
Investment (annual variation in %)
Investment typically refers to gross fixed investment or, more precisely, gross fixed capital formation (GFCF). Gross fixed capital formation is a macroeconomic aggregate used in national accounting that measures the value of acquisitions of new or existing fixed assets with a life span of more than one year by the business sector (national accounting generally considers personal spending and most government spending as consumption).
Gross fixed capital formation includes spending on factories, machinery, equipment, buildings (including private residential dwellings) and infrastructure. Investment is called “gross” because it does not consider the consumption of fixed assets (depreciation); the term “fixed” is used because inventories (stocks) are not included; and the term “capital formation” is used because financial investments are not included.
The investment component of Gross Domestic Product (GDP) is much more cyclical than consumption. When businesses expect economic growth to be strong, they are more likely to invest. The level of capacity utilization and interest rates also determine investment decisions.
The table below shows the percent changes in gross fixed investment for the last five years.
Looking for forecasts? FocusEconomics Consensus Forecasts cover approx. 30 macro-economic indicators per country for a 5-year forecast period and quarterly forecasts for the most important economic variables. Get Details.
Investment Data
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Albania | 3.8 | 2.5 | 6.7 | 2.6 | -3.1 |
Algeria | 5.7 | 3.5 | 3.4 | 3.1 | 1.0 |
Angola | -1.9 | -19.5 | 3.0 | -6.2 | - |
Argentina | 3.5 | -5.8 | 12.2 | -5.7 | -15.9 |
Armenia | 2.3 | -8.8 | 7.0 | 8.6 | 5.0 |
Australia | -4.0 | -2.4 | 3.5 | 2.5 | -2.2 |
Austria | 2.3 | 4.1 | 4.0 | 3.9 | 2.7 |
Bahrain | -8.5 | 10.8 | 11.0 | 4.7 | - |
Belarus | -15.5 | -14.5 | 5.5 | 4.4 | 5.6 |
Belgium | 3.7 | 3.8 | 1.3 | 4.0 | 3.2 |
Bolivia | 5.0 | 3.4 | 11.8 | 3.2 | -3.5 |
Bosnia and Herzegovina | -3.5 | 2.5 | 5.8 | 9.2 | - |
Brazil | -13.9 | -12.1 | -2.6 | 3.9 | 2.2 |
Bulgaria | 2.7 | -6.6 | 3.2 | 5.4 | 2.2 |
Canada | -4.3 | -4.0 | 4.0 | 1.8 | -0.4 |
Chile | -0.3 | -1.3 | -3.1 | 4.8 | 4.2 |
China | 7.0 | 6.8 | 4.4 | 4.8 | 4.5 |
Colombia | 2.4 | -2.9 | 1.9 | 1.5 | 4.3 |
Costa Rica | 3.0 | 4.8 | -2.5 | 3.0 | -6.4 |
Croatia | 3.8 | 6.5 | 5.1 | 4.1 | 7.1 |
Cyprus | -0.2 | 48.9 | 24.1 | -6.6 | 0.1 |
Czech Republic | 10.3 | -3.2 | 4.0 | 7.5 | 2.7 |
Denmark | 5.5 | 7.9 | 3.0 | 5.4 | 3.4 |
Dominican Republic | 18.9 | 12.3 | -0.3 | 13.3 | 8.1 |
Ecuador | -6.2 | -8.9 | 5.3 | 2.0 | -3.4 |
Egypt | - | - | - | - | - |
El Salvador | 9.0 | 3.6 | 3.6 | 6.7 | 9.6 |
Estonia | -3.2 | 0.8 | 12.5 | 1.7 | 13.4 |
Eurozone | 4.5 | 4.0 | 3.8 | 2.3 | 5.8 |
Finland | 0.5 | 8.6 | 4.2 | 3.9 | -0.6 |
France | 0.9 | 2.5 | 5.0 | 3.2 | 4.3 |
Germany | 1.8 | 3.8 | 2.5 | 3.5 | 2.6 |
Ghana | -2.7 | 12.2 | 1.0 | 13.2 | -10.0 |
Greece | 0.6 | 4.6 | 9.4 | -12.0 | 4.5 |
Guatemala | -1.5 | -1.7 | 4.0 | 4.6 | 7.2 |
Haiti | 3.6 | 1.1 | 0.9 | 2.3 | - |
Honduras | 22.4 | -5.2 | 11.8 | 4.3 | -15.4 |
Hong Kong | -3.2 | -0.1 | 3.1 | 1.7 | -12.3 |
Hungary | 4.8 | -10.6 | 18.7 | 17.1 | 15.3 |
Iceland | 21.3 | 17.8 | 10.8 | -1.1 | -6.3 |
India | 6.5 | 8.5 | 7.2 | 9.8 | - |
Indonesia | 5.0 | 4.5 | 6.2 | 6.6 | 4.4 |
Iraq | - | - | - | - | - |
Ireland | 52.6 | 50.8 | -6.8 | -21.1 | 94.1 |
Israel | 0.0 | 12.9 | 4.2 | 5.0 | 1.1 |
Italy | 1.6 | 4.2 | 3.4 | 2.9 | 1.4 |
Jamaica | -4.8 | 0.1 | 4.6 | 5.7 | - |
Japan | 1.6 | -0.3 | 3.0 | 0.6 | 1.3 |
Kazakhstan | 4.2 | 3.0 | 4.5 | 5.4 | 11.9 |
Kenya | 6.6 | -9.2 | 8.3 | 1.3 | 2.4 |
Korea | 5.4 | 6.6 | 9.8 | -2.2 | -2.8 |
Kosovo | 12.1 | 7.3 | 5.7 | 7.4 | 6.5 |
Kuwait | - | - | - | - | - |
Latvia | -1.2 | -8.2 | 11.3 | 15.8 | 3.1 |
Lithuania | 4.9 | 3.4 | 8.2 | 8.4 | 7.4 |
Luxembourg | -7.7 | 4.6 | 5.6 | -5.9 | 4.0 |
Malaysia | 3.6 | 2.6 | 6.1 | 1.4 | -2.1 |
Malta | 55.6 | -0.2 | -7.1 | -1.8 | 6.2 |
Mexico | 5.0 | 1.0 | -1.6 | 0.9 | -4.9 |
Morocco | 0.2 | 8.8 | -0.2 | 1.2 | 1.0 |
Mozambique | -16.8 | -9.4 | -5.8 | 12.4 | - |
Netherlands | 29.2 | -7.3 | 4.2 | 3.2 | 5.3 |
New Zealand | 4.0 | 3.4 | 5.0 | 5.3 | 2.7 |
Nicaragua | 27.7 | -0.3 | 1.2 | -26.4 | -30.6 |
Nigeria | -1.3 | -4.8 | -3.0 | 9.7 | 8.3 |
North Macedonia | 8.3 | 12.5 | -2.2 | -7.3 | 6.6 |
Norway | -4.0 | 3.9 | 2.6 | 2.8 | 6.1 |
Oman | -1.2 | 16.5 | -4.3 | -5.1 | - |
Panama | 6.5 | 2.1 | 7.6 | 0.9 | - |
Paraguay | -2.1 | 2.0 | 5.9 | 6.9 | -6.6 |
Peru | -4.7 | -4.3 | -0.2 | 4.7 | 2.9 |
Philippines | 13.8 | 20.9 | 10.6 | 12.9 | 3.9 |
Poland | 6.1 | -8.2 | 4.0 | 9.4 | 7.2 |
Portugal | 5.9 | 2.5 | 11.5 | 5.8 | 6.6 |
Qatar | 1.6 | 22.5 | 1.3 | - | - |
Romania | 7.2 | 0.0 | 3.5 | -1.0 | 17.9 |
Russia | -10.6 | 1.3 | 4.7 | 0.1 | 1.5 |
Saudi Arabia | 3.7 | -14.0 | 0.7 | -2.1 | 4.0 |
Serbia | 4.9 | 5.4 | 7.3 | 17.8 | 16.4 |
Singapore | 2.0 | 1.5 | 4.2 | -3.4 | -0.2 |
Slovakia | 21.6 | -9.3 | 3.9 | 3.7 | 5.2 |
Slovenia | -1.2 | -3.7 | 10.4 | 9.1 | 3.2 |
South Africa | 2.5 | -3.5 | 1.0 | -1.4 | -0.9 |
Spain | 4.9 | 2.4 | 5.9 | 5.3 | 1.8 |
Sweden | 6.9 | 4.0 | 5.5 | 1.4 | -1.3 |
Switzerland | 2.3 | 2.5 | 3.4 | 1.1 | 0.8 |
Taiwan | 2.7 | 3.4 | -0.3 | 3.0 | 9.1 |
Tajikistan | - | - | - | - | - |
Tanzania | 7.1 | 16.0 | 15.8 | 15.5 | - |
Thailand | 4.4 | 2.9 | 1.8 | 3.8 | 2.1 |
Trinidad and Tobago | -31.5 | - | - | - | - |
Tunisia | -0.5 | 1.1 | 0.3 | 2.0 | - |
Turkey | 9.3 | 2.2 | 8.2 | -0.6 | -12.4 |
USA | 3.4 | 1.9 | 4.2 | 4.6 | 1.3 |
Ukraine | -9.2 | 20.4 | 16.1 | 16.6 | 14.2 |
United Arab Emirates | 4.3 | 8.8 | -17.3 | 3.6 | 0.0 |
United Kingdom | 3.7 | 3.6 | 1.6 | -0.2 | 0.6 |
Uruguay | -9.2 | -1.6 | -15.7 | -2.7 | 1.4 |
Uzbekistan | 0.8 | 16.4 | 7.1 | - | - |
Venezuela | -20.4 | -45.1 | -45.3 | -37.5 | - |
Vietnam | 9.4 | 9.9 | 10.2 | 8.6 | - |
Download Sample Report
Investment Economic News
-
Spain: Economy continues to expand despite sharp contraction in domestic demand in Q4
January 27, 2023
According to a preliminary estimate, GDP rose 0.2% on a seasonally adjusted quarter-on-quarter basis in Q4 2022, matching the increase recorded in Q3.
-
United States: GDP growth ebbs in the fourth quarter
January 26, 2023
GDP growth slowed to 2.9% in seasonally adjusted annualized rate terms (SAAR) in the fourth quarter, from 3.2% in the third quarter.
-
Taiwan: GDP records sharpest contraction since Q3 2009 in the fourth quarter
January 18, 2023
GDP decreased 0.9% on an annual basis in Q4 (Q3: +4.0% year on year).
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.