Insee Analyses · December 2024 · n° 101

Overview of the productive system in 2022 Rising industrial turnover against a backdrop of high inflation

In 2022, more than 4.9 million businesses belonged to the non-agricultural and non‑financial market sectors. Two-thirds of total turnover were generated by just over 7,500 large and medium-sized companies. Much more numerous, SMEs and micro‑businesses accounted for the final third, and were better represented in the presential sphere, in direct contact with local markets and the population.

Against a backdrop of inflation, turnover rose sharply in 2022, by 15.8% in current euros. This increase was particularly strong in industry (+21.8%). At the same time, companies' book value added rose sharply in current euros (+7.5%), but at a slower pace than turnover, due to a surge in intermediate consumption linked to the cost of energy and other inputs.

Gross operating surplus grew at half the rate of value added (+3.7%), resulting in a lower margin rate of 27.9% in 2022, compared with 28.6% in 2021. Against the backdrop of post‑health crisis recovery, personnel costs continued to rise strongly in 2022 (+7.3%). The investment rate fell slightly in 2022 (-0.3 points), despite an increase in industry (+2.3 points) and among medium-sized companies (+1.2 points).

Finally, the financial situation of SMEs deteriorated slightly in 2022 compared to 2021.