Gross fixed capital formation in Upper middle income
Upper middle income: Gross fixed capital formation was 32.7% in 2024. ▲ Rising
Gross fixed capital formation in Upper middle income, 1960–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
The most recent figure for gross fixed capital formation in Upper middle income is 32.7%, measured in 2024.
That represents a change of down 1.7% on the previous year and down 2.6% over ten years.
Over the whole period, gross fixed capital formation in Upper middle income peaked at 34.5% in 2021 and was at its lowest, 16.4%, in 1962.
Upper middle income ranks 5th of 43 groups on this measure, in the top 10%.
The long-run direction has been consistently rising across the 65 years of available data.
Gross fixed capital formation in Upper middle income, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 25.0% | — |
| 1961 | 18.9% | -24.5% |
| 1962 | 16.4% | -13.1% |
| 1963 | 16.6% | +0.9% |
| 1964 | 18.4% | +10.9% |
| 1965 | 19.3% | +5.3% |
| 1966 | 19.7% | +1.7% |
| 1967 | 18.1% | -8.0% |
| 1968 | 17.5% | -3.2% |
| 1969 | 19.3% | +10.3% |
| 1970 | 21.1% | +9.5% |
| 1971 | 21.4% | +1.3% |
| 1972 | 21.9% | +2.3% |
| 1973 | 21.7% | -0.9% |
| 1974 | 22.0% | +1.4% |
| 1975 | 25.3% | +15.1% |
| 1976 | 25.9% | +2.5% |
| 1977 | 25.6% | -1.4% |
| 1978 | 25.5% | -0.5% |
| 1979 | 23.6% | -7.1% |
| 1980 | 24.1% | +2.1% |
| 1981 | 24.9% | +3.2% |
| 1982 | 24.5% | -1.8% |
| 1983 | 24.5% | +0.4% |
| 1984 | 24.0% | -2.4% |
| 1985 | 23.4% | -2.1% |
| 1986 | 23.7% | +0.9% |
| 1987 | 22.8% | -3.6% |
| 1988 | 23.5% | +3.2% |
| 1989 | 23.8% | +0.9% |
| 1990 | 21.4% | -9.9% |
| 1991 | 22.5% | +5.3% |
| 1992 | 23.5% | +4.3% |
| 1993 | 24.7% | +5.2% |
| 1994 | 25.1% | +1.3% |
| 1995 | 24.2% | -3.4% |
| 1996 | 24.3% | +0.3% |
| 1997 | 24.0% | -1.2% |
| 1998 | 23.7% | -1.2% |
| 1999 | 22.8% | -3.9% |
| 2000 | 23.2% | +2.0% |
| 2001 | 23.6% | +1.6% |
| 2002 | 24.6% | +4.3% |
| 2003 | 25.9% | +5.4% |
| 2004 | 27.1% | +4.4% |
| 2005 | 27.2% | +0.4% |
| 2006 | 27.6% | +1.4% |
| 2007 | 27.9% | +1.3% |
| 2008 | 29.3% | +4.8% |
| 2009 | 31.5% | +7.5% |
| 2010 | 31.5% | +0.1% |
| 2011 | 32.0% | +1.7% |
| 2012 | 32.9% | +2.6% |
| 2013 | 33.4% | +1.6% |
| 2014 | 33.5% | +0.4% |
| 2015 | 33.5% | -0.1% |
| 2016 | 32.9% | -1.6% |
| 2017 | 32.9% | -0.2% |
| 2018 | 34.1% | +3.7% |
| 2019 | 34.1% | -0.1% |
| 2020 | 34.4% | +1.0% |
| 2021 | 34.5% | +0.3% |
| 2022 | 33.9% | -1.7% |
| 2023 | 33.2% | -2.0% |
| 2024 | 32.7% | -1.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 18.9% | 16.4% | 25.0% | 10 |
| 1970s | 23.4% | 21.1% | 25.9% | 10 |
| 1980s | 23.9% | 22.8% | 24.9% | 10 |
| 1990s | 23.6% | 21.4% | 25.1% | 10 |
| 2000s | 26.8% | 23.2% | 31.5% | 10 |
| 2010s | 33.1% | 31.5% | 34.1% | 10 |
| 2020s | 33.7% | 32.7% | 34.5% | 5 |
Countries ranked near Upper middle income
More economy & growth data for Upper middle income
- Gross national expenditure 31.54 trillion current US$ (2024)
- GDP growth 4.2% (2025)
- Households and NPISHs final consumption expenditure 48.8% (2024)
- Final consumption expenditure 20.74 trillion current US$ (2024)
- Final consumption expenditure 20.18 trillion constant 2015 US$ (2025)
- Final consumption expenditure 3.9% (2025)
- Exports of goods and services 8.68 trillion current US$ (2025)
- GDP 31.38 trillion constant 2015 US$ (2025)
- Exports of goods and services 25.9% (2025)
- GDP per capita 10,890 current US$ (2025)
Frequently asked questions
- What is gross fixed capital formation in Upper middle income?
- Gross fixed capital formation in Upper middle income was 32.7% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gross fixed capital formation recorded in Upper middle income?
- The highest recorded value was 34.5% in 2021.
- What is the lowest gross fixed capital formation recorded in Upper middle income?
- The lowest recorded value was 16.4% in 1962.
- How does Upper middle income rank for gross fixed capital formation?
- Upper middle income ranks 5th 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 down 2.6%. The long-run trend across the full record is rising.
- Where does this Upper middle income data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Gross fixed capital formation (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 65 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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 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.