The net value of the stock of produced assets stood at €1.3 trillion at the end of 2024. This was an increase of €9 billion (+0.7%) on the value at the end of 2023. When measured in constant prices, the net value of capital stock decreased by €42 billion (-3.2%) at the end of 2024. This implies that the overall level of investment in 2024 is lower than the depreciation in the stock of assets in the year.
| Net Capital Stock of Fixed Assets | € billion | |||||
| End of year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| Current Prices | 1,056 | 1,109 | 1,137 | 1,229 | 1,315 | 1,324 |
| Constant 2023 Prices | 1,297 | 1,351 | 1,334 | 1,314 | 1,315 | 1,273 |
Figure 1 shows a breakdown of the net capital stock of fixed assets by industry sector. The largest change in value was in the Real Estate sector, which grew by €37 billion (+7.8%) to a total of €504 billion. Most of the increase in this sector was due to a rise in the value of Dwellings, excluding land (see Table 1.1).
The next largest increase was in the Public Administration & Defence sector which grew by €3 billion (+3.7%), of which Roads increased by €1.7 billion (+3.2%). The Administrative & Support Service Activities sector grew by €2 billion (+1.6%).
While most sectors saw an increase in the value of their net stock, the Information & Communication sector decreased by €20 billion (-15.1%) and the Manufacturing sector decreased by €19 billion (-6.8%). The decline in both sectors was mainly driven by a decrease in the value of Research & Development related assets.
| X-axis label | Other Sectors | Public Administration & Defence | Information & Communication | Administrative & Support Service Activities | Manufacturing | Real Estate Activities |
|---|---|---|---|---|---|---|
| 2019 | 163.7077833216 | 57.7162246872 | 103.914192971 | 139.1830883596 | 306.91103662 | 284.8814325758 |
| 2020 | 162.9311473563 | 60.2855088176 | 146.2157226529 | 138.6441728523 | 300.1331185196 | 301.2537793729 |
| 2021 | 175.7208067315 | 67.669672242 | 141.7560892947 | 138.1747937456 | 279.5229456985 | 333.849880646 |
| 2022 | 193.6163506857 | 76.9092049963 | 141.6322479819 | 140.2689274058 | 275.174815035 | 401.6902959005 |
| 2023 | 205.7084796868 | 81.305035443 | 134.9550031308 | 152.9580453985 | 272.1606510813 | 467.7560919225 |
| 2024 | 211.3088593339 | 84.2863409826 | 114.5646293 | 155.3989970562 | 253.5692604714 | 504.383438089 |
Consumption of Fixed Capital (often termed depreciation) increased in value by €6 billion in 2024, to a total of €135 billion by the end of the year (see Table 1.5).
Over four-fifths of the total depreciation was concentrated in four Industry sectors: Manufacturing (€62 billion), Information & Communication (€26 billion), Administrative & Support Service Activities (€11 billion) and Real Estate Activities (€10 billion).
The most notable rise in the value of depreciation was in the Manufacturing sector, which increased by €4 billion (+7.3%). The Manufacturing sector accounts for over 45% of total depreciation.
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