Thailand | Gross capital formation (% of GDP)

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. 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
Kingdom of Thailand
Records
63
Source
Thailand | Gross capital formation (% of GDP)
1960 14.46365768
1961 13.9594716
1962 16.98796229
1963 19.82464169
1964 18.52797242
1965 18.63513863
1966 21.77254825
1967 21.90058018
1968 23.27153489
1969 24.32591561
1970 25.59769344
1971 24.20860488
1972 21.67666095
1973 26.99594817
1974 26.63502807
1975 26.75041342
1976 23.98528098
1977 26.88475787
1978 28.16386659
1979 27.20522521
1980 29.14192413
1981 29.67530952
1982 26.51654201
1983 29.97527632
1984 29.47311368
1985 28.24458054
1986 25.87231091
1987 27.87471199
1988 32.59088992
1989 35.06611671
1990 41.35376259
1991 42.84137755
1992 39.96394765
1993 39.65614664
1994 40.90778485
1995 42.8626944
1996 42.53268871
1997 34.27472926
1998 20.07149552
1999 20.17340505
2000 22.28260569
2001 23.11243721
2002 22.74419377
2003 23.82929867
2004 25.6814147
2005 30.42075086
2006 27.01164339
2007 25.49601429
2008 28.22643495
2009 20.63639838
2010 25.35665463
2011 26.79145825
2012 28.02416571
2013 27.45710118
2014 23.91901955
2015 22.35564064
2016 21.1054892
2017 22.93429569
2018 25.21959016
2019 23.81475257
2020 23.73853101
2021 28.6274347
2022 27.80690487

Thailand | Gross capital formation (% of GDP)

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. 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
Kingdom of Thailand
Records
63
Source