According to CIA World Factbook, the GDP of France in terms of “official exchange rate” (The World, 2016) in 2015 was “$2.422 trillion” (The World, 2016). In terms of GDP per capita (PPP), in 2015 it was “$41,200” (The World, 2016) .For comparison with past year results, in 2014 GDP per capita in France was “$40,900” (The World, 2016) and in 2013 it was “$41,000” (The World, 2016). Looking at these numbers, it is seen that GDP per capita is quite stable in France. In regards to the United States GDP in terms of “official exchange rate” (The World, 2016) in 2015 it was “$17.95 trillion” (The World, 2016). In regards of American GDP per capita (PPP) in 2015 it was “$55,800” (The World, 2016). For the comparison of the United States past results, in 2014 its GDP per capita was “$54,900” (The World, 2016) and in 2013 it was “$54,000” (The World, 2016). Looking at GDP and GDP per capita results of France and the United States above, both countries have quite a high standard of living, however the United States as the world’s economic power has a higher standard of living compared to France. France has lower production of goods and services as well as a bit weaker performance in terms of economics compared to the United States.
In terms of inflation, the most recent inflation rate in 2015 was “0.1%” (The World, 2016) in France and in the United States it was “0.1%” (The World, 2016) in 2015 as well. The most recent rate of growth in France was “1.1%” (The World, 2016) and in the United States it was “2.4%” (The World, 2016). Comparing France to the United States in terms of the recent growth rate, France shows a weaker growth rate result, the difference is 1.3 percentage between growth rate of France and the United States. There are many factors that explain the lack of economic growth in France compared to the States, such as unemployment of almost ten percent (Thomas, 2016), EU crisis, as well as migration crisis and “volatile energy prices” (Thomas, 2016)
References
The World Factbook: France. (2016). Retrieved August 01, 2016, from https://www.cia.gov/library/publications/the-world-factbook/geos/fr.html
The World Factbook: United States. (2016). Retrieved August 01, 2016, from https://www.cia.gov/library/publications/the-world-factbook/geos/us.html
Thomas, N. (2016, January 12). Fast FT. Retrieved August 01, 2016, from https://next.ft.com/content/49bbb193-263a-31c2-b0d4-987c5ef0031f
