France is one of the leading European economies after Germany and France. The country has a significant value in the export of goods and services. The country has shown a significant rise in manufacturing operations, including food & beverage, machinery and equipment, and chemicals. The monetary policy, structural reforms and economic conditions, have encouraged exports and investment in the country. However, global uncertainties and the impacts of social conflicts assessed on activity in 2018. Consumption and growth will benefit from a boost in households’ purchasing power. The GDP growth is expected to stay nearly 1.3% in 2019-20 in France as per OECD. Moreover, France has more than 18,000 companies and over 380,000 employees in the manufacturing sector. The country’s agri-food industry is the major contributor in the country economy with $170 billion revenue in 2017.
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France is facing a major challenge of recession concerning the effect of COVID-19 pandemic. It has affected the whole production capability of the country coupled with a slowdown in global demand, and concerns regarding the availability of raw material. As a result, the manufacturing and other industries in the country have been temporarily shut down their industrial operations. According to the WHO, France recorded 15,821 confirmed cases of COVID-19 till 23, March 2020 and 674 mortalities due to COVID-19 in the country. The fear regarding businesses and employment have rapidly increased since February in France. In France, economic uncertainty be seen to have grown more abruptly than concerns relating to the level of risk posed by the coronavirus.
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Verticals Affected Most
• Automobile
• Food & Beverage
• Chemical
• Energy
• Electronic and Electrical
• Aviation
• Retail
• Travel and Tourism
• Others
Company Profiles
• Carrefour S.A.
• Air France-KLM SA
• Auchan Retail
• Christian Dior SE
• ENGIE Group
• Total SA
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