Investment (annual variation in %)

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

20132014201520162017
Albania-2.0-4.63.53.37.7
Algeria8.66.45.73.5-  
Angola1.63.5-1.9-  -  
Argentina2.3-6.83.5-4.911.3
Armenia-7.0-2.22.5-11.47.7
Australia-1.7-2.0-3.6-2.13.1
Austria1.6-0.71.23.74.9
Bahrain16.95.9-8.511.0-  
Belarus9.6-5.3-15.9-17.45.2
Belgium-1.55.72.73.80.7
Bolivia11.79.95.03.411.8
Bosnia and Herzegovina-1.211.5-3.52.5-  
Brazil5.8-4.2-13.9-10.3-1.8
Bulgaria0.33.42.7-6.63.8
Canada0.31.6-4.5-1.93.0
Chile2.2-4.8-0.3-0.7-1.1
China9.87.36.96.6-  
Colombia6.89.81.9-2.70.1
Costa Rica-0.33.33.04.0-3.1
Croatia1.4-2.83.86.53.8
Cyprus-12.9-17.613.635.027.8
Czech Republic-2.54.010.4-2.55.9
Denmark2.73.13.16.03.7
Dominican Republic-2.512.320.611.40.5
Ecuador10.42.3-6.2-8.1-0.5
Egypt-8.41.78.611.211.3
El Salvador6.9-6.42.23.80.8
Estonia1.5-8.7-3.0-1.213.1
Eurozone-2.51.93.14.53.5
Finland-4.9-2.60.78.05.8
France-0.70.00.92.74.7
Germany-1.33.71.53.13.3
Ghana-26.119.76.6-12.0-  
Greece-8.4-4.7-0.31.69.6
Guatemala1.54.45.92.73.1
Haiti6.12.13.61.10.9
Honduras-1.90.612.3-6.87.5
Hong Kong2.6-0.1-3.2-0.13.5
Hungary9.812.31.9-10.616.8
Iceland2.216.518.722.59.3
India1.62.65.210.1-  
Indonesia5.04.45.04.56.2
Iraq-  -  -  -  -  
Ireland-3.718.127.961.2-22.3
Israel3.60.8-0.811.92.7
Italy-6.6-2.21.93.33.9
Jamaica5.53.0-5.00.4-  
Japan5.02.91.81.22.5
Kazakhstan5.54.44.23.04.0
Kenya2.114.26.6-9.46.3
Korea3.33.45.15.68.6
Kosovo3.1-2.713.410.9-  
Kuwait8.94.515.52.0-  
Latvia-6.00.1-0.5-15.016.0
Lithuania8.35.84.8-0.57.3
Luxembourg1.24.3-8.00.51.9
Macedonia0.510.78.313.3-4.5
Malaysia8.14.83.62.76.2
Malta1.36.856.81.7-7.6
Mexico-3.43.15.01.1-1.5
Morocco-0.5-1.30.29.3-0.2
Mozambique53.224.0-22.8-29.9-  
Netherlands-4.32.311.05.35.6
New Zealand7.89.54.36.43.3
Nicaragua3.5-0.424.03.9-1.4
Nigeria7.913.40.6-6.8-  
Norway6.3-0.3-4.0-0.24.9
Oman12.42.41.1-0.7-  
Panama21.18.76.57.0-  
Paraguay11.98.82.07.911.5
Peru7.9-2.0-5.2-4.7-0.3
Philippines11.87.216.926.19.5
Poland-1.110.06.1-8.23.4
Portugal-5.12.35.81.59.2
Qatar6.411.31.3-  -  
Romania-5.63.27.1-1.84.5
Russia1.3-1.8-11.20.84.3
Saudi Arabia5.67.53.7-14.4-7.0
Serbia-12.0-3.65.65.16.2
Singapore6.55.52.2-0.6-1.8
Slovakia-0.93.019.8-8.33.2
Slovenia3.21.1-1.6-3.610.3
South Africa7.20.73.4-4.10.4
Spain-3.44.76.53.35.0
Sweden0.65.56.95.65.9
Switzerland0.63.02.33.03.1
Taiwan5.32.11.62.30.0
Tajikistan-  -  -  -  -  
Tanzania4.512.810.612.4-  
Thailand-1.0-2.24.32.80.9
Trinidad and Tobago10.94.6-31.5-  -  
Tunisia0.2-2.9-0.51.0-  
Turkey13.85.19.32.27.3
USA5.06.23.90.74.0
Ukraine-8.4-24.0-9.220.418.2
United Arab Emirates-5.710.94.32.3-  
United Kingdom3.47.12.81.84.0
Uruguay3.82.4-9.2-1.6-15.5
Uzbekistan5.27.40.816.47.1
Venezuela-9.0-16.9-17.6-  -  
Vietnam5.39.39.49.9-  

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    March 22, 2019

    According to the Statistical Institute (Instituto Nacional de Estadísticas y Censos, INDEC), economic activity in the fourth quarter plummeted 6.2% in year-on-year terms, the weakest result in over nine years.

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    March 18, 2019

    According to comprehensive data released by the Central Bank, the economy grew 3.6% year-on-year in the fourth quarter, accelerating from a revised 2.6% increase in the third quarter (previously reported: +2.8% yoy).

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    March 15, 2019

    Economic activity grew a working-day adjusted 1.5% in January compared to the same month a year earlier, down from the revised 2.3% rise in December (previously reported: +2.7% year-on-year).

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