Uruguay - Gross capital formation (% of GDP)

Gross capital formation (% of GDP) in Uruguay was 17.00 as of 2020. Its highest value over the past 60 years was 34.11 in 1973, while its lowest value was 3.40 in 1970.

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.

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

See also:

Year Value
1960 22.07
1961 23.86
1962 19.59
1963 17.17
1964 14.33
1965 13.66
1966 16.51
1967 18.78
1968 13.86
1969 14.95
1970 3.40
1971 17.74
1972 17.16
1973 34.11
1974 15.85
1975 18.90
1976 20.96
1977 21.49
1978 22.71
1979 24.04
1980 17.35
1981 21.39
1982 19.80
1983 14.25
1984 12.13
1985 11.38
1986 11.18
1987 14.30
1988 14.67
1989 12.07
1990 12.20
1991 15.13
1992 15.38
1993 15.64
1994 15.87
1995 15.41
1996 15.24
1997 16.85
1998 17.34
1999 15.08
2000 14.46
2001 14.33
2002 13.07
2003 15.21
2004 17.47
2005 17.70
2006 19.46
2007 19.53
2008 23.21
2009 19.62
2010 19.41
2011 20.88
2012 22.92
2013 22.48
2014 21.20
2015 19.71
2016 17.45
2017 15.83
2018 14.95
2019 14.64
2020 17.00

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: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts