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. 

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.  

Key companies operating in France whose business operations are significantly affected due to COVID-19 include AXA Group, Air France-KLM Group, Auchan Retail, Christian Dior SE, ENGIE Group, Total SA, Saint-Gobain S. A., Schneider Electric SE, Sanofi SA. AS COVID-19 disease is increasing rapidly for this the government of France provide the flexibility in the hundreds of billions worth of loans, delay tax payments and suspend rent and utility bills for smaller firms for economic support for the companies in the country. Moreover, the European Commission announced the approval of the France’s plan to guarantee up to $350 billion in state to aid to ease the economic burden due to COVID-19 outbreak. Therefore, this investment for the support of the country’s economy further provide the companies to overcome the economic effect of coronavirus.  

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on France economy. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effects of COVID-19 on France economy of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the pre and post COVID-19 impact on the France economy.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the France economy.
• Insights about market determinants which are stimulating France economy.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.