PARIS RGS (RISK GRADING SYSTEM ON LYSCALE )                                                                                                            

 

 

With a 2005 GDP of €478.7 billion (US$595.3 billion), the Paris Region has one of the highest GDPs in Europe, making it an engine of the global economy: were it a country, it would rank as the fourteenth largest economy in the world. The Paris Region is France's premier centre of economic activity: while its population accounted for 18.7% of the total population of metropolitan France in 2005, its GDP was about 28.5% that of metropolitan France. Activity in the Paris urban area is diverse, unlike most of the world's metropoles that tend to have a leading specialised industry (such as Los Angeles with entertainment industries or London and New York with financial industries in addition to other activities). Recently the Paris economy has been shifting towards high value-added service industries (finance, IT services, etc.) and high-tech manufacturing (electronics, optics, aerospace, etc).

The Paris Region's most intense economic activity through the central Hauts-de-Seine département and suburban La Défense business district places Paris' economic centre to the west of the city, in a triangle between the Opéra Garnier, La Défense and the Val de Seine. Paris' administrative borders have little consequences on the limits of its economic activity: although most workers commute from the suburbs to work in the city, many commute from the city to work in the suburbs. At the 1999 census, 47.5% of the 5,089,170 people in employment in the Paris urban area worked in the city of Paris and the Hauts-de-Seine département, while only 31.5% worked exclusively in Paris[citation needed].

Although the Paris economy is largely dominated by services, it remains an important manufacturing powerhouse of Europe, especially in industrial sectors such as automobiles, aeronautics, and electronics. Over recent decades, the local economy has moved towards high value-added activities, in particular business services.

The 1999 census indicated that of the 5,089,170 persons employed in the Paris urban area, 16.5% worked in business services, 13.0% in commerce (retail and wholesale trade), 12.3% in manufacturing, 10.0% in public administrations and defense, 8.7% in health services, 8.2% in transportation and communications, 6.6% in education, and the remaining 24.7% in many other economic sectors. Among the manufacturing sector, the largest employers were the electronic and electrical industry (17.9% of the total manufacturing workforce in 1999) and the publishing and printing industry (14.0% of the total manufacturing workforce), with the remaining 68.1% of the manufacturing workforce distributed among many other industries. Tourism and tourist related services employ 6.2% of Paris' workforce, and 3.6% of all workers within the Paris Region.