Gross fixed capital formation (GFCF) refers to the acquisition of produced assets, including purchases of second-hand assets and the production of such assets for own use, minus disposals.
It covers fixed assets intended for use in the production of goods and services for more than one year. Only assets resulting from a production process are included; this excludes non-produced assets such as land and natural resources. All OECD countries compile their data according to the 2008 System of National Accounts (SNA).
The indicator is measured as the percentage change from the previous period.
