Austria - Gross capital formation (% of GDP)

Gross capital formation (% of GDP) in Austria was 25.90 as of 2020. Its highest value over the past 50 years was 32.52 in 1974, while its lowest value was 22.61 in 2010.

Definition: 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.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1970 31.04
1971 31.03
1972 32.00
1973 32.24
1974 32.52
1975 27.16
1976 28.51
1977 29.70
1978 26.53
1979 29.34
1980 28.78
1981 26.93
1982 24.58
1983 23.04
1984 23.77
1985 24.45
1986 23.73
1987 24.06
1988 25.60
1989 26.47
1990 26.69
1991 26.90
1992 26.20
1993 25.25
1994 26.08
1995 26.76
1996 26.34
1997 26.21
1998 26.11
1999 26.12
2000 25.93
2001 25.16
2002 23.64
2003 24.41
2004 24.06
2005 23.83
2006 23.61
2007 24.58
2008 24.47
2009 22.78
2010 22.61
2011 24.14
2012 23.98
2013 23.72
2014 23.53
2015 23.81
2016 24.26
2017 24.84
2018 25.72
2019 25.40
2020 25.90

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.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts