The annual growth of gross capital formation in the Philippines declined to 5.91 percent in 2023. The year marks a significant change in the annual growth compared to the previous year. Gross capital formation comprises expenses on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements, plant, machinery, and equipment purchases, and the construction of roads, railways, 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. The annual growth rate of gross capital formation is based on constant local currency.
According to The World Bank, 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.'
Figures have been rounded.
The source does not provide an exact publication date. The release date is the same as the accessed date.
Figures prior to 2010 came from previous reporting.
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World Bank. (September 19, 2024). Gross capital formation growth in the Philippines from 2009 to 2023 [Graph]. In Statista. Retrieved October 02, 2024, from https://www.statista.com/statistics/793990/gross-capital-formation-growth-philippines/
World Bank. "Gross capital formation growth in the Philippines from 2009 to 2023." Chart. September 19, 2024. Statista. Accessed October 02, 2024. https://www.statista.com/statistics/793990/gross-capital-formation-growth-philippines/
World Bank. (2024). Gross capital formation growth in the Philippines from 2009 to 2023. Statista. Statista Inc.. Accessed: October 02, 2024. https://www.statista.com/statistics/793990/gross-capital-formation-growth-philippines/
World Bank. "Gross Capital Formation Growth in The Philippines from 2009 to 2023." Statista, Statista Inc., 19 Sep 2024, https://www.statista.com/statistics/793990/gross-capital-formation-growth-philippines/
World Bank, Gross capital formation growth in the Philippines from 2009 to 2023 Statista, https://www.statista.com/statistics/793990/gross-capital-formation-growth-philippines/ (last visited October 02, 2024)
Gross capital formation growth in the Philippines from 2009 to 2023 [Graph], World Bank, September 19, 2024. [Online]. Available: https://www.statista.com/statistics/793990/gross-capital-formation-growth-philippines/