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List of countries by gross fixed capital formation

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Map of countries by Gross fixed capital formation (% of GDP), 2023, according to World Bank

This is the list of countries by gross fixed capital formation (GFCP), formerly known as gross fixed investment. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1.

According to World Bank, gross fixed capital formation (formerly gross domestic fixed investment) includes 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. According to the 1993 SNA, net acquisitions of valuables are also considered capital formation.

The following table shows the most recent values (for 2023) as well as three previous ones (if available) of gross fixed capital formation, expressed in millions of current US dollars and as percentage of GDP, based on data published by World Bank. Sorting is alphabetical by country code, according to ISO 3166-1 alpha-3.

Country/Territory/Region/Group 2023 2022 2021 2020
mil US$ % of
GDP		 mil US$ % of
GDP		 mil US$ % of
GDP		 mil US$ % of
GDP
 Afghanistan 2417.29 N/A 2417.29  16.7% 1852.75  13.0% 2286.08  11.5%
 Angola 22547.32  26.6% 27411.22  26.3% 17582.20  26.4% 12848.26  26.5%
 Albania 5596.11  24.4% 4518.55  23.9% 4366.74  24.4% 3434.28  22.6%
 United Arab Emirates 70613.02 N/A N/A N/A N/A N/A 70613.02  20.2%
 Argentina 122191.26  19.1% 112873.85  17.9% 85997.16  17.6% 55093.41  14.3%
 Armenia 5027.19  20.8% 3954.57  20.3% 2942.88  21.2% 2246.93  17.8%
 Australia 399731.45  23.2% 389721.18  23.0% 350131.99  22.5% 301319.72  22.6%
 Austria 126152.43  24.4% 119134.59  25.3% 123789.44  25.8% 108668.79  25.0%
 Azerbaijan 10745.24  14.9% 9466.06  12.0% 8896.59  16.2% 9677.00  22.7%
 Burundi 343.15  13.0% 446.95  13.4% 363.98  13.1% 303.28  11.4%
 Belgium 155473.89  24.6% 139432.06  23.9% 143822.88  23.9% 126896.50  24.1%
 Benin 7883.69  40.1% 6296.32  36.1% 5031.68  28.4% 3954.08  25.2%
 Burkina Faso 3491.49  17.2% 3065.86  16.3% 3489.50  17.8% 3147.41  17.8%
 Bangladesh 135385.29  31.0% 147459.67  32.0% 129122.21  31.0% 117085.25  31.3%
 Bulgaria 17578.93  17.3% 15412.59  17.1% 13738.71  16.3% 13421.20  19.1%
 Bahrain 9669.88 N/A N/A N/A 9669.88  24.6% 10004.12  28.9%
 Bahamas 2789.80  19.5% 2707.20  20.6% 2632.20  23.2% 2292.10  23.0%
 Bosnia and Herzegovina 5421.75 N/A 5421.75  22.1% 5079.19  21.5% 4472.31  22.1%
 Belarus 15702.16  21.9% 14347.59  19.4% 15726.31  22.6% 15567.06  25.4%
 Belize 674.00  20.5% 588.64  20.8% 486.01  20.0% 352.64  17.2%
 Bermuda 945.18 N/A 945.18  12.1% 940.63  12.9% 842.87  12.2%
 Bolivia 8037.39  17.5% 7411.90  16.8% 6719.66  16.6% 5704.05  15.6%
 Brazil 359497.14  16.5% 347450.32  17.8% 299344.08  17.9% 244458.44  16.6%
 Barbados 963.49 N/A 963.49  16.5% 840.77  17.0% 839.74  17.6%
 Brunei 4441.79  29.4% 4283.49  25.7% 4353.83  31.1% 4847.66  40.4%
 Bhutan 1600.35 N/A 1600.35  55.2% 1221.44  44.1% 949.70  38.6%
 Botswana 4976.54  25.7% 4961.03  24.4% 4948.93  26.4% 4133.64  27.6%
 Central African Republic 372.97  14.6% 355.78  14.9% 395.67  15.7% 425.76  18.3%
 Canada 489439.05  22.9% 503411.01  23.3% 485358.65  24.2% 383857.86  23.2%
 Switzerland 229471.13  25.9% 214840.73  26.3% 214223.97  26.3% 200294.65  27.0%
 Chile 79970.56  23.8% 76417.62  25.3% 73551.65  23.3% 57327.17  22.6%
 China 7493287.23 N/A 7493287.23  41.9% 7475906.23  42.0% 6240246.52  42.5%
 Ivory Coast 20069.72  25.5% 17678.28  25.2% 15328.50  21.1% 12822.87  20.3%
 Cameroon 8390.46  17.5% 7866.13  18.0% 8187.53  18.2% 7417.59  18.2%
 Democratic Republic of the Congo 21022.89  31.7% 20438.00  31.1% 15027.81  27.2% 11826.85  24.3%
 Republic of the Congo 3815.64  24.9% 3272.63  20.7% 3282.21  22.1% 2667.13  23.3%
 Colombia 64075.02  17.6% 65729.61  19.0% 60486.97  19.0% 49641.57  18.4%
 Comoros 171.98  12.7% 161.05  13.0% 172.27  13.3% 134.23  11.0%
 Costa Rica 14001.12  16.2% 11737.05  17.0% 10956.46  16.9% 10088.22  16.2%
 Cuba 10536.00 N/A N/A  11.5% N/A  10.5% 10536.00  9.8%
 Curaçao 1037.21 N/A N/A N/A N/A N/A N/A N/A
 Cyprus 7112.57  22.1% 5989.43  20.5% 5736.56  19.5% 5330.00  21.1%
 Czech Republic 89187.93  27.0% 77868.35  26.8% 73288.58  26.0% 65299.90  26.5%
 Germany 977692.82  21.9% 901613.93  22.1% 911297.86  21.3% 837444.48  21.5%
 Djibouti 1206.28  29.4% 1084.66  29.5% 1006.24  29.7% 945.38  29.7%
 Denmark 87937.18  21.8% 86996.26  21.7% 89707.43  22.1% 78611.15  22.2%
 Dominican Republic 39125.67  32.2% 37669.29  33.2% 29209.31  31.0% 21560.60  27.3%
 Algeria 79603.00  33.2% 67979.45  30.1% 65306.63  35.1% 64448.72  39.1%
 Ecuador 23356.46  19.7% 23466.91  20.1% 20493.16  19.1% 17251.42  18.0%
 Egypt 72498.48 N/A 72498.48  15.2% 56246.02  13.2% 54254.52  14.1%
 Spain 304828.01  19.3% 284649.58  20.1% 290609.94  20.1% 261028.36  20.4%
 Estonia 10829.51  26.6% 10435.19  27.5% 10751.32  29.2% 9336.63  29.8%
 Ethiopia 36294.22  22.2% 32127.03  25.3% 31181.47  28.0% 32920.62  30.6%
 Finland 70105.13  23.4% 68068.01  24.1% 70013.50  23.6% 65369.03  24.0%
 Fiji 969.61  17.6% 917.43  18.4% 812.70  18.9% 850.83  19.2%
 France 751586.58  24.8% 700271.03  25.2% 724071.25  24.5% 616166.83  23.3%
 Gabon 3499.89  17.1% 3280.11  15.6% 3394.43  16.8% 3047.51  19.9%
 United Kingdom 610175.59  18.3% 566285.01  18.3% 555448.32  17.7% 471138.72  17.5%
 Georgia 6554.73  21.5% 4934.49  19.8% 3913.55  20.8% 3559.67  22.2%
 Ghana 8165.52  10.7% 11375.97  15.3% 13323.24  16.8% 12370.13  17.7%
 Guinea 5572.81  23.6% 3149.67  15.0% 2376.00  14.8% 2335.26  16.5%
 Gambia 918.41  39.3% 717.91  33.0% 611.69  30.4% 498.50  27.5%
 Guinea-Bissau 467.77  23.8% 363.70  21.2% 329.51  19.1% 325.38  21.4%
 Equatorial Guinea 1308.45  10.8% 1173.89  8.7% 984.22  8.1% N/A N/A
 Greece 33069.55  13.9% 29797.58  13.7% 28580.77  13.3% 22775.32  12.1%
 Greenland 1078.70 N/A N/A N/A 1078.70  33.3% 979.74  31.8%
 Guatemala 16894.37  16.6% 15923.51  16.8% 13942.01  16.2% 10649.48  13.7%
 Hong Kong 63631.23  16.7% 57643.34  16.1% 62143.12  16.8% 58744.78  17.0%
 Honduras 8327.04  24.2% 7068.06  22.5% 6379.25  22.7% 4269.74  18.3%
 Croatia 16015.94  19.4% 14057.19  19.5% 14539.83  20.9% 12811.61  22.0%
 Haiti 2750.07  13.9% 3212.65  15.9% 3780.06  18.1% 3302.89  22.8%
 Hungary 55959.63  26.3% 49358.17  27.9% 49599.86  27.2% 41706.61  26.5%
 Indonesia 402162.53  29.3% 383658.94  29.1% 365376.11  30.8% 335823.71  31.7%
 India 1112167.28  31.3% 1031187.55  30.7% 936816.40  29.6% 730885.04  27.3%
 Ireland 127500.23  23.4% 115335.20  21.6% 114656.34  22.3% 180345.55  42.1%
 Iran 108109.60  26.9% 102200.44  24.7% 96392.06  26.8% 68262.04  28.5%
 Iraq 21224.03 N/A N/A N/A 21224.03  10.1% 14054.16  7.8%
 Iceland 7350.99  23.7% 6896.22  24.0% 5877.26  22.8% 4589.51  21.2%
 Israel 122423.49  24.0% 128979.55  24.6% 114850.92  23.5% 92310.75  22.3%
 Italy 477315.76  21.2% 447697.94  21.7% 439821.85  20.4% 340953.31  18.0%
 Jamaica 3814.15 N/A N/A N/A N/A N/A N/A N/A
 Jordan 10260.56 N/A N/A N/A 10260.56  22.2% 8254.93  18.9%
 Japan 1105065.82 N/A 1105065.82  26.0% 1281708.05  25.5% 1288867.60  25.5%
 Kazakhstan 48165.68 N/A 48165.68  21.4% 45412.64  23.0% 42289.14  24.7%
 Kenya 19068.21  17.7% 21230.16  18.7% 21596.54  19.7% 19448.62  19.3%
 Kyrgyzstan 2606.12 N/A 2606.12  21.5% 2232.69  24.1% 2145.15  25.9%
 Cambodia 4860.63  15.3% 6494.45  22.0% 6168.00  22.9% 6215.76  24.0%
 South Korea 550840.67  32.2% 538487.90  32.2% 575507.34  31.6% 514676.27  31.3%
 Lebanon 257.19 N/A 257.19  1.2% 1239.75  5.4% 2568.10  8.1%
 Libya 12326.74 N/A N/A N/A N/A N/A N/A N/A
 Sri Lanka 14836.94  17.6% 17636.90  23.8% 23344.78  26.3% 21551.60  25.6%
 Lesotho 642.11 N/A 642.11  28.0% 619.19  25.7% 499.29  24.3%
 Lithuania 18130.42  23.3% 15197.73  21.4% 14499.73  21.7% 12180.19  21.4%
 Luxembourg 15548.44  18.1% 14299.39  17.5% 15561.05  18.2% 12303.04  16.7%
 Latvia 10520.71  24.1% 8900.99  22.0% 8824.91  22.4% 7712.27  22.4%
 Macau 6373.25  13.5% 5570.47  22.8% 6895.48  22.3% 6715.93  26.5%
 Morocco 38082.29  27.0% 35511.96  27.1% 37338.89  26.3% 31825.83  26.2%
 Moldova 3250.42  19.7% 3270.05  22.5% 3298.15  24.1% 2875.58  24.9%
 Madagascar 3253.73  20.3% 2984.33  19.5% 3371.78  23.2% 2548.71  19.5%
 Mexico 436588.31  24.4% 327255.80  22.4% 278630.82  21.2% 225038.41  20.1%
 Marshall Islands 51.34 N/A 51.34  19.8% 50.30  19.5% 48.23  20.0%
 North Macedonia 3283.83 N/A N/A N/A 3283.83  23.5% 2668.90  21.6%
 Mali 4200.12  20.1% 3726.80  19.8% 3890.21  20.1% 3469.24  19.9%
 Malta 3885.13  18.5% 4595.99  25.0% 3682.78  20.3% 3040.94  19.9%
 Montenegro 1425.50  19.3% 1340.28  21.5% 1296.66  22.1% 1328.91  27.9%
 Mongolia 5440.98  27.4% 5111.97  29.8% 4102.17  26.8% 3138.96  23.6%
 Mauritania 2862.95  27.4% 2527.97  25.9% 2612.52  28.3% 2041.17  24.7%
 Mauritius 3386.36  23.5% 2553.17  19.7% 2250.30  19.6% 1954.82  17.1%
 Malaysia 76816.92  19.2% 74133.97  18.2% 72028.93  19.3% 70575.64  20.9%
 Namibia 3240.12  26.2% 2102.12  16.7% 1987.65  16.0% 1446.31  13.7%
 New Caledonia 2558.93 N/A N/A N/A N/A N/A N/A N/A
 Niger 4448.13  26.4% 4571.63  29.6% 4256.53  28.5% 3893.40  28.3%
 Nicaragua 3788.16  21.2% 3353.76  21.4% 3281.23  23.2% 2304.72  18.2%
 Netherlands 229141.37  20.5% 210470.73  20.9% 218103.23  21.2% 197527.97  21.7%
 Norway 113590.94  23.4% 116895.41  19.7% 115502.10  22.9% 100865.95  27.4%
 Nepal 10258.56  25.1% 11934.85  29.0% 10832.21  29.3% 10186.98  30.5%
 New Zealand 62585.62 N/A 62585.62  25.4% 62594.43  24.7% 49038.35  23.1%
 Oman 22594.21 N/A N/A N/A 22594.21  25.6% 23968.04  31.6%
 Pakistan 40603.51  12.0% 51257.69  13.7% 44696.19  12.8% 39372.40  13.1%
 Panama 22584.89 N/A 22584.89  29.5% 18446.12  27.4% 13451.58  23.6%
 Peru 56876.84  21.3% 57287.52  23.2% 52259.81  23.1% 40164.05  19.9%
 Philippines 103253.48  23.6% 94400.20  23.3% 87799.82  22.3% 77061.18  21.3%
 Palau 93.66 N/A 93.66  38.7% 84.86  36.9% 110.60  42.3%
 Poland 144078.49  17.8% 113305.61  16.4% 114542.60  16.8% 109773.93  18.3%
 Puerto Rico 16183.00  13.7% 14979.70  13.2% 13300.00  12.5% 10706.50  10.4%
 Portugal 55655.31  19.4% 51247.19  20.1% 51614.23  20.2% 43985.75  19.2%
 Paraguay 8830.75  20.6% 9279.87  22.1% 9162.66  22.9% 7044.78  19.9%
 Palestine 4305.60  24.8% 4795.20  25.0% 4323.50  23.9% 3528.60  22.7%
 French Polynesia 1265.48 N/A 1265.48  21.8% 1319.39  21.5% 1292.13  22.3%
 Romania 94333.67  26.9% 73895.97  24.7% 69315.46  24.3% 59146.25  23.5%
 Russia 441932.98  21.9% 462301.63  20.4% 353990.19  19.2% 321905.97  21.6%
 Rwanda 3818.45  27.1% 3271.17  24.6% 2949.42  26.6% 2577.23  25.3%
 Saudi Arabia 297794.40  27.9% 273137.07  24.6% 212401.07  24.3% 176945.60  24.1%
 Sudan 2205.52  2.0% 1125.44  2.2% 1186.33  3.5% 1564.37  5.8%
 Senegal 11919.00  38.4% 9815.82  35.5% 9348.45  34.0% 7470.32  30.5%
 Singapore 111270.38  22.2% 103270.70  20.7% 96569.29  22.2% 73153.24  20.9%
 Solomon Islands 382.27 N/A 382.27  24.4% 286.19  18.8% 288.94  18.8%
 Sierra Leone 436.24  11.5% 463.57  11.3% 457.54  10.8% 474.29  11.7%
 El Salvador 7492.52  22.0% 6940.03  21.7% 6112.14  21.0% 4350.12  17.5%
 San Marino 325.01 N/A N/A N/A 325.01  17.5% 292.25  19.0%
 Somalia 2960.63  25.3% 2698.88  25.9% 1869.92  19.0% 1440.41  15.6%
 Serbia 17069.72  22.7% 15353.90  24.2% 14682.27  23.3% 11439.40  21.4%
 Slovakia 29168.22  22.0% 23543.58  20.4% 22787.30  19.2% 20805.76  19.5%
 Slovenia 15347.32  22.5% 12983.52  21.6% 12515.28  20.2% 10157.28  18.9%
 Sweden 158193.64  26.7% 160209.59  27.1% 163714.81  25.6% 137395.61  25.1%
 Eswatini 564.73 N/A 564.73  11.8% 660.95  13.6% 488.34  12.3%
 Seychelles 344.16  16.1% 314.28  15.3% 244.90  16.5% 294.78  21.3%
 Syria 781.58 N/A N/A N/A 781.58  8.7% 766.92  6.9%
 Chad 3386.67  25.8% 1856.30  15.0% 2235.05  19.0% 2202.56  20.6%
 Togo 2105.22  23.0% 1749.84  21.4% 1657.11  19.9% 1578.55  21.3%
 Thailand 118265.81  23.0% 115788.45  23.4% 118935.92  23.5% 116169.36  23.2%
 Tajikistan 3396.76 N/A 3396.76  31.7% 2857.43  32.0% 2242.83  27.6%
 Turkmenistan 10331.49 N/A 10331.49  18.3% 9049.46  18.1% 10242.80  22.4%
 Timor-Leste 321.43 N/A 321.43  10.0% 514.14  14.2% 296.30  13.7%
 Tonga 109.03 N/A N/A N/A 109.03  23.2% 112.62  23.2%
 Trinidad and Tobago 4853.48 N/A N/A N/A 4853.48  19.8% 4401.46  21.2%
 Tunisia 8215.91  16.9% 7339.11  16.5% 7463.89  15.9% 6733.07  15.8%
 Turkey 358685.01  32.4% 264542.26  29.2% 230976.19  28.2% 198253.21  27.5%
 Tanzania 33225.59  42.0% 32444.97  42.8% 29293.54  41.5% 26780.46  40.5%
 Uganda 11105.72  22.5% 10683.97  23.4% 9459.48  23.3% 8842.81  23.5%
 Ukraine 30204.78  16.9% 19227.33  11.9% 26378.58  13.2% 20933.49  13.4%
 Uruguay 13416.94  17.4% 13455.02  19.2% 10761.52  17.7% 8268.89  15.4%
 United States 5476099.00 N/A 5476099.00  21.3% 5031365.00  21.3% 4602390.00  21.6%
 Uzbekistan 31630.19  34.8% 25401.67  31.3% 23810.14  34.2% 22037.20  36.6%
 Vietnam 126318.23 N/A 126318.23  30.8% 113734.91  31.0% 104947.68  30.3%
 Vanuatu 566.83 N/A 566.83  55.5% 517.15  54.4% 420.86  46.3%
 Samoa 324.01  34.7% 268.51  32.2% 276.84  32.8% 283.08  32.6%
 Kosovo 3297.38  31.6% 3040.79  32.5% 3095.20  32.9% 2292.47  29.7%
 Yemen 1259.45 N/A N/A N/A N/A N/A N/A N/A
 South Africa 57246.74  15.2% 57590.64  14.2% 55387.13  13.2% 46712.08  13.8%
 Zambia 7321.37 N/A 7321.37  25.1% 6299.80  28.5% 5409.20  29.8%
 Zimbabwe 3099.81 N/A 3099.81  11.3% 3520.04  12.4% 2160.88  10.0%
United Nations WORLD 26429571.55 N/A 26429571.55  26.1% 25537858.95  26.2% 22290969.73  26.0%
SIDS (Small Island Developing States) N/A  N/A N/A  N/A N/A  N/A N/A N/A
SIDS: Pacific 2685.97 N/A 2685.97  26.0% 2389.11  25.2% 2364.63  24.9%
LDCs (Least developed countries) 405182.38  26.9% 408156.93  28.7% 357127.97  28.2% 323127.80  27.8%
Low & middle income economies (WB) 12044640.04 N/A 12044640.04  33.1% 11626025.08  33.5% 9737010.34  33.0%
Low-income economies (WB) 125054.63  19.3% 111810.45  21.1% 101433.29  21.7% 96357.16  21.9%
Middle-income economies (WB) 11922447.31 N/A 11922447.31  33.2% 11513707.26  33.6% 9632993.19  33.2%
Lower middle income economies (WB) 2179717.25  29.5% 2085101.25  28.4% 1893194.58  27.5% 1570737.45  25.8%
Upper middle income economies (WB) 9803097.83 N/A 9803097.83  34.3% 9572740.81  35.0% 8020717.80  34.9%
High-income economies (WB) 14355722.27 N/A 14355722.27  22.3% 13883410.17  22.2% 12522541.80  22.4%
European Union 4082348.82  22.2% 3754767.37  22.4% 3799187.49  21.9% 3400194.23  22.1%
OECD 13495765.98 N/A 13495765.98  22.4% 13139344.27  22.3% 11856142.20  22.4%

Note: Data are in millions of current US dollars.

References

  1. World Bank. "Metadata Glossary | Gross fixed capital formation (% of GDP)". Retrieved 7 October 2024.
  2. United Nations Statistics Division. "System of National Accounts 1993 - 1993 SNA". Retrieved 7 October 2024.
  3. World Bank. "Gross fixed capital formation (current US$)". Retrieved 7 October 2024.
  4. World Bank. "Gross fixed capital formation (% of GDP)". Retrieved 7 October 2024.
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