Why the French Economy is Surging Ahead - A Deep Dive Analysis

It is no secret that #France is one of the major #economies in the world, ranking alongside states like the US, Japan, Germany, Italy, and the UK.

It is easy to see why the #country's financial position reflects an extended period of unprecedented economic expansion that lasted during much of the postwar period until the mid-1970s; This period was commonly described as trente glorieuses, meaning "thirty years of glory." So, Let’s start from the ’90s.

So, during the 1960s and 1970s, the gross domestic product #(GDP) of #France increased by an average of nearly 6 percent each year. But as a result of the oil crises of the 1970s, growth rates were considerably moderated, resulting in considerable increases in unemployment. By the end of the 1980s, however, the economy was once again experiencing strong growth. This trend continued, although at a more modest rate, into the 21st century.

In the same post-war period, the economy changed a lot. Agricultural and industry were the main sectors of the economy in the 1950s, but tertiary (mainly service and administrative) activities have since become the main job creators.

Further, while the heavily urbanized and industrialized regions of northern and northeastern France once contributed most to rapid development, this trend reversed in the 1980s after these areas started losing jobs and populations.

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