Lower 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
Lower middle income
Records
63
Source
Lower middle income | Gross capital formation (current US$)
year value
1960 16385976912.948
1961 18150982988.278
1962 18057302590.855
1963 20478924989.741
1964 24359369939.236
1965 27254652909.743
1966 22606580736.222
1967 24991052686.91
1968 27548460221.322
1969 30023630950.465
1970 34827898217.936
1971 37513044129.603
1972 42054924229.555
1973 51873912105.056
1974 73795130572.002
1975 87258621802.654
1976 105666991522.1
1977 130808034462.72
1978 137303077708.88
1979 139388685144.66
1980 184352415636.84
1981 199986310885.79
1982 195923618058.32
1983 216658465340.22
1984 215155373363.74
1985 218408432908.07
1986 231798013139.29
1987 214519555471.82
1988 218283935617.8
1989 233849552135.51
1990 268643700838.71
1991 228830577119.67
1992 257521211289.7
1993 236200391160.8
1994 259666314125.49
1995 302396924617.52
1996 312127289117.89
1997 328872762640.53
1998 327664043578.5
1999 362008758150.33
2000 346803468716.64
2001 388139782533.52
2002 409957986574.3
2003 486764594930.88
2004 622590286094.65
2005 726432597102.28
2006 856543512712.77
2007 1149220643723.8
2008 1251889789080.3
2009 1282460472668.8
2010 1535480046658.6
2011 1698473126890.8
2012 1735910437997
2013 1636390997327
2014 1737944971229.7
2015 1657880504199.7
2016 1721951192445.9
2017 1938620866139.7
2018 2021507397824.1
2019 2001781158160.9
2020 1807084294294.2
2021 2226302911467.1
2022 2424592329610.8

Lower 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
Lower middle income
Records
63
Source