0:02 19 January 2022
Post by: WBJ

Ambassadors’ Corner (December2021 5)

Frédéric Billet, a French Ambassador, tells WBJ about the 2022 growth forecast, popularity of e-vehicles, and electricity generation in his country

Ambassadors’ Corner (December2021 5)

What’s the growth forecast for your country for 2022 and which industries are expected to do well in the coming year?

While the GDP is already back to its pre-crisis level, economic growth in France will continue next year. After 6.25% in 2021, the growth rate is expected to reach 4%. The industry will sustain economic growth, as suggested by the high level of orders.  The automobile industry, currently slowed by semiconductor shortages, is expected to improve next year as shortages will progressively resolve. At the same time, the chemical, pharmaceutical and agro-food industries are showing good momentum and the construction sector should perform well, supported by a slowdown in construction costs.

How popular are e-vehicles/e-cars in your country and which vehicle/car brands are the most sought after?

The development of electric cars is very dynamic in France, as sales reach a new high every year. The number of electric cars sold over January-October 2021, standing at almost 125,000, is already three times higher than sales recorded in 2019! The development of the sector is supported by the government, which has implemented financial support for households to help them finance the purchase of an electric car. At the same time, the deployment of charging stations is accelerating. French brands are still the most popular ones, as shown by the omnipresence of vehicles produced by Renault, Peugeot, and Citroën among the best sellers on the national market.

How’s electricity produced in your country and what are the major sources (including renewable and non-renewable)?

Electricity production in France is widely carbon-free thanks to the large share of nuclear energy and the sustained development of renewable energies. Nuclear energy accounts for around 67-70% of electricity production, while renewable energies represent 20-24% (including 10% hydro and 7% wind power). Consequently, the share of fossil fuels, composed almost exclusively of gas, is small, standing at around 8%.

frédéric billet
2022 growth forecast

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