Low & middle income | 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
Low & middle income
Records
63
Source
Low & middle income | Gross capital formation (current US$)
year value
1960 84502044285.307
1961 63143480597.999
1962 55947847659.17
1963 70064856423.535
1964 85287470838.348
1965 100564976152.81
1966 105086671807.04
1967 100118093470.63
1968 106653307291.94
1969 119332178269.35
1970 153145899408.67
1971 165970460223.18
1972 182280572275.53
1973 233260080399.16
1974 299339065654.79
1975 355619673408.35
1976 376366745267.69
1977 439219183525
1978 510432053459.96
1979 580673220678.07
1980 737763723876.87
1981 788874001389.35
1982 711580287390.06
1983 713022101676.27
1984 727655389145.62
1985 732827838206.81
1986 726907784819.34
1987 760924561326.05
1988 876986142382.75
1989 932815815086.02
1990 1027715397332.6
1991 969964651645.72
1992 1035311516972.5
1993 1154668024818.1
1994 1181871269186.7
1995 1290230244837
1996 1381150329045.2
1997 1426276344897.8
1998 1334592303876.4
1999 1303262480791.1
2000 1427394736588.2
2001 1494761232518.3
2002 1553127350309
2003 1852603103420.7
2004 2321379970568.5
2005 2724691439930.5
2006 3285203469883.2
2007 4260238022922
2008 5292866608041.5
2009 5217583314595.5
2010 6608702927738
2011 7974723203026.8
2012 8510677288561.3
2013 9013777615233.5
2014 9339885440299
2015 8740231196845.4
2016 8703557161599.8
2017 9690465577583.8
2018 10581961857690
2019 10642663328933
2020 10392316839710
2021 12698405763910
2022 13269458547495

Low & middle income | 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
Low & middle income
Records
63
Source