Market services in 2025

Despite a slowdown in economic activity, market services remain the main driver of GDP growth

In 2025, growth in the value added (VA) of non-financial market services slows in volume terms (+1,3%, following +2,1% in 2024). It nevertheless remains the main driver of economic growth. After three years of growth, the share of market services in the French economy stabilises at a high level (36,8% in value terms, following 36,9%).

In most market services sectors, output slows in 2025, against a backdrop of weaker household consumption and lower intermediate consumption by businesses and public administrations. Market services in the arts, entertainment and recreation sectors mark time after the 2024 Olympic and Paralympic Games. Conversely, real estate services are accelerating, supported by the market recovery against a backdrop of falling interest rates and more relaxed credit conditions.

Growth in foreign trade continues, albeit with a sharp slowdown in exports whilst imports maintain their momentum. The external balance for market services is declining, driven in particular by the widening deficit in information and communication services, but remains largely in surplus (+€11,8 billion).