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 | - |
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Investment Economic News
-
China: Economy continues to gain speed in the fourth quarter
January 18, 2021
The economy continued to recover in the fourth quarter, expanding 6.5% in annual terms (Q3: 4.9% year-on-year) and outpacing market expectations of 6.1% growth.
-
United Kingdom: Economic activity deteriorates in November as fresh restrictions bite
January 15, 2021
GDP decreased 2.6% in November (October: +0.6% mom).
-
Guatemala: GDP slides at softer rate in Q3
January 14, 2021
GDP declined at a markedly slower pace in the third quarter, decreasing 1.8% on an annual basis (Q2: -9.6% year-on-year). The upturn reflected a broad-based improvement in private consumption, public spending, fixed investment and exports.
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