Guyana - Gross capital formation (current US$)

The latest value for Gross capital formation (current US$) in Guyana was $204,444,800 as of 2005. Over the past 45 years, the value for this indicator has fluctuated between $238,884,700 in 1997 and $29,691,420 in 1963.

Definition: Gross capital formation (formerly gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and "work in progress." According to the 1993 SNA, net acquisitions of valuables are also considered capital formation. Data are in current U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 $48,124,600
1961 $44,566,300
1962 $32,433,060
1963 $29,691,420
1964 $31,266,410
1965 $47,411,760
1966 $54,588,240
1967 $64,588,240
1968 $51,150,000
1969 $51,900,000
1970 $60,950,000
1971 $52,550,000
1972 $56,619,050
1973 $83,571,430
1974 $114,590,900
1975 $163,583,300
1976 $170,200,000
1977 $130,800,000
1978 $104,000,000
1979 $164,400,000
1980 $197,600,000
1981 $178,928,600
1982 $120,333,300
1983 $104,666,700
1984 $120,000,000
1985 $162,325,600
1986 $202,558,100
1987 $110,306,100
1988 $87,500,000
1989 $84,448,530
1990 $123,468,300
1991 $138,587,700
1992 $193,329,100
1993 $183,584,800
1994 $147,241,700
1995 $206,558,400
1996 $224,722,700
1997 $238,884,700
1998 $207,515,300
1999 $173,674,500
2000 $169,443,800
2001 $153,617,000
2002 $151,474,600
2003 $155,687,600
2004 $185,496,300
2005 $204,444,800

Limitations and Exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Data on capital formation may be estimated from direct surveys of enterprises and administrative records or based on the commodity flow method using data from production, trade, and construction activities. The quality of data on government fixed capital formation depends on the quality of government accounting systems (which tend to be weak in developing countries). Measures of fixed capital formation by households and corporations - particularly capital outlays by small, unincorporated enterprises - are usually unreliable. Estimates of changes in inventories are rarely complete but usually include the most important activities or commodities. In some countries these estimates are derived as a composite residual along with household final consumption expenditure. According to national accounts conventions, adjustments should be made for appreciation of the value of inventory holdings due to price changes, but this is not always done. In highly inflationary economies this element can be substantial.

Statistical Concept and Methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.

Aggregation method: Gap-filled total

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts