The Gross Value Added (GVA) in the financial service activities in France demonstrated notable fluctuations between 2013 and 2023. The data shows an initial rise from 56.19 billion Euros in 2013 to a peak of 60.05 billion Euros in 2014, followed by a gradual decline, hitting a low of 50.06 billion Euros in 2020. From 2021 onwards, there is a modest recovery trend, culminating in 53.35 billion Euros in 2023. Expressed in volume or value, it stood at 53.35 billion Euros in 2023.
Notable trends include:
- A sharp year-on-year decline of 12.56% in 2017. - A recovery phase beginning in 2021 with a 6.3% increase. - A stable yet slow growth trajectory from 2022 to 2023, with year-on-year variations of 0.11% and 0.14%, respectively.
From a longer-term perspective, the 5-year Compound Annual Growth Rate (CAGR) until 2023 is 0.62%, indicating mild growth. Forecasted data from 2024 to 2028 suggests a continued slow upward trend, with an average CAGR of 0.11% and a forecast 5-year growth rate of 0.55%.
Future trends to watch for include:
- Digital transformation in financial services, driven by fintech innovation. - Regulatory changes impacting banking and financial services operations. - The short-to-medium term macroeconomic impacts of post-pandemic recovery and geopolitical tensions on financial markets.
