Gross capital formation (current US$) - Country Ranking - Europe

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. Data are in current U.S. dollars.

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

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 Germany 813,479,000,000.00 2020
2 France 626,328,000,000.00 2020
3 United Kingdom 460,866,000,000.00 2020
4 Italy 332,114,000,000.00 2020
5 Spain 265,154,000,000.00 2020
6 Turkey 229,566,000,000.00 2020
7 Switzerland 213,314,000,000.00 2020
8 Netherlands 198,694,000,000.00 2020
9 Ireland 174,112,000,000.00 2020
10 Sweden 134,191,000,000.00 2020
11 Belgium 126,087,000,000.00 2020
12 Austria 112,219,000,000.00 2020
13 Norway 109,782,000,000.00 2020
14 Poland 102,908,000,000.00 2020
15 Denmark 81,635,960,000.00 2020
16 Finland 65,929,840,000.00 2020
17 Czech Republic 63,592,210,000.00 2020
18 Romania 60,950,330,000.00 2020
19 Portugal 42,856,550,000.00 2020
20 Hungary 42,833,760,000.00 2020
21 Greece 28,321,640,000.00 2020
22 Slovak Republic 20,353,000,000.00 2020
23 Belarus 15,830,870,000.00 2020
24 Croatia 13,676,780,000.00 2020
25 Luxembourg 13,129,900,000.00 2020
26 Bulgaria 13,102,820,000.00 2020
27 Serbia 12,905,140,000.00 2020
28 Ukraine 11,686,020,000.00 2020
29 Slovenia 10,716,670,000.00 2020
30 Estonia 9,269,845,000.00 2020
31 Lithuania 7,616,973,000.00 2020
32 Latvia 7,535,366,000.00 2020
33 Iceland 4,687,262,000.00 2020
34 Cyprus 4,643,215,000.00 2020
35 Bosnia and Herzegovina 4,576,845,000.00 2020
36 North Macedonia 3,633,550,000.00 2020
37 Albania 3,632,299,000.00 2019
38 Malta 3,430,401,000.00 2020
39 Moldova 2,792,245,000.00 2020
40 Montenegro 1,487,546,000.00 2020
41 San Marino 388,324,300.00 2019

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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: Gap-filled total

Periodicity: Annual