Late-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
Late-demographic dividend
Records
63
Source
Late-demographic dividend | Gross capital formation (current US$)
1960 71510429184.742
1961 40079136186.469
1962 29770054730.591
1963 40327881830.637
1964 50276392500.817
1965 62752838608.257
1966 76077260057.195
1967 61944594293.838
1968 63728141111.253
1969 71582059008.384
1970 100735308819.44
1971 112085009571.35
1972 118880598227.48
1973 153859614348.8
1974 174355300809.24
1975 195482307899.44
1976 187009392264.84
1977 222302094979.62
1978 292133359904.75
1979 347397125386.97
1980 403168527213.86
1981 388579355760.65
1982 367744111854.91
1983 382605510915.79
1984 412050248905.66
1985 427868265248.07
1986 412429002687.36
1987 450229751586.11
1988 568877991622.73
1989 631983551251.61
1990 574418863108.43
1991 613797999952.65
1992 638855126833.27
1993 709807751819.96
1994 705111926587.23
1995 828133664846.43
1996 903794000072.99
1997 916132451891.65
1998 840027481003.98
1999 769458735021.91
2000 861958907973.08
2001 940795763066.68
2002 1003069940791.9
2003 1207447371933.5
2004 1510596808552.1
2005 1774081301750
2006 2162147739643.2
2007 2876103995359.5
2008 3729854181063.1
2009 3644745266569.8
2010 4556095836015.7
2011 5632184223048.6
2012 6103168216850
2013 6631500395052
2014 6923071054078.4
2015 6490919611972.5
2016 6474954739102.6
2017 7172311903375.6
2018 8054008003987
2019 8251461422577.3
2020 8204146722401.1
2021 9824843058156.1
2022 10083486121102

Late-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
Late-demographic dividend
Records
63
Source