Early-demographic dividend | 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
Early-demographic dividend
Records
63
Source
Early-demographic dividend | Gross capital formation (current US$)
year value
1960
1961
1962
1963
1964
1965
1966
1967 38717653489.939
1968 42903090110.554
1969 47649766917.133
1970 55583975353.544
1971 59944318499.788
1972 68098499442.356
1973 80458010310.561
1974 133752560086.93
1975 150759932151.09
1976 182847740149.36
1977 214065702235.97
1978 233826953258.12
1979 254172006769.57
1980 332473309970.73
1981 375179112394.1
1982 334336051624.99
1983 341862903516.92
1984 332664867840.63
1985 306802703447.18
1986 307202256464.61
1987 309391282430.66
1988 341074584642.42
1989 352093671227.21
1990 414675321450.59
1991 432954850779.19
1992 490946123640.3
1993 538265513839.97
1994 573110045283.74
1995 590877638924.01
1996 627020371415.87
1997 689320354139.51
1998 688194027856.7
1999 709836563913.7
2000 744508646292
2001 735722516602.67
2002 730451498453.61
2003 836486358196.9
2004 1047423111416.5
2005 1237730426876.7
2006 1486474503166.8
2007 1868855195265.8
2008 2099982970199.1
2009 1994132848405.6
2010 2476563892916.3
2011 2799302314434.2
2012 2898388208467.1
2013 2832579227798.5
2014 2957666225559.3
2015 2795559494928
2016 2825963087669.2
2017 3119729296548.3
2018 3177107492642.3
2019 3134940777047.7
2020 2820887368893.5
2021 3401377316077.6
2022 3860722043257.9

Early-demographic dividend | 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
Early-demographic dividend
Records
63
Source