Gross fixed capital formation in Upper middle income
Upper middle income: Gross fixed capital formation was 10.46 trillion current US$ in 2024. ◆ Volatile
Latest (2024)
10.46 trillion current US$
Change on year
up 1.8%
Rank
10th
of 43 groups
All-time high
10.46 trillion current US$
in 2024
All-time low
28.84 billion current US$
in 1962
Years of data
65
1960–2024
Gross fixed capital formation in Upper middle income, 1960–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current US$.
Analysis
In 2024, gross fixed capital formation in Upper middle income stood at 10.46 trillion current US$. That is the highest value across all 65 years on record.
Compared with earlier readings it is up 1.8% on the previous year and up 46.0% over ten years.
Over the whole period, gross fixed capital formation in Upper middle income peaked at 10.46 trillion current US$ in 2024 and was at its lowest, 28.84 billion current US$, in 1962.
That places Upper middle income 10th out of 43 groups with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross fixed capital formation in Upper middle income, year by year
| Year | current US$ | Change |
|---|---|---|
| 1960 | 44.89 billion current US$ | — |
| 1961 | 33.60 billion current US$ | -25.2% |
| 1962 | 28.84 billion current US$ | -14.2% |
| 1963 | 31.94 billion current US$ | +10.8% |
| 1964 | 40.50 billion current US$ | +26.8% |
| 1965 | 47.74 billion current US$ | +17.9% |
| 1966 | 53.53 billion current US$ | +12.1% |
| 1967 | 49.94 billion current US$ | -6.7% |
| 1968 | 51.21 billion current US$ | +2.5% |
| 1969 | 63.38 billion current US$ | +23.8% |
| 1970 | 75.54 billion current US$ | +19.2% |
| 1971 | 83.31 billion current US$ | +10.3% |
| 1972 | 97.65 billion current US$ | +17.2% |
| 1973 | 127.28 billion current US$ | +30.3% |
| 1974 | 166.24 billion current US$ | +30.6% |
| 1975 | 211.53 billion current US$ | +27.2% |
| 1976 | 235.01 billion current US$ | +11.1% |
| 1977 | 260.05 billion current US$ | +10.7% |
| 1978 | 284.97 billion current US$ | +9.6% |
| 1979 | 308.53 billion current US$ | +8.3% |
| 1980 | 368.96 billion current US$ | +19.6% |
| 1981 | 411.88 billion current US$ | +11.6% |
| 1982 | 398.11 billion current US$ | -3.3% |
| 1983 | 390.07 billion current US$ | -2.0% |
| 1984 | 401.41 billion current US$ | +2.9% |
| 1985 | 404.74 billion current US$ | +0.8% |
| 1986 | 422.37 billion current US$ | +4.4% |
| 1987 | 414.38 billion current US$ | -1.9% |
| 1988 | 458.99 billion current US$ | +10.8% |
| 1989 | 506.68 billion current US$ | +10.4% |
| 1990 | 529.35 billion current US$ | +4.5% |
| 1991 | 543.36 billion current US$ | +2.6% |
| 1992 | 607.11 billion current US$ | +11.7% |
| 1993 | 703.18 billion current US$ | +15.8% |
| 1994 | 803.65 billion current US$ | +14.3% |
| 1995 | 899.05 billion current US$ | +11.9% |
| 1996 | 997.69 billion current US$ | +11.0% |
| 1997 | 1.05 trillion current US$ | +5.1% |
| 1998 | 1.00 trillion current US$ | -4.5% |
| 1999 | 940.25 billion current US$ | -6.1% |
| 2000 | 1.05 trillion current US$ | +11.3% |
| 2001 | 1.06 trillion current US$ | +1.7% |
| 2002 | 1.12 trillion current US$ | +5.3% |
| 2003 | 1.31 trillion current US$ | +17.4% |
| 2004 | 1.62 trillion current US$ | +23.0% |
| 2005 | 1.93 trillion current US$ | +19.4% |
| 2006 | 2.31 trillion current US$ | +19.6% |
| 2007 | 2.87 trillion current US$ | +24.5% |
| 2008 | 3.65 trillion current US$ | +26.9% |
| 2009 | 3.89 trillion current US$ | +6.8% |
| 2010 | 4.77 trillion current US$ | +22.4% |
| 2011 | 5.79 trillion current US$ | +21.5% |
| 2012 | 6.35 trillion current US$ | +9.7% |
| 2013 | 6.87 trillion current US$ | +8.2% |
| 2014 | 7.17 trillion current US$ | +4.3% |
| 2015 | 6.92 trillion current US$ | -3.5% |
| 2016 | 6.85 trillion current US$ | -0.9% |
| 2017 | 7.48 trillion current US$ | +9.3% |
| 2018 | 8.31 trillion current US$ | +11.0% |
| 2019 | 8.45 trillion current US$ | +1.7% |
| 2020 | 8.28 trillion current US$ | -2.1% |
| 2021 | 9.87 trillion current US$ | +19.2% |
| 2022 | 10.13 trillion current US$ | +2.7% |
| 2023 | 10.28 trillion current US$ | +1.5% |
| 2024 | 10.46 trillion current US$ | +1.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 44.56 billion current US$ | 28.84 billion current US$ | 63.38 billion current US$ | 10 |
| 1970s | 185.01 billion current US$ | 75.54 billion current US$ | 308.53 billion current US$ | 10 |
| 1980s | 417.76 billion current US$ | 368.96 billion current US$ | 506.68 billion current US$ | 10 |
| 1990s | 807.30 billion current US$ | 529.35 billion current US$ | 1.05 trillion current US$ | 10 |
| 2000s | 2.08 trillion current US$ | 1.05 trillion current US$ | 3.89 trillion current US$ | 10 |
| 2010s | 6.90 trillion current US$ | 4.77 trillion current US$ | 8.45 trillion current US$ | 10 |
| 2020s | 9.80 trillion current US$ | 8.28 trillion current US$ | 10.46 trillion current US$ | 5 |
Countries ranked near Upper middle income
- 7 France 741.24 billion current US$ compare
- 8 Russia 591.40 billion current US$ compare
- 9 Italy 557.13 billion current US$ compare
- 10 Canada 531.31 billion current US$ compare
- 11 South Korea 530.44 billion current US$ compare
- 12 Turkey 488.63 billion current US$ compare
- 13 Australia 437.56 billion current US$ compare
More economy & growth data for Upper middle income
- Foreign direct investment, net outflows (BoP, current US$), gaps 228.01 billion BoP, current US$ (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 0.0644 constant 2015 US$ per US$ of GDP (2025)
- Gross capital formation (current US$), per capita 3,522 current US$ per person (2024)
- Gross capital formation (constant 2015 US$), annual growth rate 2.14 % change on previous year (2025)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.3068 constant 2015 US$ per US$ of GDP (2025)
- Gross capital formation (constant 2015 US$), per capita 3,341 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), annual growth rate 4.7 % change on previous year (2025)
- Imports of goods and services (current US$), per unit of GDP 0.2376 current US$ per US$ of GDP (2025)
- Imports of goods and services (current US$), per capita 2,587 current US$ per person (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 3.62 % change on previous year (2025)
Frequently asked questions
- What is gross fixed capital formation in Upper middle income?
- Gross fixed capital formation in Upper middle income was 10.46 trillion current US$ in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross fixed capital formation recorded in Upper middle income?
- The highest recorded value was 10.46 trillion current US$ in 2024.
- What is the lowest gross fixed capital formation recorded in Upper middle income?
- The lowest recorded value was 28.84 billion current US$ in 1962.
- How does Upper middle income rank for gross fixed capital formation?
- Upper middle income ranks 10th out of 43 groups with data for 2024.
- Is gross fixed capital formation rising or falling in Upper middle income?
- Over the last ten years it is up 46.0%. The long-run trend across the full record is volatile.
- Where does this Upper middle income data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross fixed capital formation (current US$). Statizoid updates them automatically from the source API.
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About this data
Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.