§ Mr. Jim Cunningham
To ask the Secretary of State for Trade and Industry what is the current rate of fixed capital formation(a) nationally, (b) in each region and (c) in other OECD countries. 477W
§ Mr. Wills
The answer is as follows:
Table 1: Gross fixed capital formation, expressed as a percentage of GDP, in the United Kingdom Year Percentage of GDP 1997 16.7 1998 17.3
Office for National Statistics (ONS). Derived from figures in First Release ONS (99) 69
(b)The ONS do not publish estimates of fixed capital formation covering all economic activity on a regional basis. The ONS do publish regional estimates of gross domestic fixed capital formation for a range of industries. The latest figures are for 1995.
Table 2: Gross domestic fixed capital formation, as a percentage of gross domestic product for selected industries, in Standard Statistical Regions in 19951 Region Percentage of GDP1 North 15.1 North West 15.9 Yorkshire and Humberside 17.1 East Midlands 13.5 West Midlands 14.4 East Anglia 12.8 South East 16.3 South West 14.0 England 15.4 Wales 17.9 Scotland 14.2 Northern Ireland 18.2 United Kingdom 15.5 1 Figures cover only Agriculture, hunting, forestry and fishing, Mining, quarrying (inc. oil and gas extraction), Manufacturing, Electricity, gas and water, and Transport, storage and communication
Office for National Statistics (ONS). Derived from figures in Economic Trends (June and January 1998)
Table 3: Gross fixed capital formation, expressed as a percentage of GDP in 1997, in OECD countries OECD member Percentage of GDP United Kingdom1 15.6 Australia 21.5 Austria 24.1 Belgium 17.8 Canada 18.8 Czech Republic 30.7 Denmark 20.1 Finland 16.9 France 17.1 Germany 19.9 Greece 20.0 Hungary 21.0 Iceland 18.8 Ireland 18.7 Italy 16.7 Japan 28.3 Republic of Korea 35.0 Luxembourg 22.4 Mexico 19.6 Netherlands 20.0 New Zealand 19.9 Norway 23.0 Poland 21.2
Table 3: Gross fixed capital formation, expressed as a percentage of GDP in 1997, in OECD countries OECD member Percentage of GDP Portugal 25.1 Spain 20.6 Sweden 13.7 Switzerland 19.6 Turkey 26.4 United States 17.4 1 Not comparable with equivalent figure in Table 1. The ONS figures in Table 1 are calculated using the new European System of Accounts (ESA 1995) while the OECD figures use an earlier national accounts classification.
OECD National Accounts 1999 Volume 1