Benin | Gross capital formation (current US$)

Gross capital formation (formerly gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and "work in progress." According to the 1993 SNA, net acquisitions of valuables are also considered capital formation. Data are in current U.S. dollars. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on capital formation may be estimated from direct surveys of enterprises and administrative records or based on the commodity flow method using data from production, trade, and construction activities. The quality of data on government fixed capital formation depends on the quality of government accounting systems (which tend to be weak in developing countries). Measures of fixed capital formation by households and corporations - particularly capital outlays by small, unincorporated enterprises - are usually unreliable. Estimates of changes in inventories are rarely complete but usually include the most important activities or commodities. In some countries these estimates are derived as a composite residual along with household final consumption expenditure. According to national accounts conventions, adjustments should be made for appreciation of the value of inventory holdings due to price changes, but this is not always done. In highly inflationary economies this element can be substantial. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
Republic of Benin
Records
63
Source
Benin | Gross capital formation (current US$)
1960 25842781.010539
1961 25835931.9283
1962 26266058.72988
1963 29498346.826657
1964 26264629.478825
1965 25446733.586676
1966 26591671.128224
1967 36211245.259561
1968 40381362.699481
1969 41883272.268817
1970 38675392.819438
1971 34464417.516819
1972 54835259.390035
1973 65952057.888785
1974 101119770.55634
1975 130650091.52506
1976 116300241.25416
1977 133140842.8569
1978 149209511.33288
1979 225646996.22197
1980 212987950.96383
1981 202405713.04051
1982 349962909.86587
1983 189730903.49096
1984 134338267.08116
1985 93486448.826186
1986 179898717.5223
1987 201972099.15511
1988 253296806.8545
1989 177528296.52874
1990 275578111.11439
1991 287597351.96702
1992 230920741.34348
1993 365251641.8845
1994 284492910.70117
1995 464729080.80451
1996 414403514.02495
1997 420653283.65388
1998 445725933.78501
1999 670282050.83174
2000 563494395.95213
2001 650854247.98027
2002 622177156.20982
2003 811150266.25416
2004 942072805.39933
2005 793769726.1333
2006 905533866.56713
2007 1337834270.3804
2008 1344875896.9957
2009 1447716826.1398
2010 1488285156.7911
2011 1760394154.6558
2012 1701988709.2264
2013 2361099967.9562
2014 2558279325.3925
2015 2360969860.3106
2016 2396371151.2403
2017 3043370370.7985
2018 3763352165.6221
2019 3688309956.3294
2020 4021114868.5131
2021 5102988755.47
2022 6354316724.258

Benin | Gross capital formation (current US$)

Gross capital formation (formerly gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and "work in progress." According to the 1993 SNA, net acquisitions of valuables are also considered capital formation. Data are in current U.S. dollars. Limitations and exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on capital formation may be estimated from direct surveys of enterprises and administrative records or based on the commodity flow method using data from production, trade, and construction activities. The quality of data on government fixed capital formation depends on the quality of government accounting systems (which tend to be weak in developing countries). Measures of fixed capital formation by households and corporations - particularly capital outlays by small, unincorporated enterprises - are usually unreliable. Estimates of changes in inventories are rarely complete but usually include the most important activities or commodities. In some countries these estimates are derived as a composite residual along with household final consumption expenditure. According to national accounts conventions, adjustments should be made for appreciation of the value of inventory holdings due to price changes, but this is not always done. In highly inflationary economies this element can be substantial. Statistical concept and methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.
Publisher
The World Bank
Origin
Republic of Benin
Records
63
Source