Insee Analyses · December 2025 · n° 115

Overview of the productive system in 2023 Profit margins rates rose more sharply in the largest companies compared to 2015, while their dispersion increased across all size categories

In 2023, nearly 5.2 million businesses belonged to the non‑agricultural and non‑financial market sectors in France, the vast majority of which were micro‑enterprises (97%). The French economy was highly concentrated: less than 0.2% of companies (the largest ones) generated nearly two‑thirds of the turnover, investment and more than half of the salaried employment. Small and medium‑sized enterprises and micro‑enterprises had a greater impact on local employment and local services. Exports were mainly concentrated in the industrial sectors. In manufacturing, 43% of the turnover was destined for export, a figure rising to over 70% for certain sectors such as the aeronautics, rail, and shipbuilding industries, as well as the pharmaceutical industry.

In 2023, the accounting value added of businesses increased in value for just over half of businesses, while inflation remained high in 2023. Profit margin rates increased more significantly in large and medium‑sized businesses. The investment rate gap between small and medium‑sized enterprises and large enterprises continued to widen. Cash flows gradually eroded after a sharp increase thanks to the aid allocated during the health crisis. While financial autonomy improved in 2023 and remained above its 2015 level, median economic profitability had reached its lowest level since 2015.