Insee Première · May 2023 · n° 1950

National French accounts in 2022 Economic activity completed its rebound, as prices strongly increased

In 2022, economic activity completed its rebound initiated in 2021: real GDP increased by 2.5% after +6.4% in 2021 and -7.5% in 2020. This increase was mainly due to an overhang effect, with weak growth throughout the year but an average level higher than in 2021, a year that was still heavily affected by the health crisis in the first half. The year 2022 was also marked by a sharp rise in prices, largely due to a rise in energy prices.

Households gross disposable income accelerated in current euros, but less than consumption prices, so that average purchasing power (per consumption unit) fell slightly (-0.3% after +2.1%) The margin rate of non-financial corporations decreased with the end of the support measures linked to the health crisis, and went back to a level close to that of the pre-crisis period. The national borrowing requirement deepened by 2.5 GDP points, and reached 3.7% of 2022 GDP (€97.6bn), mainly due to a deterioration of the foreign trade balance.