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France: Selected Issues Paper
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2013: Issue 252
Language:
English
Publication Date:
05 Aug 2013
DOI:
https://doi.org/10.5089/9781484389133.002
ISBN:
9781484389133
ISSN:
1934-7685
Pages:
84
Keywords:
ISCR; CR; potential GDP; France; spending; Potential GDP growth; potential GDP estimate; wage bill; expenditure ratio; CA method; France firm Peer comparison; D. Potential GDP; Fiscal consolidation; Total factor productivity; Exports; Current account; Global; Europe
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This Selected Issues paper examines external developments and competitiveness in France. Over the past decade, the current account has deteriorated from a surplus of 1.2 percent of GDP in 2002 to a deficit of about 2.3 percent in 2012, as France lost ground in goods trade and services recorded just a slight increase in global market shares. The slight improvement of the trade deficit seen in 2012 may suggest a change in trend, although it is still too early to determine. Past deterioration in export performance points to competitiveness weaknesses, rooted in significant rigidities in labor and product markets.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund