Togo - Gross capital formation (% of GDP)

Gross capital formation (% of GDP) in Togo was 23.61 as of 2020. Its highest value over the past 60 years was 52.69 in 1978, while its lowest value was 7.48 in 1993.

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 10.77
1961 8.06
1962 10.19
1963 12.82
1964 20.15
1965 22.44
1966 16.38
1967 12.63
1968 11.02
1969 13.22
1970 15.10
1971 18.88
1972 20.69
1973 21.74
1974 16.38
1975 27.66
1976 24.86
1977 34.35
1978 52.69
1979 48.81
1980 28.45
1981 23.82
1982 21.33
1983 20.60
1984 15.04
1985 16.63
1986 18.83
1987 17.64
1988 16.03
1989 16.52
1990 26.57
1991 17.11
1992 15.71
1993 7.48
1994 15.04
1995 16.13
1996 18.77
1997 16.29
1998 16.44
1999 13.34
2000 15.30
2001 16.35
2002 16.98
2003 14.64
2004 14.06
2005 16.49
2006 18.49
2007 17.89
2008 21.18
2009 22.10
2010 22.03
2011 28.61
2012 25.58
2013 27.39
2014 27.92
2015 32.22
2016 21.41
2017 18.32
2018 18.11
2019 20.54
2020 23.61

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