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 |
| Macedonia | 0.5 | 10.7 | 8.3 | 13.3 | -4.5 |
| 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 | - |
| 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
Argentina: Economic contraction sharpens in Q4 2018
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.
Chile: Growth accelerates in Q4 2018
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).
Finland: Economic growth moderates in January
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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