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France Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
67 106 161GDP (PPP)
$2.826 trillion (2017 est.)Second largest economy in Europe after Germany
GDP growth rate
1.6% (2017 est.)Low, although it has accelerated after years of very low growth
GDP (PPP) per capita
$43,600 (2017 est.)High
Local currency
Euro (EUR)Second most important currency in the world after the USD
Financial stability (Public debt)
96.1% of GDP (2017 est.)High, however under control and slightly declining from the previous year (total public debt including subnational entities is included)
Inflation
1.2% (2017 est.)Low, although it has accelerated from very low levels in the previous years
Language
FrenchEnglish spoken only in Paris and other main urban areas
Corruption perception index (Source: Transparency International)
23/180Low to medium level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
20% normal VAT rate under the rules of the EU system Three reduced rates apply: 10% (certain medicines), 5% (food products), 2.1% (other specific sales)
Corporate Tax
33.33% standard corporate tax rate (The standard rate will be reduced progressively down to 25% in 2022)
Duties
The import of goods from outside the EU is subject to custom duties according to the EU custom regulations
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