Impact of COVID-19 on France Economy Analysis, Size, Trends, and Forecast to 2019-2025

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.

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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.

On the basis of industrial operations, France economy is classified into automobile, food & beverage, energy, electronic and electrical, aviation, BFSI, retail, travel and tourism, and others. The energy sector has a significant effect of COVID-19 due to uncertainty in the generation and supply of the power and energy. AS per the French grid operator RTE the nuclear availability to remain 3.6 GW below the 2015 to 2019 average as well expected a national drop in nuclear demand due to the COVID-19 pandemic in the country. Moreover, the COVID-19 outbreak would result in the delay in the development of the new wind farm projects that further affect the deployment of the wind farm in the country that further affect the energy sector of the country.

Verticals Affected Most

Automobile
Food & Beverage
Chemical
Energy
Electronic and Electrical
Aviation
Retail
Travel and Tourism
Others

Company Profiles

Associated British Foods plc
Aviva plc
BAE Systems plc
Bentley Motors Ltd.
British Airways Plc
Dyson Ltd.
J Sainsbury plc
Joseph Cyril Bamford Excavators Ltd. (JCB)
Rolls-Royce Holdings plc
Royal Bank of Scotland Group plc

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