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In 2017, real gross capital formation for Singapore was 49,122 million LCU. Between 1998 and 2017, real gross capital formation of Singapore grew substantially from 13,772 million to 49,122 million LCU rising at an increasing annual rate that reached a maximum of 27.53 % in 2000 and then decreased to 6.15 % in 2017.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.