IBRD only | 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
IBRD only
Records
63
Source
IBRD only | Gross capital formation (current US$)
84093544439.17 1960
63109421043.516 1961
55711819627.572 1962
69564543998.577 1963
84111033211.154 1964
98488732734.761 1965
103637984938.81 1966
97916552855.369 1967
105163585598.01 1968
117998568889.93 1969
151474602252.35 1970
165582143664.82 1971
183013952670.08 1972
235044138861.51 1973
303086111633.64 1974
355606293502.23 1975
381734225130.37 1976
451102926400.52 1977
521700665704.95 1978
587736730377.97 1979
738233267481.27 1980
792027963818.07 1981
708389754999.21 1982
692501346597.79 1983
708958757587.15 1984
712857723641.86 1985
707032003378.99 1986
739024124944.57 1987
860036735907.27 1988
903614441019.15 1989
995288883801.99 1990
942307829870.35 1991
1020097008790 1992
1139675279615.8 1993
1164188781942.5 1994
1280328778927.7 1995
1368603985743.6 1996
1432545856435.1 1997
1348833265826.5 1998
1307100443589.6 1999
1420335507701.6 2000
1490107595236.9 2001
1531792768219.3 2002
1815306522301.5 2003
2287667501441.1 2004
2695340584902.5 2005
3267826119277.3 2006
4275128419841.2 2007
5318696981890 2008
5164406435684.4 2009
6513279841489 2010
7843547159272.7 2011
8367363415496.8 2012
8822155743075.7 2013
9138171972238.1 2014
8489367173968.2 2015
8413264179045.6 2016
9370526250919.4 2017
10259851730222 2018
10309555257970 2019
10055270364862 2020
12232635319070 2021
12804288508110 2022

IBRD only | 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
IBRD only
Records
63
Source