In 2017, gross investment in the fixed capital stock in Belgium amounted to 19% of gross domestic product. There is no sustainable development goal for gross investment in the fixed capital stock.
Gross investment in the fixed capital stock - Belgium and international comparison
percentage of gross domestic product
|//: Average Growth Rates|
National Accounts Institute; Eurostat (2018), Gross fixed capital formation by AN_F6 asset type [nama_10_an6], https://ec.europa.eu/eurostat (consulted on 15/10/2018).
Definition: gross investment in the fixed capital stock (section AN.11, excluding section AN.117 of the national accounts; Eurostat, 2013) is expressed as a percentage of gross domestic product (GDP). The data for Belgium is collected by the National Accounts Institute. To allow comparison with other European countries, the data used come from Eurostat.
Goal: there is no sustainable development goal for gross investment in the fixed capital stock.
The Sustainable Development Goals or SDGs adopted by the UN in 2015 include target 9.1: “Develop quality, reliable, sustainable and resilient infrastructure, including regional and trans-border infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all”.
The Federal Long-Term Strategic Vision for Sustainable Development includes the following objective: "Economic development and environmental degradation will be fully disconnected”. This development gives a central position to the creation of decent jobs, while ensuring an adequate supply of goods and services that meets basic needs" (introduction to the challenge "a society that adjusts its economy to economic, social and environmental challenges"; Belgian Official Gazette, 08/10/2013).
To have a performing economy with as limited negative effects on the environment as possible, it is essential to have enough environmentally friendly capital goods available. Moreover, capital goods can also be used by future generations and contribute to their well-being. It is thus necessary to make enough investments in capital goods, not only to replace obsolete capital goods, but also to make capital goods more efficient and environmentally friendly, as new investments allow the latest technological developments to be taken into account. However, it is not possible to set an optimal level for this indicator.
International comparison: the comparison of Belgian figures with those of the European Union shows that, until 2008, the results were quite similar. Between 2008 and 2010, the indicator went down in Belgium as well as in the EU28 as a result of the economic and financial crisis. From 2010 onwards, the indicator remained broadly stable in Belgium, while it continued to decline for EU28. In 2017, the gap between EU28 and Belgium reached 2.7 percentage points.
UN indicator: The selected indicator does not correspond to any monitoring indicator for the SDGs but is related to target 9.1. Investing in the fixed capital stock provides indeed the necessary infrastructure for economic development.
SDGs, Sustainable Development Goals: United Nations (2015), Transforming our world: the 2030 Agenda for Sustainable Development. Resolution adopted by the General Assembly on 25 September 2015, document A/RES/70/1.
Indicators: United Nations (2017), Work of the Statistical Commission pertaining to the 2030 Agenda for Sustainable Development. Resolution adopted by the General Assembly on 6 July 2017, document A/RES/71/313.
UN Sustainable Development Knowledge Platform: https://sustainabledevelopment.un.org/ (consulted on 23/10/2018).
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