United Kingdom | 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
United Kingdom of Great Britain and Northern Ireland
Records
63
Source
United Kingdom | Gross capital formation (current US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 31894437245.02
1971 35288437576.053
1972 39434960039.96
1973 52391611954.924
1974 57222052360.916
1975 57915095132.743
1976 60661876010.782
1977 66946682365.254
1978 83391390220.518
1979 109657628123.68
1980 121310873808.97
1981 104745196945.34
1982 103876629979.04
1983 103273821433.99
1984 102482016493.75
1985 107738737166.32
1986 130959352096.16
1987 169290155254.13
1988 231515517609.39
1989 241721094568.06
1990 253404895241.48
1991 225982881834.21
1992 224223927693.93
1993 196866477204.56
1994 223055273951.64
1995 251189837462.52
1996 267985959438.38
1997 276851669941.06
1998 301936071546.87
1999 304991101763.47
2000 306769556665.15
2001 301874190297.97
2002 327727817745.8
2003 368537142857.14
2004 430408275357.01
2005 457647272727.27
2006 497920883164.67
2007 576224489795.92
2008 515408088235.29
2009 361102975541.36
2010 402057021419.28
2011 424332113577.83
2012 434763935133.46
2013 461177396769.72
2014 542996400710.46
2015 523199702729.71
2016 482283795189.54
2017 495376721948.29
2018 522051208758.48
2019 524050753209.43
2020 474068205992.85
2021 563285306205.44
2022 573906095496.09

United Kingdom | 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
United Kingdom of Great Britain and Northern Ireland
Records
63
Source