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In 2017, real gross capital formation for Ethiopia was 704,596 million US dollars. Real gross capital formation of Ethiopia increased from 12,730 million US dollars in 1998 to 704,596 million US dollars in 2017 growing at an average annual rate of 24.84 %.The description is composed by our digital data assistant.
Gross capital formation (also known as 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.