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

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