The Midi-Pyrénées region was ranked 8th in France in 2013 in terms of GDP, with a GDP of €84,7 b (4.1% of France’s GDP). GDP per capita was €26,100 in 2013 . Between 2009 and 2013, the regional GDP grew from 10%, above the national growth (9%). The region ranked 1st in terms of GDP growth rate between 2000 and 2010 among French regions.
In 2011, the Region accounted for 4.6% of national employment. The unemployment rate of the region was 8.7% in 2014, behind the national rate of 10.5% and the european rate of 9%. The long-term unemployment rate is also lower than at the national and European level (3.29%, in comparison with about 4% at the national level and 5% at the EU level).
Midi-Pyrénées is ranked third among French regions in terms of export: exports represented €36.1b in 2010, i.e. 9.4% of the national exports. However, exports are based on a limited number of economic sectors and companies. Midi-Pyrénées also performs well in terms of attracting international investments, and is ranked 4th among French regions. Midi-Pyrénées performs better than other French and EU regions in average in terms of competitiveness.
Like most other French regions, Midi-Pyrénées economic dynamic has changed in the past decade:
- The regional economy has shifted from traditional economic sector (agriculture, textile) to more value-added sectors (knowledge-based economy);
- Services represent around 74% of the emploment. Between 1999 and 2009, the number of jobs in the service sector grew by 25%.
- The construction sector has been facing difficulties since the financial crisis of 2008-2009, but is still an important job provider. It represents 17% of private companies in Midi-Pyrénées in 2014.
The share of employment in agriculture is 4%, above the national share (3%), but behind the EU share (5%). The share of employment in industry is lower than at the national and EU levels (21,8%, against 22,8% and 24%), with 5,2% of the employment in high-tech sectors in 2014 (Eurostats).
The region hosts three competitiveness clusters, in the fields of aerospace (Aerospace Valley), health (Cancer-Bio-Santé) and food (Agri Sud-Ouest Innovation).