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Annual National Accounts 2022

Investment

Value of Investment was €120.1 billion in 2022

Online ISSN: 2811-5724

CSO statistical publication, 14 July 2023, 11am

The following tables show a further breakdown of Gross Domestic Fixed Capital Formation from Expenditure. Tables 11.1 and 11.3 are broken down by type of asset.

Tables 11.2 and 11.4 are broken down by sector of use. The two largest industries are Manufacturing (C), and Information & Communication (J), which are dominated by assets related to Research & Development. Professional, Scientific & Technical Activities (M) are also dominated by these Research & Development related assets. Similarly, Administrative & Support Service Activities (N) are dominated by Aircraft related to Leasing.

	Dwellings	Roads	Other Building & Construction	Transfer Costs	Transport Equipment	Agricultural Machinery	Other Machinery & Equipment	Cultivated Biological Resources	Software	Exploration	Artistic Originals	Research & Development
2022	11.1828322967502	1.68463781695	15.0617685497395	1.8758702104726	16.9641274124676	0.576558976	11.1329199372365	-0.0336488945	3.9309379559399	0.0572664645	0.2197843352109	46.8719853993426

Get the data: PxStat NA02

Figure 11.1 above shows the contribution by asset type to gross fixed capital formation. In 2022 the largest contributor was research & development accounting for 44% of the total.

Table 11.1 Gross Domestic Physical Capital Formation at Current Market Prices

Table 11.2 Gross Domestic Fixed Capital Formation by Sector of Use at Current Market Prices

Table 11.3 Gross Domestic Physical Capital Formation at Constant Market Prices (chain linked annually and referenced to year 2021)

Table 11.4 Gross Domestic Fixed Capital Formation by Sector of Use at Constant Market Prices (chain linked annually and referenced to year 2021)

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Table 11.1 Gross Domestic Physical Capital Formation at Current Market Prices						€ million
Description	2017	2018	2019	2020	2021	2022 ¹
Fixed capital
Dwellings	5,588	7,093	7,127	7,097	7,752	11,183
Roads	953	1,086	1,232	1,419	1,645	1,685
Other building and construction (including land rehabilitation etc.)	11,787	13,399	15,540	14,022	14,450	15,062
Costs associated with transfer of land and buildings	1,105	1,387	1,504	1,162	1,471	1,876
Transport equipment	17,218	19,847	19,925	12,428	13,880	16,964
Agricultural machinery	374	470	569	486	539	577
Other machinery and equipment	4,597	6,193	5,412	4,859	6,063	11,133
Cultivated biological resources	30	-18	28	9	28	-34
Software	2,229	2,526	2,760	3,292	3,408	3,931
Exploration	162	54	111	58	71	57
Artistic originals	182	193	191	173	164	220
Research and development	54,420	40,747	139,012	112,889	47,471	46,872
Gross domestic fixed capital formation	98,644	92,977	193,410	157,894	96,941	109,525
Changes in stocks
Value of physical changes in stocks on farms	49	-36	-40	-59	116	2
Value of physical changes in EU intervention stocks	-0	-9	-54	0	0	0
Value of physical changes in other stocks	4,756	965	1,878	3,746	5,429	10,541
Total value of physical changes in stocks	4,805	919	1,784	3,687	5,545	10,543
162. Gross domestic physical capital formation at current market prices	103,449	93,896	195,194	161,581	102,487	120,068
¹Preliminary

Table 11.2 Gross Domestic Fixed Capital Formation by Sector of Use at Current Market Prices							€ million
NACE REV. 2 section	Description	2017	2018	2019	2020	2021	2022 ¹
A	Agriculture, Forestry and Fishing	986	1,124	1,312	1,198	1,303	1,304
B	Mining and Quarrying	243	141	203	146	144	82
C	Manufacturing	17,708	30,014	89,094	65,140	38,647	37,088
D	Electricity, Gas, Steam and Air Conditioning Supply	1,258	1,517	1,365	1,359	1,462	1,559
E	Water supply; sewerage, waste management and remediation activities	515	540	544	545	550	551
F	Construction	541	474	633	529	587	623
G	Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles	2,590	2,538	2,182	2,300	1,830	2,171
H	Transportation and Storage	3,545	2,425	2,197	768	1,926	3,196
I	Accommodation and Food Service Activities	599	1,687	433	327	327	403
J	Information and Communication	37,295	14,257	48,033	55,443	15,085	19,836
K	Financial and Insurance Activities	2,973	2,705	3,286	2,892	2,826	3,286
L	Real Estate Activities	9,619	10,547	12,063	10,367	10,756	14,518
	of which:
	Dwellings (incl. transfer costs)	6,170	7,815	7,910	7,701	8,518	12,158
M	Professional, Scientific and Technical Activities	3,535	2,925	9,273	575	4,670	5,498
N	Administrative and Support Service Activities	12,449	16,773	17,294	10,668	10,713	12,947
O	Public Administration and Defence; Compulsory Social Security	2,144	2,335	2,847	2,865	3,134	3,342
	of which:
	Roads	953	1,086	1,232	1,419	1,645	1,685
P	Education	1,154	1,180	1,193	1,248	1,286	1,224
Q	Human Health and Social Work Activities	1,184	1,415	1,053	1,234	1,323	1,450
R	Arts, Entertainment and Recreation	246	295	310	220	298	351
S	Other Service Activities	62	85	97	68	74	96
	163. Gross domestic fixed capital formation at current market prices	98,644	92,977	193,410	157,894	96,941	109,525
¹Preliminary

Table 11.3 Gross Domestic Physical Capital Formation at Constant Market Prices (chain linked annually and referenced to year 2021)²						€ million
Description	2017	2018	2019	2020	2021	2022 ¹
Fixed capital
Dwellings	6,600	7,966	7,958	7,494	7,752	9,503
Roads	1,248	1,324	1,407	1,574	1,645	1,495
Other building and construction (including land rehabilitation etc.)	15,441	16,325	17,747	15,552	14,450	13,365
Costs associated with transfer of land and buildings	1,373	1,585	1,656	1,265	1,471	1,670
Transport equipment	18,185	20,763	20,611	12,717	13,880	16,176
Agricultural machinery	372	452	558	504	539	489
Other machinery and equipment	4,055	5,560	5,045	4,743	6,063	10,468
Cultivated biological resources	38	-23	37	10	28	-31
Software	2,742	2,927	3,014	3,479	3,408	3,566
Exploration	213	66	126	64	71	51
Artistic originals	195	204	203	179	164	219
Research and development	55,838	41,114	134,719	113,692	47,471	44,896
Gross domestic fixed capital formation	105,710	97,068	194,807	162,652	96,941	101,867
Changes in stocks
Value of physical changes in stocks on farms	51	-40	-45	-64	116	-2
Value of physical changes in EU intervention stocks	-0	-9	-54	0	0	0
Value of physical changes in other stocks	4,053	855	1,724	3,696	5,429	10,043
Total value of physical changes in stocks	4,090	814	1,638	3,645	5,545	10,042
164. Gross domestic physical capital formation at constant market prices	110,325	97,620	195,920	166,071	102,487	111,909
¹Preliminary
²Chain linked series not additive except for 2021 and 2022

Table 11.4 Gross Domestic Fixed Capital Formation by Sector of Use at Constant Market Prices (chain linked annually and referenced to year 2021)²							€ million
NACE REV. 2 section	Description	2017	2018	2019	2020	2021	2022 ¹
A	Agriculture, Forestry and Fishing	1,102	1,196	1,376	1,274	1,303	1,139
B	Mining and Quarrying	284	157	218	158	144	75
C	Manufacturing	17,007	28,452	81,216	64,332	38,647	34,714
D	Electricity, Gas, Steam and Air Conditioning Supply	1,541	1,747	1,499	1,469	1,462	1,407
E	Water supply; sewerage, waste management and remediation activities	669	653	617	602	550	490
F	Construction	640	531	676	562	587	551
G	Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles	2,837	2,688	2,231	2,395	1,830	2,072
H	Transportation and Storage	3,935	2,635	2,333	801	1,926	3,015
I	Accommodation and Food Service Activities	669	1,794	445	340	327	376
J	Information and Communication	43,108	16,128	52,464	59,045	15,085	19,186
K	Financial and Insurance Activities	3,741	3,207	3,665	3,139	2,826	2,958
L	Real Estate Activities	11,716	12,125	13,496	11,077	10,756	12,468
	of which:
	Dwellings (incl. transfer costs)	7,325	8,795	8,824	8,153	8,518	10,371
M	Professional, Scientific and Technical Activities	2,576	2,076	6,258	611	4,670	5,273
N	Administrative and Support Service Activities	13,198	17,585	17,932	10,936	10,713	12,316
O	Public Administration and Defence; Compulsory Social Security	2,759	2,808	3,219	3,152	3,134	2,980
	of which:
	Roads	1,248	1,324	1,407	1,574	1,645	1,495
P	Education	1,410	1,375	1,327	1,361	1,286	1,125
Q	Human Health and Social Work Activities	1,418	1,640	1,165	1,333	1,323	1,308
R	Arts, Entertainment and Recreation	278	323	327	232	298	323
S	Other Service Activities	63	85	96	69	74	89
	165. Gross domestic fixed capital formation at constant market prices	105,710	97,068	194,807	162,652	96,941	101,867
¹Preliminary
²Chain linked series not additive except for 2021 and 2022

Annual National Accounts 2022

Investment

Investment

Value of Investment was €120.1 billion in 2022

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