Capital investment, percent of GDP - Country rankings

* indicates monthly or quarterly data series

Capital investment as percent of GDP, 2022:

The average for 2022 based on 142 countries was 24.55 percent. The highest value was in Vanuatu: 54.28 percent and the lowest value was in Sudan: 2.18 percent. The indicator is available from 1960 to 2022. 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, 2022 Global rank Available data
Vanuatu 54.28 1 1983 - 2022
Seychelles 46.64 2 1976 - 2022
Senegal 43.41 3 1965 - 2022
China 43.29 4 1960 - 2022
Mongolia 42.33 5 1981 - 2022
Tanzania 40.93 6 1990 - 2022
Uzbekistan 38.3 7 1992 - 2022
Iran 38 8 1960 - 2022
Nepal 37.42 9 1965 - 2022
Benin 36.53 10 1960 - 2022
North Macedonia 35.04 11 1990 - 2022
Turkey 35.04 12 1960 - 2022
Samoa 34.81 13 2010 - 2022
Mauritania 34.52 14 1961 - 2022
Sri Lanka 34.39 15 1960 - 2022
Hungary 33.77 16 1991 - 2022
Gambia 33.66 17 1966 - 2022
Vietnam 33.41 18 1995 - 2022
Algeria 33.32 19 1960 - 2022
Domin. Rep. 33.28 20 1960 - 2022
South Korea 33.18 21 1960 - 2022
Czechia 32.16 22 1990 - 2022
Bangladesh 32.05 23 1960 - 2022
Faroe Isl. 31.39 24 1998 - 2022
India 31.04 25 1960 - 2022
Qatar 30.8 26 1994 - 2022
Montenegro 30.31 27 2000 - 2022
Morocco 30.3 28 1960 - 2022
Estonia 30.25 29 1995 - 2022
Guinea 29.81 30 1986 - 2022
Indonesia 29.75 31 1960 - 2022
Lesotho 29.03 32 1960 - 2022
Niger 28.38 33 1960 - 2022
Sweden 28.33 34 1960 - 2022
Thailand 27.81 35 1960 - 2022
Austria 27.55 36 1970 - 2022
Bosnia & Herz. 27.49 37 1995 - 2022
Belgium 27.14 38 1970 - 2022
Zambia 26.98 39 2010 - 2022
Israel 26.95 40 1995 - 2022
Paraguay 26.9 41 1962 - 2022
Lithuania 26.87 42 1995 - 2022
Romania 26.75 43 1990 - 2022
Japan 26.59 44 1970 - 2022
Palestine 26.51 45 1994 - 2022
Serbia 26.51 46 1995 - 2022
France 26.48 47 1960 - 2022
Saudi Arabia 26.43 48 1968 - 2022
Croatia 26.32 49 1995 - 2022
Finland 26.3 50 1970 - 2022
Malta 26.25 51 1970 - 2022
New Zealand 26.08 52 1971 - 2022
Honduras 25.87 53 1960 - 2022
Moldova 25.86 54 1995 - 2022
Brunei 25.85 55 1989 - 2022
Latvia 25.82 56 1995 - 2022
Angola 25.67 57 1985 - 2022
Chile 25.42 58 1960 - 2022
Canada 25.36 59 1961 - 2022
Ethiopia 25.34 60 1981 - 2022
Ivory Coast 25.27 61 1960 - 2022
Rwanda 25.1 62 1960 - 2022
Germany 25.03 63 1970 - 2022
Botswana 24.95 64 1960 - 2022
Philippines 24.7 65 1981 - 2022
Switzerland 24.54 66 1980 - 2022
C.A. Republic 24.33 67 1960 - 2022
Georgia 24.32 68 1980 - 2022
Slovenia 24.28 69 1995 - 2022
Uganda 24.2 70 1960 - 2022
Macao 24.19 71 1982 - 2022
Kazakhstan 24.12 72 1992 - 2022
Denmark 23.88 73 1966 - 2022
Ireland 23.72 74 1970 - 2022
Australia 23.57 75 1960 - 2022
Malaysia 23.51 76 1960 - 2022
Bulgaria 23.38 77 1980 - 2022
Slovakia 23.27 78 1990 - 2022
Cambodia 22.75 79 1960 - 2022
Mexico 22.74 80 1960 - 2022
Italy 22.67 81 1970 - 2022
Iceland 22.54 82 1970 - 2022
Poland 22.41 83 1995 - 2022
Russia 22.29 84 1988 - 2022
Ecuador 22.24 85 1960 - 2022
Peru 22.15 86 1960 - 2022
USA 22.14 87 1970 - 2022
Belarus 21.98 88 1990 - 2022
Nicaragua 21.93 89 1960 - 2022
Singapore 21.92 90 1960 - 2022
Bahamas 21.69 91 1977 - 2022
Armenia 21.63 92 1990 - 2022
Norway 21.6 93 1970 - 2022
Belize 21.59 94 1980 - 2022
Spain 21.48 95 1970 - 2022
Cyprus 21.43 96 1975 - 2022
Togo 21.42 97 1960 - 2022
Colombia 21.39 98 1960 - 2022
Netherlands 21.23 99 1969 - 2022
Greece 21.15 100 1960 - 2022
R. of Congo 20.98 101 1960 - 2022
Madagascar 20.67 102 1960 - 2022
Portugal 20.65 103 1970 - 2022
Fiji 20.61 104 1980 - 2022
Aruba 20.55 105 1995 - 2022
Mali 20.29 106 1967 - 2022
El Salvador 19.97 107 1965 - 2022
Mauritius 19.93 108 1976 - 2022
Namibia 19.36 109 1980 - 2022
Kenya 19.16 110 1964 - 2022
Uruguay 18.8 111 1960 - 2022
UK 18.6 112 1970 - 2022
Costa Rica 18.27 113 1960 - 2022
Brazil 18.14 114 1960 - 2022
Tunisia 17.92 115 1965 - 2022
Cameroon 17.76 116 1965 - 2022
Luxembourg 17.75 117 1970 - 2022
Argentina 17.63 118 1960 - 2022
Burkina Faso 17.5 119 1960 - 2022
Cape Verde 17.43 120 2007 - 2022
Barbados 17.07 121 1975 - 2022
Egypt 17.02 122 1960 - 2022
Guatemala 16.66 123 1960 - 2022
Bolivia 16.62 124 1970 - 2022
Ghana 16.24 125 1960 - 2022
Haiti 15.86 126 1988 - 2022
DR Congo 15.73 127 1991 - 2022
Pakistan 15.72 128 1960 - 2022
Gabon 15.57 129 1970 - 2022
South Africa 15.38 130 1960 - 2022
Hong Kong 14.96 131 1960 - 2022
Zimbabwe 14.65 132 1960 - 2022
Chad 14.53 133 1960 - 2022
Burundi 13.39 134 1960 - 2022
Puerto Rico 13.35 135 1960 - 2022
Comoros 12.96 136 1980 - 2022
Azerbaijan 12.65 137 1990 - 2022
Ukraine 12.61 138 1991 - 2022
Bermuda 12.53 139 2010 - 2022
Swaziland 11.79 140 1960 - 2022
Sierra Leone 11.74 141 1980 - 2022
Sudan 2.18 142 1960 - 2022



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.
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. Vanuatu
2. Seychelles
3. Senegal
4. China
5. Mongolia
6. Tanzania
7. Uzbekistan
8. Iran
9. Nepal
10. Benin
11. North Macedonia
12. Turkey
13. Samoa
14. Mauritania
15. Sri Lanka
16. Hungary
17. Gambia
18. Vietnam
19. Algeria
20. Domin. Rep.
21. South Korea
22. Czechia
23. Bangladesh
24. Faroe Isl.
25. India
26. Qatar
27. Montenegro
28. Morocco
29. Estonia
30. Guinea
31. Indonesia
32. Lesotho
33. Niger
34. Sweden
35. Thailand
36. Austria
37. Bosnia & Herz.
38. Belgium
39. Zambia
40. Israel
41. Paraguay
42. Lithuania
43. Romania
44. Japan
45. Palestine
46. Serbia
47. France
48. Saudi Arabia
49. Croatia
50. Finland
51. Malta
52. New Zealand
53. Honduras
54. Moldova
55. Brunei
56. Latvia
57. Angola
58. Chile
59. Canada
60. Ethiopia
61. Ivory Coast
62. Rwanda
63. Germany
64. Botswana
65. Philippines
66. Switzerland
67. C.A. Republic
68. Georgia
69. Slovenia
70. Uganda
71. Macao
72. Kazakhstan
73. Denmark
74. Ireland
75. Australia
76. Malaysia
77. Bulgaria
78. Slovakia
79. Cambodia
80. Mexico
81. Italy
82. Iceland
83. Poland
84. Russia
85. Ecuador
86. Peru
87. USA
88. Belarus
89. Nicaragua
90. Singapore
91. Bahamas
92. Armenia
93. Norway
94. Belize
95. Spain
96. Cyprus
97. Togo
98. Colombia
99. Netherlands
100. Greece
101. R. of Congo
102. Madagascar
103. Portugal
104. Fiji
105. Aruba
106. Mali
107. El Salvador
108. Mauritius
109. Namibia
110. Kenya
111. Uruguay
112. UK
113. Costa Rica
114. Brazil
115. Tunisia
116. Cameroon
117. Luxembourg
118. Argentina
119. Burkina Faso
120. Cape Verde
121. Barbados
122. Egypt
123. Guatemala
124. Bolivia
125. Ghana
126. Haiti
127. DR Congo
128. Pakistan
129. Gabon
130. South Africa
131. Hong Kong
132. Zimbabwe
133. Chad
134. Burundi
135. Puerto Rico
136. Comoros
137. Azerbaijan
138. Ukraine
139. Bermuda
140. Swaziland
141. Sierra Leone
142. Sudan
54.28
46.64
43.41
43.29
42.33
40.93
38.30
38.00
37.42
36.53
35.04
35.04
34.81
34.52
34.39
33.77
33.66
33.41
33.32
33.28
33.18
32.16
32.05
31.39
31.04
30.80
30.31
30.30
30.25
29.81
29.75
29.03
28.38
28.33
27.81
27.55
27.49
27.14
26.98
26.95
26.90
26.87
26.75
26.59
26.51
26.51
26.48
26.43
26.32
26.30
26.25
26.08
25.87
25.86
25.85
25.82
25.67
25.42
25.36
25.34
25.27
25.10
25.03
24.95
24.70
24.54
24.33
24.32
24.28
24.20
24.19
24.12
23.88
23.72
23.57
23.51
23.38
23.27
22.75
22.74
22.67
22.54
22.41
22.29
22.24
22.15
22.14
21.98
21.93
21.92
21.69
21.63
21.60
21.59
21.48
21.43
21.42
21.39
21.23
21.15
20.98
20.67
20.65
20.61
20.55
20.29
19.97
19.93
19.36
19.16
18.80
18.60
18.27
18.14
17.92
17.76
17.75
17.63
17.50
17.43
17.07
17.02
16.66
16.62
16.24
15.86
15.73
15.72
15.57
15.38
14.96
14.65
14.53
13.39
13.35
12.96
12.65
12.61
12.53
11.79
11.74
2.18
0
13.6
27.1
40.7
54.28


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