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
| 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 | - |
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Investment Economic News
-
New Zealand: Economy rebounds strongly in Q1 amid booming housing market and low interest rates
June 18, 2021
GDP expanded 1.6% in seasonally-adjusted quarter-on-quarter terms in Q1, as growth in domestic demand surged amid a booming housing market and favorable financing conditions.
-
Mexico: Third estimate shows the economy recorded the best result since Q1 2020 in the first quarter
June 18, 2021
According to a third estimate, GDP contracted at a slower rate of 3.6% year-on-year in the first quarter, above the 4.5% contraction recorded in the fourth quarter of last year.
-
Ghana: GDP growth eases in Q1
June 17, 2021
The economy lost some steam in the first quarter amid a second wave of Covid-19 infections and the reimposition of restrictions, with GDP growth slowing to 3.1% in annual terms from 3.3% in Q4 2020.
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