Upper 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
Upper middle income
Records
63
Source
Upper middle income | Gross capital formation (current US$)
year value
1960 71262761053.961
1961 43588659617.434
1962 35142992446.79
1963 47722801597.551
1964 59268495927.71
1965 72460601091.3
1966 85387968910.71
1967 75455110045.796
1968 78800207990.185
1969 89463171843.473
1970 121268766281.8
1971 131630248838.09
1972 143302151157.94
1973 186610156440.67
1974 228053523009.88
1975 271463338706.13
1976 266090170672.18
1977 299180222744.38
1978 370863438411.19
1979 448593592279.29
1980 556594398863.47
1981 592607122572.54
1982 510244008596.38
1983 481443641751.13
1984 500192445373.78
1985 502112490081.46
1986 475682192683.24
1987 535654740118.02
1988 659558146212.96
1989 698889442687.64
1990 759314253795.63
1991 732138264251.47
1992 775514466907.38
1993 904792656893.86
1994 911403371273.05
1995 980045431395.7
1996 1057127778056.1
1997 1087909342278.5
1998 999903042038.18
1999 939870827792.28
2000 1068826175643.1
2001 1099006576429.2
2002 1135167111310.9
2003 1355488269446.4
2004 1687943834514.7
2005 1984618257425.9
2006 2409385806867.7
2007 3091725446129.1
2008 3997179693637.2
2009 3893871722469.9
2010 5012435607242.6
2011 6189027878365.6
2012 6679526878599.4
2013 7250167438787.8
2014 7471085762157.2
2015 6959861270243
2016 6866983886396.5
2017 7622972027906.5
2018 8426785037640
2019 8494256321618.1
2020 8429221499030.3
2021 10297235663325
2022 10677044562959

Upper 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
Upper middle income
Records
63
Source