Gross capital formation (constant LCU) - Oceania
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 constant local currency.
Description: The map below shows how Gross capital formation (constant LCU) varies by country in Oceania. The shade of the country corresponds to the magnitude of the indicator. The darker the shade, the higher the value. The country with the highest value in the region is Australia, with a value of 453,052,000,000.00. The country with the lowest value in the region is Palau, with a value of 75,776,270.00.
Source: World Bank national accounts data, and OECD National Accounts data files.
Base Period: varies by country