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GROSS CAPITAL FORMATION

GROSS CAPITAL FORMATION. Prepared by : National Accounts Statistics Division, Department of Statistics, Malaysia 26 th April 2011. DEPARTMENT OF STATISTICS, MALAYSIA. OUTLINE. INTRODUCTION GROSS CAPITAL FORMATION ( GCF) GFCF – TYPES OF ASSET (SNA 1993) COMPONENT OF GFCF ESTIMATE

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GROSS CAPITAL FORMATION

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  1. GROSS CAPITAL FORMATION Prepared by : National Accounts Statistics Division, Department of Statistics, Malaysia 26th April 2011 DEPARTMENT OF STATISTICS, MALAYSIA

  2. OUTLINE • INTRODUCTION • GROSS CAPITAL FORMATION (GCF) • GFCF – TYPES OF ASSET (SNA 1993) • COMPONENT OF GFCF ESTIMATE • GFCF - DATA SOURCE (ANNUAL/QUARTERLY) • PUBLIC vs PRIVATE GFCF • CHANGE IN INVENTORIES • DATA SOURCE

  3. DEPARTMENT OF STATISTICS, MALAYSIA

  4. ORGANISATION DEPARTMENT OF STATISTICS, MALAYSIA

  5. MALAYSIA

  6. NATIONAL ACCOUNTS DIVISION

  7. GROSS CAPITAL FORMATION • 1993 SNA • is measured by the total value of • Gross Fixed Capital Formation • Changes in inventories • + • Acquisitions less disposal of valuables for a unit or sector

  8. CONCEPT & DEFINITION

  9. GROSS FIXED CAPITAL FORMATION: WHAT ARE THEY? SCOPE • They include: • New capital goods • Existing capital goods • Major improvements to existing capital goods • Cost of ownership transfer

  10. Component of GFCF by types of asset • GFCF can be divided into; • Structure (dwellings, other buildings, structures) • Machinery and equipment • Transport equipment • Mineral exploration • Others (cultivated assets) 10

  11. ESTIMATES OF GFCF ARE DIVIDED INTO FIVE PARTS: •  Structure – Construction activity • Major capital item – eg imported ships, aircrafts & equipment (NET) • Capital expenditure on oil exploration •  Selected imports goods that representing all other imported capital goods •  Selected commodities representing all domestically produced commodities

  12. Monthly Manufacturing • Survey • Monthly Trade Statistics • Quarterly Services Survey • Bank Negara Malaysia’s • Oil & Gas Survey • Quarterly Construction • Survey • Survey on Quarterly • NFPE’s CAPEX • Federal Government • Accounts DATA SOURCES QUARTERLY ANNUAL GROSS FIXED CAPITAL FORMATION • I-O Table 2000 • Quarterly Services Survey • Bank Negara Malaysia’s • Oil & Gas Survey • Annual/Biennial Survey & • Census • Financial Accounts of • Federal Gov., States Gov., • Local Authorities & • Statutory Bodies • Annual National Account • Survey on NFPE’s CAPEX

  13. PUBLIC vs PRIVATE GFCF • The enterprises where the government owns at least 51% equity will be categorised as Public Corporations (PCs) which are then included as public investment.  • Those with government equity less than 51% are categorised as private entities. • Similarly, the enterprises which are owned by states government are also categorized under Public Corporations.

  14. DEFLATORS TO OBTAIN CONSTANT PRICE ESTIMATES: • Producer Price Index ( Local Producer and Import Producer) • Internationally available price relative ( for major transport items)

  15. INDICATORS: • Imports of Capital Goods – Trade Statistics • Loans Disbursed to Businesses – www.bnm.gov.my • Sales of Commercial Vehicles ( No. of vehicles registration by company from RTD) • Development Expenditure (DE) - Federal Gov

  16. GROSS FIXED CAPITAL FORMATION PUBLIC By Economic Activity Federal States G F C F Government Statutory Bodies LocalAuthorities By Type of Asset By Sector Military equip. Public Corporation Non-financial Financial Structure PRIVATE By Economic Activity Machinery Non-financial Transport Equipment Private Corporation Financial Oil exploration Household Structure NPISHs

  17. CHANGES IN INVENTORIES INDICATORS : • Economic surveys (by DOSM). Note: inventories are usually concentrated in agriculture, mining, manufacturing, distributive trade. • Quantity data on inventories of particular products (volume).

  18. CHANGES IN INVENTORIES INDICATORS : • Prices • PPI components • Palm oil price (Malaysia Palm Oil Board) • Average prices for particular products

  19. CHANGES IN INVENTORIES • NOTE : • DEFLATE OPENING AND CLOSING VALUES, NOT THE CHANGE! • DERIVE CONSTANT FROM CURRENT PRICES – DEFLATOR

  20. Monthly Manufacturing Survey • Distributive Trade Survey • Census of Rubber Estates/Smallholders • Relevant Agencies DATA SOURCES QUARTERLY ANNUAL CHANGES IN INVENTORIES • Annual Manufacturing Survey • Annual Census of Rubber Estates • Wholesale and Retail Trade Survey • MPOB (Stock of CPO) • Petroleum

  21. Expenditure on Gross Domestic Product by Type of Expenditure at Constant 2000 Prices – Percentage Share of GDP

  22. THANK YOU

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