Pacific island small states - Gross capital formation (current US$)

The latest value for Gross capital formation (current US$) in Pacific island small states was $1,771,362,000 as of 2020. Over the past 40 years, the value for this indicator has fluctuated between $2,221,494,000 in 2017 and $288,667,400 in 1988.

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
1980 $540,710,200
1981 $605,256,900
1982 $457,580,300
1983 $365,226,100
1984 $340,634,500
1985 $338,932,400
1986 $370,574,300
1987 $340,048,200
1988 $288,667,400
1989 $317,450,800
1990 $366,793,200
1991 $396,719,000
1992 $359,809,900
1993 $450,638,800
1994 $465,277,000
1995 $513,167,200
1996 $625,768,500
1997 $642,808,200
1998 $744,691,300
1999 $721,505,000
2000 $533,864,800
2001 $499,440,300
2002 $613,628,800
2003 $819,235,400
2004 $869,949,600
2005 $1,049,148,000
2006 $1,067,005,000
2007 $1,105,021,000
2008 $1,570,509,000
2009 $1,272,335,000
2010 $1,471,419,000
2011 $1,704,133,000
2012 $1,561,142,000
2013 $2,160,965,000
2014 $1,736,175,000
2015 $1,997,716,000
2016 $1,961,399,000
2017 $2,221,494,000
2018 $2,118,173,000
2019 $2,037,035,000
2020 $1,771,362,000

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