France non-financial corporation outstanding debt
France non-financial corporation outstanding debt stood at 2,268.62 EUR billion in Q1 2026, according to Banque de France – Webstat (webstat.banque-france.fr). It is one of the indicators in the Corporate and financial sector accounts table (Value · Quarterly), with a complete series running from Q1 1999 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Corporate and financial sector accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Outstanding debt2 | 2,268.62 | 2,252.6 | 2,242.75 | 2,206.16 | 2,194.79 | 2,200.77 | 2,191.89 | 2,187.02 | 2,162.17 | 2,169.13 | |
| Loans | 1,528.28 | 1,518.23 | 1,510.64 | 1,488.52 | 1,483.08 | 1,484.05 | 1,479.5 | 1,468.04 | 1,460.03 | 1,462.61 | |
| Debt securities at nominal value | 740.34 | 734.37 | 732.11 | 717.65 | 711.7 | 716.72 | 712.4 | 718.98 | 702.14 | 706.53 |
Understanding france non-financial corporation outstanding debt
Outstanding debt for non-financial corporations aggregates all cumulative financial liabilities that require future repayment of principal or interest, specifically encompassing loans, debt securities, and trade credits owed by productive enterprises. This metric measures the total nominal face value of borrowed funds accumulated over time, differing from net liability flows by presenting the total stock position rather than incremental quarterly changes. Intra-group lending and equity liabilities are omitted to isolate genuine external debt obligations owed to banks, bondholders, and commercial suppliers. The measure provides a structural view of corporate leverage across the institutional sector.
Interpreting the debt stock requires evaluating concurrent macroeconomic variables such as output levels or interest rate environments to judge debt sustainability accurately. Revisions to historical debt figures can occur when reporting thresholds are updated or when statistical reclassifications move entities between financial and non-financial sectors. Analysts should rely on longer-term structural comparisons rather than immediate quarter-on-quarter changes, because debt stocks adjust slowly due to the prevalence of medium and long-term loan contracts.
Frequently asked questions
- Which types of liabilities are counted in non-financial corporation outstanding debt?
- Loans from financial institutions, issued debt securities, and trade payables are included, while equity and financial derivatives are excluded.
- How does this outstanding debt series differ from net liability flows?
- Outstanding debt measures the total cumulative stock of accumulated obligations at a specific point in time, whereas flows measure only the net transactions executed during a single quarter.
- Are debts owed between companies within the same corporate group included?
- Intra-sector and intra-group loans are typically consolidated or excluded to prevent double counting of liabilities within the non-financial sector.