Market Services Account 2023 – Insee Premiere

Growth in market services in 2023 is more modest than in 2021 and 2022. The total volume of value added (VA) increases by 2.5%. This increase is lower than in agriculture and industry-construction (both branches +4.9%), but higher than in trade-transport-financial services, where VA falls sharply (-1.9%). Even so, after three years of contraction, the share of market services in the economy’s value added rises again, reaching 35.8% of GDP in 2023. Investment in market services comes to an abrupt halt after two years of growth, mainly due to the crisis in the housing market. Household consumption of services continues to grow (+3.0%), but at a more moderate pace than in previous years. Foreign trade has continued to grow since 2020, but the surplus has fallen to almost €3.6 billion, the lowest level since 2019.