In Q4 2021, value added for all branches of the French economy exceeded its pre-health crisis level (Q4 2019) by almost 1%. This was not yet the case for France’s main neighbours. This Focus breaks down these disparities between countries, in an attempt to fi nd the right balance between what is the result of diff erences in sectoral structure and what comes from dynamics specifi c to each economy – nevertheless, this division depends basically on the granularity of the analysis.