With a GDP of US$2.6 trillion, France is the sixth largest economy in the world and holds a strategic position in the centre of Europe. One of the founding members of the Eurogroup, it is the second most populous Member State, holding a revered place in the EU.
France ranks 32 out of 190 countries in the World Bank’s Ease of Doing Business Index and is a country of services. This sector contributes nearly 70% of GDP and employs three quarters of the population according to the World Bank. The Industry sector, especially manufacturing, accounts for 20% of the country’s wealth, highlighting the telecommunications, electronics, automotive and aerospace sectors.
France is pro-business with a sophisticated financial market, and its overseas territories can help ease access to the Caribbean and South America. It’s main economic sectors include real estate, electronic products, finance and insurance, pharmaceuticals, agrifood and tourism.
On the other hand, France has one of the most expensive workforces and the highest taxes in the EU. Since January 2019, companies are obliged to withhold personal income tax on salaries, payments to professionals or rents. Working with experienced and knowledgeable partners will be vital when expanding or investing in France.