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 | -4.5 | 3.8 | 2.5 | 5.5 |
| Algeria | 8.6 | 6.4 | 5.7 | 3.5 | 3.4 |
| Angola | 1.6 | 3.5 | -1.9 | -6.2 | - |
| Argentina | 2.3 | -6.8 | 3.5 | -5.8 | 12.2 |
| Armenia | -7.0 | -2.2 | 2.5 | -11.4 | 9.7 |
| Australia | -1.7 | -1.9 | -3.6 | -2.3 | 3.3 |
| Austria | 1.6 | -0.4 | 2.3 | 4.3 | 3.9 |
| Bahrain | 16.9 | 5.9 | -8.5 | 10.8 | 11.0 |
| Belarus | 9.0 | -5.7 | -15.5 | -14.5 | 5.5 |
| Belgium | -1.5 | 5.8 | 2.7 | 3.8 | 1.8 |
| Bolivia | 11.7 | 9.9 | 5.0 | 3.4 | 11.8 |
| Bosnia and Herzegovina | -1.2 | 11.5 | -3.5 | 2.5 | 5.8 |
| Brazil | 5.8 | -4.2 | -13.9 | -12.1 | -2.5 |
| Bulgaria | 0.3 | 3.4 | 2.7 | -6.6 | 3.2 |
| Canada | 0.4 | 1.5 | -4.3 | -4.0 | 3.4 |
| Chile | 2.2 | -4.8 | -0.3 | -1.2 | -2.7 |
| China | 8.1 | 7.4 | 7.0 | 6.8 | 5.2 |
| Colombia | 6.0 | 9.9 | 2.8 | -2.9 | 1.9 |
| Costa Rica | -0.3 | 3.3 | 3.0 | 4.8 | -3.1 |
| Croatia | 1.4 | -2.8 | 3.8 | 6.5 | 3.8 |
| Cyprus | -16.6 | -19.0 | 13.8 | 41.8 | 29.0 |
| Czech Republic | -2.5 | 3.9 | 10.3 | -3.2 | 4.0 |
| Denmark | 2.7 | 3.1 | 5.5 | 7.6 | 4.6 |
| Dominican Republic | -2.5 | 9.3 | 18.9 | 12.3 | -0.3 |
| Ecuador | 10.4 | 2.3 | -6.2 | -8.9 | 5.3 |
| Egypt | - | - | - | - | - |
| El Salvador | 5.8 | -9.6 | 9.0 | 3.6 | 2.9 |
| Estonia | 1.5 | -2.6 | -7.7 | 2.9 | 12.5 |
| Eurozone | -2.3 | 1.7 | 4.7 | 3.9 | 4.0 |
| Finland | -4.9 | -2.6 | 0.7 | 8.6 | 5.2 |
| France | -0.7 | 0.0 | 0.9 | 2.5 | 5.0 |
| Germany | -1.3 | 3.9 | 1.6 | 3.5 | 2.9 |
| Ghana | -26.1 | -1.1 | -2.7 | 12.2 | -1.8 |
| Greece | -8.3 | -4.6 | 0.6 | 4.6 | 9.4 |
| 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 | -7.4 | 9.2 |
| Hong Kong | 2.6 | -0.1 | -3.2 | -0.1 | 2.9 |
| Hungary | 9.8 | 12.3 | 4.7 | -11.7 | 18.2 |
| Iceland | 2.2 | 15.9 | 21.3 | 17.8 | 11.6 |
| India | 1.6 | 2.6 | 6.5 | 8.3 | 9.3 |
| Indonesia | 5.0 | 4.4 | 5.0 | 4.5 | 6.2 |
| Iraq | - | - | - | - | - |
| Ireland | -3.8 | 18.5 | 52.6 | 50.8 | -6.8 |
| Israel | 3.8 | 0.8 | 0.2 | 12.8 | 2.9 |
| Italy | -6.6 | -2.2 | 1.9 | 3.7 | 4.5 |
| Jamaica | 5.6 | 3.0 | -4.8 | 0.1 | 4.6 |
| Japan | 4.9 | 3.1 | 1.6 | -0.3 | 2.9 |
| Kazakhstan | 5.5 | 4.4 | 4.2 | 3.0 | 4.0 |
| Kenya | 2.1 | 14.2 | 6.6 | -9.2 | 6.4 |
| Korea | 2.8 | 3.1 | 5.4 | 6.6 | 9.8 |
| Kosovo | 3.1 | -2.7 | 13.4 | 10.9 | -9.4 |
| Kuwait | - | - | - | - | - |
| Latvia | -6.0 | 0.1 | -0.5 | -8.4 | 13.1 |
| Lithuania | 8.3 | 5.8 | 4.9 | 0.3 | 6.8 |
| Luxembourg | 1.2 | 9.5 | -9.9 | 10.4 | 4.0 |
| Malaysia | 8.1 | 4.8 | 3.6 | 2.6 | 6.1 |
| Malta | 1.3 | 7.0 | 55.7 | -0.3 | -7.5 |
| Mexico | -3.4 | 3.1 | 5.0 | 1.0 | -1.6 |
| Morocco | -0.5 | -1.3 | 0.2 | 8.8 | -0.2 |
| Mozambique | 11.0 | 12.4 | -16.8 | -9.4 | -5.8 |
| Netherlands | -1.6 | -2.4 | 29.0 | -7.3 | 4.2 |
| New Zealand | 7.9 | 9.2 | 3.8 | 4.3 | 3.5 |
| Nicaragua | 3.5 | -0.4 | 27.7 | -0.3 | -5.1 |
| Nigeria | 4.2 | 13.4 | -1.3 | -4.8 | -3.0 |
| North Macedonia | 0.5 | 10.7 | 8.3 | 12.5 | 0.8 |
| Norway | 6.3 | -0.3 | -4.0 | 5.2 | 3.6 |
| Oman | 12.4 | 2.4 | -1.2 | 16.5 | -3.9 |
| Panama | 21.1 | 8.7 | 6.5 | 2.0 | 7.0 |
| Paraguay | 7.9 | 7.1 | -2.1 | 2.0 | 5.9 |
| Peru | 7.9 | -2.3 | -4.7 | -4.3 | -0.2 |
| Philippines | 11.8 | 7.2 | 16.9 | 26.1 | 9.4 |
| Poland | -1.1 | 10.0 | 6.1 | -8.2 | 4.0 |
| Portugal | -5.1 | 2.3 | 5.8 | 2.3 | 9.2 |
| Qatar | 6.4 | 11.3 | 1.6 | 22.5 | 1.3 |
| Romania | -5.8 | 3.3 | 7.2 | 0.0 | 3.3 |
| Russia | 1.3 | -1.8 | -10.7 | 1.0 | 5.2 |
| Saudi Arabia | 5.6 | 7.5 | 3.7 | -14.3 | 0.7 |
| Serbia | -12.0 | -3.4 | 4.9 | 5.4 | 7.3 |
| Singapore | 6.2 | 4.2 | 2.0 | 1.1 | 6.4 |
| Slovakia | -0.9 | 3.0 | 21.9 | -9.4 | 3.4 |
| Slovenia | 3.2 | 1.0 | -1.6 | -3.7 | 10.7 |
| South Africa | 7.2 | 0.7 | 2.5 | -3.5 | 1.0 |
| Spain | -3.4 | 4.7 | 6.7 | 2.9 | 4.8 |
| Sweden | 0.6 | 5.4 | 6.7 | 4.2 | 6.0 |
| Switzerland | 0.6 | 3.0 | 2.3 | 3.4 | 3.3 |
| Taiwan | 5.3 | 2.1 | 1.6 | 2.4 | -0.1 |
| Tajikistan | - | - | - | - | - |
| Tanzania | 17.5 | 7.2 | 7.1 | 16.0 | 15.8 |
| Thailand | -1.0 | -2.2 | 4.4 | 2.9 | 1.8 |
| Trinidad and Tobago | 10.9 | 4.6 | -31.5 | - | - |
| Tunisia | 0.2 | -2.9 | -0.5 | 1.1 | 0.3 |
| Turkey | 13.8 | 5.1 | 9.3 | 2.2 | 7.8 |
| USA | 5.6 | 6.3 | 3.4 | 1.7 | 4.8 |
| Ukraine | -8.4 | -24.0 | -9.2 | 20.4 | 16.1 |
| United Arab Emirates | -5.7 | 10.9 | 4.3 | 8.8 | -8.2 |
| United Kingdom | 3.4 | 7.2 | 3.4 | 2.3 | 3.5 |
| Uruguay | 3.8 | 2.4 | -9.2 | -1.6 | -15.7 |
| Uzbekistan | 5.2 | 7.4 | 0.8 | 16.4 | 7.1 |
| Venezuela | -9.0 | -16.9 | -20.4 | -45.1 | -45.3 |
| Vietnam | 5.3 | 9.3 | 9.4 | 9.9 | 10.2 |
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Investment Economic News
Angola: Economy contracts again in Q2
October 15, 2019
The economy contracted 0.1% on an annual basis in the second quarter, following the previous quarter’s revised 0.3% dip (previously reported: -0.4% year-on-year), according to national accounts data released by Angola’s Statistical Institute (INE) on 15 October. The all-important Angolan oil sector, which accounts for around one-third of GDP, once again drove the overall contraction amid sliding domestic oil production.
United Kingdom: Economy contracts in August, but still set to avoid recession in Q3
October 10, 2019
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity shrank 0.1% in August over the previous month in seasonally-adjusted terms.
Romania: Second release confirms economic growth moderated in Q2
October 10, 2019
GDP grew 4.4% year-on-year in the second quarter (Q1: +5.0% year-on-year), according to a second release published by Romania’s Statistical Institute on 10 October.
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