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3. Gross fixed capital formation at current prices

Gross fixed capital formation at current prices

Gross fixed capital formation (GFCF) consists of resident producers' acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer or institutional units. GFCF includes acquisition less disposals of, e.g. buildings, structures, machinery and equipment, mineral exploration, computer software, literary or artistic originals and major improvements to land such as the clearance of forests. The MIP auxiliary indicator is expressed as a percentage of GDP. In the table, values are also presented in current prices, in million euros, and in current prices, in millions of national currency units. Input data are obtained from official national accounts country data, transmitted through the ESA 2010 transmission programme.