France
The light green area is the rest of the European Union
France is the world's 6th largest economy (20180 in nominal figures and the third largest in Europe after Germany and the United Kingdom. It has a GDP per capita of $41,463 USD which is above the average for the OECD and EU. It has a high level of education and health and is ranked 22nd in the Human Capital Index. The OECD is headquartered in Paris. France has a diversified economy. Services are the biggest contributor to GDP (70 percent in 2018), followed by manufacturing (9.7 percent). Services are also the biggest export led by ICT (18.3 per cent in 2017). France's tourism industry is a major component of the economy, as France is the most visited destination in the world; tourism and travel account for 7.5 percent of exports. Transport services account for 5.5 percent and Insurance and Finance 2.4 percent. Other major exports are aircrafts and parts (7.6 percent) – Airbus is headquartered in France, pharmaceutical products (3.9 percent), cars and parts (2.7 and 1.9 percent), and gas turbines (1.6 percent). France’s major export partners are Germany (14.2 percent), the USA (7.4 percent), Italy (7.28 percent), Spain (7.25 percent), and Belgium (6.8 percent). France’s largest goods imports are industrial machinery (11.8 percent), vehicles and parts (10.2 percent), electrical machinery and equipment (9.4 percent), and crude and refined oil (8.4 percent). Post World War 2, France modernised its economy through state coordination. This programme of dirigisme involved state control of key industries, such as transportation, energy and telecommunications, as well as incentives for private corporations to merge and pursue specified projects. After the 1970s oil shocks, inflation increased, growth decreased, and the Franc came under pressure. In 1983, the Mitterrand government responded with increased fiscal discipline and a new focus for economic policy: corporatisation and liberalisation. The government maintains a strong presence in some sectors, particularly power, public transport, and defence industries. The economy is also characterised by high levels of taxation, welfare, labour protection, and government spending. Post the global financial crisis, public debt rose from the mid-sixties to 99.3 percent of GDP in 2018. Since entering office in May 2017, President Emmanuel Macron has attempted to launch a series of economic reforms to improve competitiveness and boost economic growth.