Economic Status of France (Coursework Sample)

Economic Status of the France Republic
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The economic status of an economy is indicated by a wide range of parameters. This emanates from different scope and aspects of the economy. To actually define and locate the status of an economy, different parameters have to be considered in diverse perspectives. An examination of French Republic economic status has been explored in this study to illustrate how various parameters indicate the economic status of an economy.
France Republic economy is among the strongest in the world. Its position is illustrated by the presence of various industries. As denoted by Baumohl (2012), “ The economy of France is among the leading in various industries such as automotive, aerospace, railway sector, pharmaceuticals, telecoms and power generations” (p.17). These industries have helped the country gain as strong economic status. Levels of graduates in the industry have helped the country sustain its labor force requirements. Additionally, the freedom of operation of businesses in the country have also bolstered growth of the economy in various aspects. To that effect, huge businesses have been opened in huge cities of the country propelling growth of the economy.
To ascertain position of the economy of the Republic of France, we shall look on various parameters that determines the economy. The economy parameters indicated below denotes the condition as per the year 2014. France Republic has a national Gross Domestic product as $ 2.902 trillion. Going by that figure, France was ranked 6th globally. France has a total population of 64.3 million. This renders the GDP per Capita to be $ 41,114. The GDP real growth is 0.9% from the preceding year (World Bank Group, 2012). The GDP categorized by sector indicates that agriculture has a 1.9%, industry sector has 18.3% while services has 79.8%. Inflation rate was 0.7% decrease from the previous year. Despite much anticipated growth of the economy, unemployment rate stands at 10.3%, which is an increase from 8.5% of the total population.
The indicators outlined above give an insight of the current position of the economy. France real GDP has been at par with other top countries. However, the real GDP contracted in 2009. Since then, GDP has been recovering slowly. As the case with GDP, GDP per capita also declined from 2009. Its trajectory recovery is yet to be achieved due to ever-enlarging population. Unemployment remains a major issue to be tackled in France. It has sharply increased from 7.4 % of the total population to 10.6% in 2013. But signs of hope are imminent since a drop to 10.2% in 2015. Youth unemployment takes the largest share with 24.2 % of youths being unemployed (World Bank Group, 2012).
The economic indicators stipulated above can be used to predict about the future of the France economy. The real GDP of the country is expected to shoot up in the next years. This is due to expanding industries, innovative agricultural production and extended services provision.
Other parameters that can be used to gauge the economic status of France can be attributed to life expectancy which currently stands at 82.57 years as per the year 2012. The parameter is an indication of better life and terms of living. The factor makes it to be the leading country. Literacy levels in the country stands...