IDA & IBRD total | 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
IDA & IBRD total
Records
63
Source
IDA & IBRD total | Gross capital formation (current US$)
1960 89904588115.759
1961 69328911204.406
1962 62429984763.19
1963 76698390974.736
1964 92362076831.057
1965 107714300202.99
1966 113027104586.91
1967 108244182619.33
1968 116230543783.6
1969 129776881900.6
1970 165185671723.27
1971 179719875555.8
1972 196468235970.36
1973 250885216259
1974 323424683860.75
1975 380317554722.27
1976 407433889447.68
1977 482100384243.72
1978 559551518439.11
1979 630271567290.31
1980 793502534067.21
1981 851469382504.05
1982 766122886158.8
1983 744611116735.4
1984 761341520199.09
1985 766334218039.44
1986 764337250655.42
1987 801466179743.27
1988 927234641211.19
1989 971981414932.77
1990 1071572458256.7
1991 1019797384096.7
1992 1097172357136.5
1993 1218863138145.9
1994 1245057961717.1
1995 1369271942479.6
1996 1467530106825.3
1997 1532276056685.6
1998 1450191209929.1
1999 1405509658187.2
2000 1533106321487.5
2001 1602761630770.9
2002 1645473368682.6
2003 1950197861503.9
2004 2451801372900.3
2005 2886418558269
2006 3497124075405.2
2007 4559482756506
2008 5667495259653.9
2009 5506503186776.5
2010 6922231226351
2011 8317912167615
2012 8876505750116.5
2013 9377231477372.3
2014 9729025828076.2
2015 9069328403254.4
2016 9021279035062.8
2017 10040027959250
2018 10979353678079
2019 11037993792402
2020 10760397689057
2021 13049287173570
2022 13668847125373

IDA & IBRD total | 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
IDA & IBRD total
Records
63
Source