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.
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Investment Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Albania | -2.0 | -4.6 | 3.5 | 3.3 | 7.7 |
| Algeria | 8.6 | 6.4 | 5.7 | 3.5 | - |
| Angola | 1.6 | 3.5 | -1.9 | - | - |
| Argentina | 2.3 | -6.8 | 3.5 | -4.9 | 11.3 |
| Armenia | -7.0 | -2.2 | 2.5 | -11.4 | 7.7 |
| Australia | -1.7 | -2.0 | -3.6 | -2.1 | 3.1 |
| Austria | 1.6 | -0.7 | 1.2 | 3.7 | 4.9 |
| Bahrain | 16.9 | 5.9 | -8.5 | 11.0 | - |
| Belarus | 9.6 | -5.3 | -15.9 | -17.4 | 5.2 |
| Belgium | -1.5 | 5.7 | 2.7 | 3.8 | 0.7 |
| Bolivia | 11.7 | 9.9 | 5.0 | 3.4 | 11.8 |
| Bosnia and Herzegovina | -1.2 | 11.5 | -3.5 | 2.5 | - |
| Brazil | 5.8 | -4.2 | -13.9 | -10.3 | -1.8 |
| Bulgaria | 0.3 | 3.4 | 2.7 | -6.6 | 3.8 |
| Canada | 0.3 | 1.6 | -4.5 | -1.9 | 3.0 |
| Chile | 2.2 | -4.8 | -0.3 | -0.7 | -1.1 |
| China | 9.8 | 7.3 | 6.9 | 6.6 | - |
| Colombia | 6.8 | 9.8 | 1.9 | -2.7 | 0.1 |
| Costa Rica | -0.3 | 3.3 | 3.0 | 4.0 | -3.1 |
| Croatia | 1.4 | -2.8 | 3.8 | 6.5 | 3.8 |
| Cyprus | -12.9 | -17.6 | 13.6 | 35.0 | 27.8 |
| Czech Republic | -2.5 | 4.0 | 10.4 | -2.5 | 5.9 |
| Denmark | 2.7 | 3.1 | 3.1 | 6.0 | 3.7 |
| Dominican Republic | -2.5 | 12.3 | 20.6 | 11.4 | 0.5 |
| Ecuador | 10.4 | 2.3 | -6.2 | -8.1 | -0.5 |
| Egypt | -8.4 | 1.7 | 8.6 | 11.2 | 11.3 |
| El Salvador | 6.9 | -6.4 | 2.2 | 3.8 | 0.8 |
| Estonia | 1.5 | -8.7 | -3.0 | -1.2 | 13.1 |
| Eurozone | -2.5 | 1.9 | 3.1 | 4.5 | 3.5 |
| Finland | -4.9 | -2.6 | 0.7 | 8.0 | 5.8 |
| France | -0.7 | 0.0 | 0.9 | 2.7 | 4.7 |
| Germany | -1.3 | 3.7 | 1.5 | 3.1 | 3.3 |
| Ghana | -26.1 | 19.7 | 6.6 | -12.0 | - |
| Greece | -8.4 | -4.7 | -0.3 | 1.6 | 9.6 |
| Guatemala | 1.5 | 4.4 | 5.9 | 2.7 | 3.1 |
| Haiti | 6.1 | 2.1 | 3.6 | 1.1 | 0.9 |
| Honduras | -1.9 | 0.6 | 12.3 | -6.8 | 7.5 |
| Hong Kong | 2.6 | -0.1 | -3.2 | -0.1 | 3.5 |
| Hungary | 9.8 | 12.3 | 1.9 | -10.6 | 16.8 |
| Iceland | 2.2 | 16.5 | 18.7 | 22.5 | 9.3 |
| India | 1.6 | 2.6 | 5.2 | 10.1 | - |
| Indonesia | 5.0 | 4.4 | 5.0 | 4.5 | 6.2 |
| Iraq | - | - | - | - | - |
| Ireland | -3.7 | 18.1 | 27.9 | 61.2 | -22.3 |
| Israel | 3.6 | 0.8 | -0.8 | 11.9 | 2.7 |
| Italy | -6.6 | -2.2 | 1.9 | 3.3 | 3.9 |
| Jamaica | 5.5 | 3.0 | -5.0 | 0.4 | - |
| Japan | 5.0 | 2.9 | 1.8 | 1.2 | 2.5 |
| Kazakhstan | 5.5 | 4.4 | 4.2 | 3.0 | 4.0 |
| Kenya | 2.1 | 14.2 | 6.6 | -9.4 | 6.3 |
| Korea | 3.3 | 3.4 | 5.1 | 5.6 | 8.6 |
| Kosovo | 3.1 | -2.7 | 13.4 | 10.9 | - |
| Kuwait | 8.9 | 4.5 | 15.5 | 2.0 | - |
| Latvia | -6.0 | 0.1 | -0.5 | -15.0 | 16.0 |
| Lithuania | 8.3 | 5.8 | 4.8 | -0.5 | 7.3 |
| Luxembourg | 1.2 | 4.3 | -8.0 | 0.5 | 1.9 |
| Malaysia | 8.1 | 4.8 | 3.6 | 2.7 | 6.2 |
| Malta | 1.3 | 6.8 | 56.8 | 1.7 | -7.6 |
| Mexico | -3.4 | 3.1 | 5.0 | 1.1 | -1.5 |
| Morocco | -0.5 | -1.3 | 0.2 | 9.3 | -0.2 |
| Mozambique | 53.2 | 24.0 | -22.8 | -29.9 | - |
| Netherlands | -4.3 | 2.3 | 11.0 | 5.3 | 5.6 |
| New Zealand | 7.8 | 9.5 | 4.3 | 6.4 | 3.3 |
| Nicaragua | 3.5 | -0.4 | 24.0 | 3.9 | -1.4 |
| Nigeria | 7.9 | 13.4 | 0.6 | -6.8 | - |
| North Macedonia | 0.5 | 10.7 | 8.3 | 13.3 | -4.5 |
| Norway | 6.3 | -0.3 | -4.0 | -0.2 | 4.9 |
| Oman | 12.4 | 2.4 | 1.1 | -0.7 | - |
| Panama | 21.1 | 8.7 | 6.5 | 7.0 | - |
| Paraguay | 11.9 | 8.8 | 2.0 | 7.9 | 11.5 |
| Peru | 7.9 | -2.0 | -5.2 | -4.7 | -0.3 |
| Philippines | 11.8 | 7.2 | 16.9 | 26.1 | 9.5 |
| Poland | -1.1 | 10.0 | 6.1 | -8.2 | 3.4 |
| Portugal | -5.1 | 2.3 | 5.8 | 1.5 | 9.2 |
| Qatar | 6.4 | 11.3 | 1.3 | - | - |
| Romania | -5.6 | 3.2 | 7.1 | -1.8 | 4.5 |
| Russia | 1.3 | -1.8 | -11.2 | 0.8 | 4.3 |
| Saudi Arabia | 5.6 | 7.5 | 3.7 | -14.4 | -7.0 |
| Serbia | -12.0 | -3.6 | 5.6 | 5.1 | 6.2 |
| Singapore | 6.5 | 5.5 | 2.2 | -0.6 | -1.8 |
| Slovakia | -0.9 | 3.0 | 19.8 | -8.3 | 3.2 |
| Slovenia | 3.2 | 1.1 | -1.6 | -3.6 | 10.3 |
| South Africa | 7.2 | 0.7 | 3.4 | -4.1 | 0.4 |
| Spain | -3.4 | 4.7 | 6.5 | 3.3 | 5.0 |
| Sweden | 0.6 | 5.5 | 6.9 | 5.6 | 5.9 |
| Switzerland | 0.6 | 3.0 | 2.3 | 3.0 | 3.1 |
| Taiwan | 5.3 | 2.1 | 1.6 | 2.3 | 0.0 |
| Tajikistan | - | - | - | - | - |
| Tanzania | 4.5 | 12.8 | 10.6 | 12.4 | - |
| Thailand | -1.0 | -2.2 | 4.3 | 2.8 | 0.9 |
| Trinidad and Tobago | 10.9 | 4.6 | -31.5 | - | - |
| Tunisia | 0.2 | -2.9 | -0.5 | 1.0 | - |
| Turkey | 13.8 | 5.1 | 9.3 | 2.2 | 7.3 |
| USA | 5.0 | 6.2 | 3.9 | 0.7 | 4.0 |
| Ukraine | -8.4 | -24.0 | -9.2 | 20.4 | 18.2 |
| United Arab Emirates | -5.7 | 10.9 | 4.3 | 2.3 | - |
| United Kingdom | 3.4 | 7.1 | 2.8 | 1.8 | 4.0 |
| Uruguay | 3.8 | 2.4 | -9.2 | -1.6 | -15.5 |
| Uzbekistan | 5.2 | 7.4 | 0.8 | 16.4 | 7.1 |
| Venezuela | -9.0 | -16.9 | -17.6 | - | - |
| Vietnam | 5.3 | 9.3 | 9.4 | 9.9 | - |
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Investment Economic News
Japan: Second GDP release leaves growth broadly unchanged in Q1
June 10, 2019
Although comprehensive data for the first quarter corroborated that the economy expanded for the second consecutive quarter, it also confirmed that the print was mostly led by a sharp drop in imports.
United Kingdom: The economy contracts sharply in April amid plunging car production
June 10, 2019
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity fell 0.4% in April over the prior month in seasonally-adjusted terms, down from March’s 0.1% contraction.
Cyprus: Growth at over three-year low on plunging exports
June 7, 2019
Economic growth clocked in at 3.2% in year-on-year terms in Q1 2019, slowing from the 3.8% expansion recorded in Q4 2018, due to a notable deterioration in the external sector.
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