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
United Kingdom: The economy flatlines in August, data for June and July revised upward
October 10, 2018
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity was unchanged in August over the prior month in seasonally-adjusted terms, undershooting market analysts’ expectations of 0.1% growth.
Guatemala: Economy grows at quickest pace since Q2 2016 in the second quarter
October 4, 2018
The Guatemalan economy picked up significant steam in the second quarter on the back of strong domestic demand, as the external sector weakened.
Ecuador: Economy grows at the weakest pace in one-and-a-half years in Q2
October 1, 2018
Ecuador’s economy lost steam again in the second quarter, with annual GDP growth falling to 0.9%, down from 1.6% in the first quarter as the government’s austerity drive restrained the pace of expansion through weaker domestic demand.
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