National economic wealth in 2014 – Downturn of 1.8%

Sylvain Humbertclaude, division Synthèse générale des comptes, Insee, Fabienne Monteil, direction générale des Statistiques, Banque de France

At the end of 2014, national economic wealth stood at 13,064 billion euros, i.e. 7.5 times the net domestic product for the year. After two years of being almost stable (–0.4% in current euros in 2013 and –0.1% in 2012), it fell back 1.8% in 2014. This decline was the result of the combined effect of the drop in real estate prices and a deterioration in net financial wealth. Household wealth stagnated after two years of modest growth (+0.2% after +1.1% in 2013 and +1.4% in 2012). Non-financial assets, consisting mainly of housing and land, decreased more substantially than in 2013 (–1.2% after -0.7%). Households’ financial assets, however, continued to increase, but were less dynamic despite the continued flow of significant investments. In 2014, the equity of non-financial companies slowed (+2.6% after +7.9%) linked with a lower rate of increase of share prices and a drop in the price of non-financial assets. Lastly, there was a surge in general government liabilities due to the increase in market value of bonds.

Insee Première
No 1578
Paru le : 18/12/2015