Colombia - Gross capital formation (% of GDP)

Gross capital formation (% of GDP) in Colombia was 19.01 as of 2020. Its highest value over the past 60 years was 25.80 in 1995, while its lowest value was 12.88 in 1999.

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
1960 20.25
1961 20.49
1962 18.13
1963 17.65
1964 17.51
1965 14.73
1966 19.06
1967 17.00
1968 19.09
1969 17.88
1970 20.23
1971 19.42
1972 18.13
1973 18.27
1974 21.46
1975 16.99
1976 17.56
1977 18.75
1978 18.28
1979 18.15
1980 19.07
1981 20.62
1982 20.49
1983 19.89
1984 18.96
1985 19.04
1986 18.00
1987 20.00
1988 21.99
1989 19.98
1990 20.61
1991 19.11
1992 20.55
1993 24.94
1994 25.54
1995 25.80
1996 22.15
1997 20.92
1998 19.73
1999 12.88
2000 14.90
2001 16.03
2002 17.25
2003 18.68
2004 19.44
2005 21.66
2006 22.94
2007 23.45
2008 23.72
2009 21.99
2010 21.89
2011 23.00
2012 22.10
2013 22.18
2014 24.00
2015 23.77
2016 23.17
2017 21.60
2018 21.20
2019 21.51
2020 19.01

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