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Annual National Accounts 2023

Investment

Value of Investment was €134.3 billion in 2023

Online ISSN: 2811-5724

CSO statistical publication, 12 July 2024, 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
2023	15.9186415683476	1.800862930825	13.190387215175	1.5406708064302	18.4588377843162	0.476400289	9.2146055603784	-0.0486338394513	5.3470177095946	0.0399014805	0.18925981051	52.1031725145155

Get the data: PxStat NA02

Figure 11.1 above shows the contribution by asset type to gross fixed capital formation. In 2023 the largest contributor was research & development, accounting for 45% 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 2022)

Table 11.4 Gross Domestic Fixed Capital Formation by Sector of Use at Constant Market Prices (chain linked annually and referenced to year 2022)

Table 11.4 Gross Domestic Fixed Capital Formation by Sector of Use at Constant Market Prices (chain linked annually and referenced to year 2022)²							€ million
NACE REV. 2 section	Description	2018	2019	2020	2021	2022	2023 ¹
A	Agriculture, Forestry and Fishing	1,308	1,505	1,393	1,425	1,233	1,160
B	Mining and Quarrying	178	247	180	164	78	116
C	Manufacturing	32,580	87,478	68,873	41,697	36,974	38,161
D	Electricity, Gas, Steam and Air Conditioning Supply	1,927	1,654	1,622	1,615	1,561	1,666
E	Water supply; sewerage, waste management and remediation activities	736	849	869	795	1,083	1,168
F	Construction	540	688	558	630	429	511
G	Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles	2,223	1,735	2,570	1,838	2,199	2,173
H	Transportation and Storage	2,917	2,478	878	1,609	2,688	1,464
I	Accommodation and Food Service Activities	1,877	466	355	288	466	483
J	Information and Communication	16,837	54,641	61,643	15,297	20,552	18,553
K	Financial and Insurance Activities	3,377	3,843	3,240	2,952	2,646	2,404
L	Real Estate Activities	14,214	15,770	12,806	14,664	15,430	16,781
	of which:
	Dwellings (incl. transfer costs)	10,716	10,760	9,947	12,168	14,427	16,035
M	Professional, Scientific and Technical Activities	2,169	6,537	639	4,822	4,874	8,157
N	Administrative and Support Service Activities	17,434	18,655	11,395	11,968	13,720	14,349
O	Public Administration and Defence; Compulsory Social Security	3,078	3,522	3,435	3,407	3,088	3,071
	of which:
	Roads	1,492	1,585	1,774	1,854	1,709	1,714
P	Education	1,500	1,448	1,483	1,415	1,345	1,160
Q	Human Health and Social Work Activities	1,799	1,278	1,462	1,450	1,452	1,518
R	Arts, Entertainment and Recreation	351	356	253	335	356	369
S	Other Service Activities	93	105	75	118	131	131
	165. Gross domestic fixed capital formation at constant market prices	105,233	210,129	175,522	106,416	110,306	113,393
¹Preliminary
²Chain linked series not additive except for 2022 and 2023

Open in Excel: Annual National Accounts 2023 Table 11.4 (XLS 25KB)

Visit Table NA027 on PxStat

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Table 11.1 Gross Domestic Physical Capital Formation at Current Market Prices						€ million
Description	2018	2019	2020	2021	2022	2023 ¹
Fixed capital
Dwellings	7,124	7,224	7,119	9,527	13,443	15,919
Roads	1,086	1,232	1,419	1,645	1,709	1,801
Other building and construction (including land rehabilitation etc.)	12,998	14,997	13,451	13,780	14,264	13,190
Costs associated with transfer of land and buildings	1,388	1,505	1,162	1,472	1,891	1,541
Transport equipment	19,847	19,925	12,428	13,901	17,036	18,459
Agricultural machinery	470	569	486	539	500	476
Other machinery and equipment	6,193	5,412	4,859	6,123	9,117	9,215
Cultivated biological resources	-18	28	9	28	-32	-49
Software	2,535	2,776	3,309	3,428	5,975	5,347
Exploration	54	111	58	71	61	40
Artistic originals	193	191	173	164	220	189
Research and development	41,630	139,585	113,514	48,328	46,123	52,103
Gross domestic fixed capital formation	93,499	193,555	157,987	99,007	110,306	118,231
Changes in stocks
Value of physical changes in stocks on farms	-32	-36	-55	116	0	-19
Value of physical changes in EU intervention stocks	-9	-54	0	0	0	0
Value of physical changes in other stocks	965	1,878	4,364	4,695	9,085	16,070
Total value of physical changes in stocks	923	1,788	4,309	4,811	9,085	16,051
162. Gross domestic physical capital formation at current market prices	94,423	195,343	162,296	103,818	119,391	134,282
¹Preliminary

Table 11.2 Gross Domestic Fixed Capital Formation by Sector of Use at Current Market Prices							€ million
NACE REV. 2 section	Description	2018	2019	2020	2021	2022	2023 ¹
A	Agriculture, Forestry and Fishing	1,125	1,313	1,199	1,304	1,233	1,208
B	Mining and Quarrying	141	203	146	144	78	121
C	Manufacturing	32,443	90,576	65,870	39,462	36,974	39,479
D	Electricity, Gas, Steam and Air Conditioning Supply	1,517	1,366	1,360	1,465	1,561	1,748
E	Water supply; sewerage, waste management and remediation activities	540	664	698	706	1,083	1,226
F	Construction	444	592	481	577	429	532
G	Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles	1,954	1,582	2,302	1,726	2,199	2,329
H	Transportation and Storage	2,491	2,164	781	1,504	2,688	1,577
I	Accommodation and Food Service Activities	1,687	433	327	270	466	498
J	Information and Communication	14,257	47,919	55,446	14,635	20,552	19,165
K	Financial and Insurance Activities	2,589	3,132	2,712	2,676	2,646	2,542
L	Real Estate Activities	10,304	11,792	9,958	12,451	15,430	17,506
	of which:
	Dwellings (incl. transfer costs)	7,847	8,008	7,723	10,293	14,427	16,724
M	Professional, Scientific and Technical Activities	2,926	9,273	576	4,607	4,874	8,442
N	Administrative and Support Service Activities	15,815	17,106	10,568	11,395	13,720	15,302
O	Public Administration and Defence; Compulsory Social Security	2,289	2,784	2,791	3,045	3,088	3,231
	of which:
	Roads	1,086	1,232	1,419	1,645	1,709	1,801
P	Education	1,180	1,195	1,248	1,297	1,345	1,213
Q	Human Health and Social Work Activities	1,415	1,054	1,234	1,322	1,452	1,597
R	Arts, Entertainment and Recreation	295	310	221	310	356	380
S	Other Service Activities	85	97	68	110	131	135
	163. Gross domestic fixed capital formation at current market prices	93,499	193,555	157,987	99,007	110,306	118,231
¹Preliminary

Table 11.3 Gross Domestic Physical Capital Formation at Constant Market Prices (chain linked annually and referenced to year 2022)²						€ million
Description	2018	2019	2020	2021	2022	2023 ¹
Fixed capital
Dwellings	9,773	9,772	9,205	11,305	13,443	15,259
Roads	1,492	1,585	1,774	1,854	1,709	1,714
Other building and construction (including land rehabilitation etc.)	17,846	19,302	16,813	15,530	14,264	12,554
Costs associated with transfer of land and buildings	1,781	1,861	1,422	1,654	1,891	1,485
Transport equipment	21,762	21,602	13,329	14,569	17,036	17,310
Agricultural machinery	484	598	540	577	500	466
Other machinery and equipment	5,725	5,195	4,884	6,298	9,117	8,895
Cultivated biological resources	-25	41	11	31	-32	-52
Software	3,238	3,342	3,856	3,779	5,975	5,020
Exploration	74	142	72	80	61	38
Artistic originals	205	203	179	165	220	185
Research and development	43,904	141,395	119,479	50,438	46,123	50,520
Gross domestic fixed capital formation	105,233	210,129	175,522	106,416	110,306	113,393
Changes in stocks
Value of physical changes in stocks on farms	1	1	1	-2	0	-21
Value of physical changes in EU intervention stocks	-9	-54	0	0	0	0
Value of physical changes in other stocks	878	1,771	4,443	4,895	9,085	15,761
Total value of physical changes in stocks	841	1,689	4,399	5,018	9,085	15,740
164. Gross domestic physical capital formation at constant market prices	105,522	210,717	179,426	111,329	119,391	129,133
¹Preliminary
²Chain linked series not additive except for 2022 and 2023

Annual National Accounts 2023

Investment

Investment

Value of Investment was €134.3 billion in 2023

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