France GDP Growth Rate

Last Release

Mar 31, 2024

Actual

0.2

Units In

0.1

Frequency

Quarterly

Next Release

Aug 30, 2024

Time to Release

2 Months 29 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
18.6 Sep 2020	-13.5 Jun 2020	0.75 %	1949-2024	N/A

France is the seventh largest economy in the world and the second largest in the Euro Area. the biggest sector of the economy is household consumption (55 percent) followed by government expenditure (24 percent) and gross fixed capital formation (22 percent). Exports of goods and services account for 29 percent of GDP while imports account for 31 percent, subtracting 2 percent from total GDP.

Latest Updates

The French economy expanded by 0.2% quarter-on-quarter in the Q1 of 2024, aligning with initial estimates and above the previous period’s 0.1% growth. The slight upturn was supported by the further increase in government spending (0.6% vs 0.4% in Q4), and the positive contribution from net trade, as exports rose 1.2% (vs 1%) and imports grew at a slower 0.4% (vs -1.7%). Meanwhile, growth moderated for household consumption (0.1% vs 0.2%), weighed by a fall in spending on transport equipment (-3.4%), while fixed investments continued to decline (-0.4% vs -1.0%), driven by declines in construction (-1.3%) and capital goods (-1.7%). Also, the contribution of inventory changes to the GDP growth was again negative during the quarter (-0.2 points vs -0.7 points). On an annual basis, the economy advanced 1.1%, the sharpest economic growth in three-quarter periods.