most important of the French industry with a turnover in 2009 of 150 billion euros and with world leading companies like Danone or Lactalis. It represents the French way of life, the French gastronomy (declared in 2010 by the UNESCO as a “world intangible heritage”).