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| CON114B - Cross classification of gross fixed capital formation by industry and by fixed asset, in previous year prices |
| Definition |
Gross fixed capital formation consists of resident producers' acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer or institutional units. Fixed assets are produced assets used in production for more than one year, consisting of: dwellings, other buildings and structures, machinery and equipment, weapons systems, cultivated biological resources, and intellectual property products.
More definitions and explanations could be found in Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union ESA 2010, Chapter 7 ''BALANCE SHEETS'' https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32013R0549&from=en |
| Periodicity |
Annual |
| Data sources |
National accounts - final version ESA 2010 details |
| Methodology |
Gross fixed capital formation is initially estimated by products/groups of products, included in the resources-uses/input-output tables.
These data are further processed in order to obtain gross fixed capital formation (GFCF) by industry NACE Rev.2.
GFCF can have:
(a) positive values: 1. new or existing fixed assets purchased or produced and retained for producers' own use (including own account production of fixed assets not yet completed or fully mature) or acquired through barter or received as capital transfers in kind or acquired by the user under a financial lease; 2. major improvements to fixed assets and existing historic monuments; 3. natural growth of those natural assets that yield repeat products;
(b) negative values, i.e. disposals of fixed assets recorded as negative acquisitions: existing fixed assets sold; existing fixed assets surrendered in barter; existing fixed assets surrendered as capital transfers in kind.
GFCF in the form of improvements to existing fixed assets is recorded as acquisitions of new fixed assets of the same kind.
Metadata and quality report
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| Last update |
JAN 22, 2024 |
| Observations |
Data series compiled according to ESA 2010 and NACE Rev.2 are available starting year 2001.
The small differences between totals and sum of components are due to rounding.
Data for years 2001-2019 were revised due to implementation of the GNI reservations and Eurostat recommendations in national accounts series. |
| Responsible person |
Livia Marineta Dragusin, interior: 2288. e-mail: livia.dragusin@insse.ro |
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