Capital investment, percent of GDP - Country rankings

* indicates monthly or quarterly data series

Capital investment as percent of GDP, 2023:

The average for 2023 based on 168 countries was 23.37 percent. The highest value was in Bhutan: 45.27 percent and the lowest value was in Djibouti: -3.74 percent. The indicator is available from 1960 to 2025. Below is a chart for all countries where data are available.

Measure: percent; Source: The World Bank
Select indicator
* indicates monthly or quarterly data series


Countries Capital investment, percent of GDP, 2023 Global rank Available data
Bhutan 45.27 1 1980 - 2024
Mauritania 44.54 2 1961 - 2025
Iran 43.77 3 1960 - 2025
Senegal 42.31 4 1965 - 2025
China 41.13 5 1960 - 2024
Tanzania 41 6 1990 - 2025
Rwanda 38.36 7 1960 - 2025
Algeria 37.62 8 1960 - 2025
Panama 37.49 9 1960 - 2024
Samoa 36.07 10 2009 - 2025
Palau 35.7 11 2005 - 2024
Turkey 34.59 12 1960 - 2025
Benin 34.53 13 1960 - 2025
India 34.5 14 1960 - 2025
Kyrgyzstan 34.46 15 1987 - 2025
DR Congo 34.08 16 1991 - 2025
Mongolia 33.9 17 1981 - 2025
Cambodia 33.29 18 1993 - 2025
Maldives 33.05 19 2014 - 2024
Uzbekistan 33.03 20 1992 - 2025
South Korea 31.89 21 1960 - 2025
Vietnam 31.67 22 1995 - 2025
Tajikistan 31.65 23 1993 - 2024
Zambia 31.45 24 2010 - 2024
Faroe Isl. 31.38 25 1998 - 2024
Nepal 31.15 26 1965 - 2025
Bangladesh 30.95 27 1960 - 2025
Indonesia 30.34 28 1960 - 2025
Botswana 30.14 29 1960 - 2025
Niger 30.11 30 1960 - 2025
Saudi Arabia 29.76 31 1968 - 2025
Brunei 29.63 32 1989 - 2025
North Macedonia 29.63 33 1990 - 2025
Bahrain 29.17 34 1980 - 2024
Morocco 29 35 1960 - 2025
Switzerland 28.55 36 1970 - 2025
Czechia 28.22 37 1990 - 2025
Kazakhstan 28.16 38 1992 - 2024
Namibia 28.1 39 1980 - 2025
Domin. Rep. 27.81 40 1960 - 2025
Japan 27.78 41 1970 - 2024
Gambia 27.45 42 1966 - 2025
Russia 27.3 43 1988 - 2025
Lesotho 27.07 44 1960 - 2025
Bosnia & Herz. 27.04 45 1995 - 2025
Ireland 26.66 46 1970 - 2025
Oman 26.66 47 1967 - 2024
UA Emirates 26.64 48 2001 - 2023
Israel 26.4 49 1970 - 2025
Romania 26.21 50 1990 - 2025
G.-Bissau 26.19 51 1970 - 2025
Hungary 26.19 52 1991 - 2025
Austria 26 53 1970 - 2025
Tonga 25.93 54 1975 - 2024
N. Caledonia 25.56 55 1981 - 2024
Montenegro 25.45 56 2000 - 2025
Iceland 25.42 57 1970 - 2025
Belgium 25.3 58 1970 - 2025
Sweden 25.26 59 1960 - 2025
R. of Congo 25.21 60 1960 - 2025
Estonia 25.13 61 1993 - 2025
Palestine 25.08 62 1994 - 2025
Georgia 25 63 1980 - 2025
Kiribati 24.74 64 2006 - 2024
Belarus 24.71 65 1990 - 2025
Latvia 24.69 66 1995 - 2025
Serbia 24.62 67 1995 - 2025
Croatia 24.56 68 1995 - 2025
Ivory Coast 24.54 69 1960 - 2025
Seychelles 24.35 70 1976 - 2025
Sri Lanka 24.27 71 1960 - 2025
New Zealand 24.09 72 1970 - 2024
Australia 23.87 73 1960 - 2025
C.A. Republic 23.75 74 1960 - 2025
Canada 23.64 75 1961 - 2025
Denmark 23.64 76 1966 - 2025
Norway 23.61 77 1970 - 2025
Somalia 23.61 78 1960 - 2025
Albania 23.44 79 1980 - 2024
Guinea 23.43 80 1986 - 2025
Philippines 23.41 81 1981 - 2025
Chile 23.33 82 1960 - 2025
Mexico 23.31 83 1960 - 2025
Italy 23.07 84 1970 - 2025
Finland 23.02 85 1970 - 2025
Armenia 22.94 86 1990 - 2025
France 22.93 87 1960 - 2025
Bahamas 22.86 88 1977 - 2024
Uganda 22.82 89 1960 - 2025
Malaysia 22.8 90 1960 - 2025
Lithuania 22.65 91 1995 - 2025
Slovenia 22.51 92 1990 - 2025
Thailand 22.39 93 1960 - 2025
Togo 22.39 94 1963 - 2023
Vanuatu 22.27 95 1983 - 2024
Honduras 22.19 96 1960 - 2025
Ethiopia 22.17 97 1981 - 2025
Nicaragua 22.15 98 1960 - 2025
Germany 21.99 99 1970 - 2025
Cape Verde 21.73 100 2007 - 2025
Mali 21.67 101 1967 - 2025
USA 21.57 102 1970 - 2024
El Salvador 21.5 103 1965 - 2025
Cyprus 21.47 104 1975 - 2025
Madagascar 21.42 105 1960 - 2025
Solomon Isl. 21.22 106 1980 - 2024
Singapore 21.13 107 1960 - 2025
Spain 21.12 108 1970 - 2025
Swaziland 20.83 109 2013 - 2024
Ecuador 20.73 110 1960 - 2025
Portugal 20.5 111 1970 - 2025
Iraq 20.29 112 1970 - 2024
Paraguay 20.27 113 1962 - 2025
Burkina Faso 20.26 114 1960 - 2025
Moldova 20.08 115 1995 - 2025
Netherlands 20.08 116 1969 - 2025
Mauritius 19.92 117 1976 - 2025
Malta 19.87 118 1970 - 2025
Fiji 19.8 119 1980 - 2024
Bulgaria 19.79 120 1980 - 2025
Slovakia 19.73 121 1990 - 2025
Sierra Leone 19.71 122 1980 - 2025
Peru 19.57 123 1960 - 2025
Mozambique 19.53 124 1991 - 2025
Argentina 19.38 125 1960 - 2025
Cameroon 19.29 126 1965 - 2025
Chad 19.29 127 1960 - 2025
Tr.&Tobago 18.99 128 2000 - 2023
Bolivia 18.98 129 1970 - 2024
Belize 18.91 130 1980 - 2024
UK 18.46 131 1970 - 2025
Aruba 18.38 132 1995 - 2024
Gabon 18.08 133 1970 - 2025
Ukraine 18.07 134 1991 - 2025
Kuwait 17.76 135 1965 - 2024
Azerbaijan 17.74 136 1990 - 2025
Poland 17.67 137 1995 - 2025
Uruguay 17.66 138 1960 - 2025
Libya 16.88 139 1990 - 2025
San Marino 16.58 140 2015 - 2023
Kenya 16.57 141 1964 - 2025
Guatemala 16.52 142 1960 - 2025
Egypt 16.49 143 1960 - 2025
Luxembourg 16.43 144 1970 - 2025
Colombia 16.38 145 1960 - 2025
Greece 16.17 146 1960 - 2025
Hong Kong 16.15 147 1960 - 2025
Costa Rica 15.85 148 1960 - 2025
Brazil 15.76 149 1960 - 2025
South Africa 15.39 150 1960 - 2025
Macao 15.3 151 1982 - 2025
Afghanistan 15.29 152 2020 - 2024
Malawi 14.48 153 2017 - 2025
Puerto Rico 14.24 154 1960 - 2025
Pakistan 13.97 155 1960 - 2025
Haiti 13.88 156 1988 - 2025
Comoros 13.29 157 1980 - 2025
Angola 12.44 158 1985 - 2024
Bermuda 11.22 159 2010 - 2024
Ghana 10.12 160 1960 - 2024
Zimbabwe 10.02 161 1960 - 2024
Tunisia 8.21 162 1965 - 2025
S.T.&Principe 6.2 163 2008 - 2025
Venezuela 5.33 164 1960 - 2025
Eq. Guinea 5.29 165 2005 - 2025
Sudan 2.17 166 1960 - 2025
Lebanon 1.9 167 1990 - 2024
Djibouti -3.74 168 2013 - 2025


New - World map: Capital investment, percent of GDP




Definition: Gross capital formation includes acquisitions less disposals of produced assets for purposes of fixed capital formation, inventories or valuables. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
What explains the differences in capital investment across countries

Physical capital investment is typically higher in countries that have relatively low income and good economic growth prospects. The marginal return on investment in these countries is high and savings, both domestic and international, flow to them to take advantage of the high return. Hardly any country has achieved high rates of economic growth without a period of high capital investment as percent of GDP. Over time, investment levels rise, the marginal return declines and the share of capital investment in GDP also declines. It settles at about 15-20 percent of GDP.

Among the countries with high investment to GDP ratios one also finds more authoritarian countries as these governments often like to spend on large investment projects. Those, however, seldom bear much fruit in terms of faster economic growth in the long-run. At the other end are counties with very low capital investment. These are typically countries with domestic violence or other instability where investors do not want to commit funds.


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All articles

1. Bhutan
2. Mauritania
3. Iran
4. Senegal
5. China
6. Tanzania
7. Rwanda
8. Algeria
9. Panama
10. Samoa
11. Palau
12. Turkey
13. Benin
14. India
15. Kyrgyzstan
16. DR Congo
17. Mongolia
18. Cambodia
19. Maldives
20. Uzbekistan
21. South Korea
22. Vietnam
23. Tajikistan
24. Zambia
25. Faroe Isl.
26. Nepal
27. Bangladesh
28. Indonesia
29. Botswana
30. Niger
31. Saudi Arabia
32. Brunei
33. North Macedonia
34. Bahrain
35. Morocco
36. Switzerland
37. Czechia
38. Kazakhstan
39. Namibia
40. Domin. Rep.
41. Japan
42. Gambia
43. Russia
44. Lesotho
45. Bosnia & Herz.
46. Ireland
47. Oman
48. UA Emirates
49. Israel
50. Romania
51. G.-Bissau
52. Hungary
53. Austria
54. Tonga
55. N. Caledonia
56. Montenegro
57. Iceland
58. Belgium
59. Sweden
60. R. of Congo
61. Estonia
62. Palestine
63. Georgia
64. Kiribati
65. Belarus
66. Latvia
67. Serbia
68. Croatia
69. Ivory Coast
70. Seychelles
71. Sri Lanka
72. New Zealand
73. Australia
74. C.A. Republic
75. Canada
76. Denmark
77. Norway
78. Somalia
79. Albania
80. Guinea
81. Philippines
82. Chile
83. Mexico
84. Italy
85. Finland
86. Armenia
87. France
88. Bahamas
89. Uganda
90. Malaysia
91. Lithuania
92. Slovenia
93. Thailand
94. Togo
95. Vanuatu
96. Honduras
97. Ethiopia
98. Nicaragua
99. Germany
100. Cape Verde
101. Mali
102. USA
103. El Salvador
104. Cyprus
105. Madagascar
106. Solomon Isl.
107. Singapore
108. Spain
109. Swaziland
110. Ecuador
111. Portugal
112. Iraq
113. Paraguay
114. Burkina Faso
115. Moldova
116. Netherlands
117. Mauritius
118. Malta
119. Fiji
120. Bulgaria
121. Slovakia
122. Sierra Leone
123. Peru
124. Mozambique
125. Argentina
126. Cameroon
127. Chad
128. Tr.&Tobago
129. Bolivia
130. Belize
131. UK
132. Aruba
133. Gabon
134. Ukraine
135. Kuwait
136. Azerbaijan
137. Poland
138. Uruguay
139. Libya
140. San Marino
141. Kenya
142. Guatemala
143. Egypt
144. Luxembourg
145. Colombia
146. Greece
147. Hong Kong
148. Costa Rica
149. Brazil
150. South Africa
151. Macao
152. Afghanistan
153. Malawi
154. Puerto Rico
155. Pakistan
156. Haiti
157. Comoros
158. Angola
159. Bermuda
160. Ghana
161. Zimbabwe
162. Tunisia
163. S.T.&Principe
164. Venezuela
165. Eq. Guinea
166. Sudan
167. Lebanon
168. Djibouti
45.27
44.54
43.77
42.31
41.13
41.00
38.36
37.62
37.49
36.07
35.70
34.59
34.53
34.50
34.46
34.08
33.90
33.29
33.05
33.03
31.89
31.67
31.65
31.45
31.38
31.15
30.95
30.34
30.14
30.11
29.76
29.63
29.63
29.17
29.00
28.55
28.22
28.16
28.10
27.81
27.78
27.45
27.30
27.07
27.04
26.66
26.66
26.64
26.40
26.21
26.19
26.19
26.00
25.93
25.56
25.45
25.42
25.30
25.26
25.21
25.13
25.08
25.00
24.74
24.71
24.69
24.62
24.56
24.54
24.35
24.27
24.09
23.87
23.75
23.64
23.64
23.61
23.61
23.44
23.43
23.41
23.33
23.31
23.07
23.02
22.94
22.93
22.86
22.82
22.80
22.65
22.51
22.39
22.39
22.27
22.19
22.17
22.15
21.99
21.73
21.67
21.57
21.50
21.47
21.42
21.22
21.13
21.12
20.83
20.73
20.50
20.29
20.27
20.26
20.08
20.08
19.92
19.87
19.80
19.79
19.73
19.71
19.57
19.53
19.38
19.29
19.29
18.99
18.98
18.91
18.46
18.38
18.08
18.07
17.76
17.74
17.67
17.66
16.88
16.58
16.57
16.52
16.49
16.43
16.38
16.17
16.15
15.85
15.76
15.39
15.30
15.29
14.48
14.24
13.97
13.88
13.29
12.44
11.22
10.12
10.02
8.21
6.20
5.33
5.29
2.17
1.90
-3.74
-3.74
8.5
20.8
33
45.27


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