What is gross fixed capital formation (GFCF) in France?

Gross fixed capital formation (GFCF) in France measures the value of acquisitions of new or existing fixed assets by business, government, and household sectors, less disposals.

How far back does the France GFCF dataset go?

The quarterly France GFCF and business investment dataset published by INSEE provides historical series starting from 1949.

Which sectors are covered in the France investment dataset?

This dataset covers investment by non-financial companies, financial companies, general government, households, and non-profit institutions serving households (NPISHs).

What is the difference between current prices and chain-linked volumes for France GFCF?

Current prices reflect the actual monetary value of investment at the time it occurred, while chain-linked volumes adjust for inflation to show the real volume change in France GFCF.

France business investment and GFCF

Name: France business investment and GFCF
Creator: INSEE – Institut national de la statistique et des études économiques (BDM)
License: https://creativecommons.org/licenses/by/4.0/

France business investment and gross fixed capital formation (GFCF) are published quarterly by INSEE.

Source: INSEE – Institut national de la statistique et des études économiques (BDM)Last updated: Sep 14, 2026, 13:46Curated by Bui Thanh PhucAbout this data ↓

Indicator	Q2-2026	Q1-2026	Q4-2025	Q3-2025	Q2-2025	Q1-2025	Q4-2024	Q3-2024	Q2-2024	Q1-2024	Q4-2023	Q3-2023	Q2-2023
Chain-linked volumes69
GFCF of all sectors in all institutional sectors - Agricultural products	224	224	224	224	223	222	220	221	223	228	235	238	236
GFCF of all sectors in all institutional sectors - Capital goods	11,605	11,539	11,362	11,460	11,366	11,191	11,180	11,307	11,513	11,658	12,011	12,258	12,289
GFCF of all sectors in all institutional sectors - Transport equipment	10,727	10,463	10,570	10,727	10,509	10,417	10,156	9,865	10,697	10,624	10,679	10,973	10,481
GFCF of all sectors in all institutional sectors - Other manufactured products	10,378	10,626	10,674	10,807	10,836	10,620	10,557	10,730	10,635	10,660	10,529	10,499	10,451
GFCF of all sectors in all institutional sectors - Construction	59,026	59,172	60,437	60,195	60,082	60,152	60,707	61,491	61,835	62,128	62,398	62,890	63,142
GFCF of all sectors in all institutional sectors - Information and communication	24,191	24,186	23,713	23,600	23,183	23,059	23,038	22,803	22,796	22,181	21,994	21,786	21,643
GFCF of all sectors in all institutional sectors - Real estate services	1,992	2,022	2,064	2,005	2,008	2,019	1,940	1,862	1,811	1,834	1,909	1,971	2,091
GFCF of all sectors in all institutional sectors - Business Services	24,703	24,984	25,237	25,084	24,831	24,690	24,178	23,508	23,521	23,107	23,609	23,797	24,252
GFCF of all sectors in all institutional sectors - Household services	684	684	684	685	684	684	683	684	686	690	694	694	690
GFCF of financial companies - Capital goods	733	808	740	626	710	702	843	872	864	797	800	660	585
GFCF of financial companies - Transport equipment	303	330	359	368	354	320	264	217	203	187	186	192	183
GFCF of financial companies - Other manufactured products	204	202	195	196	201	209	227	240	237	224	198	181	174
GFCF of financial companies - Construction	2,367	2,323	2,276	2,269	2,312	2,405	2,532	2,621	2,654	2,631	2,563	2,487	2,413
GFCF of financial companies - Information and communication	2,176	2,176	2,134	2,125	2,094	2,089	2,098	2,090	2,105	2,069	2,072	2,066	2,057
GFCF of financial companies - Real estate services	42	41	40	39	40	43	46	47	48	48	48	46	45
GFCF of financial companies - Business Services	249	243	241	239	239	247	257	263	265	257	251	249	255
GFCF of financial companies - Household services	55	56	58	60	63	66	69	72	72	71	69	66	63
GFCF of financial companies - Goods	1,248	1,347	1,305	1,208	1,279	1,243	1,334	1,326	1,299	1,205	1,180	1,033	942
GFCF of financial companies - Manufactured goods	1,248	1,347	1,305	1,208	1,279	1,243	1,334	1,326	1,299	1,205	1,180	1,033	942
GFCF of financial companies - Industrial goods	1,248	1,347	1,305	1,208	1,279	1,243	1,334	1,326	1,299	1,205	1,180	1,033	942
GFCF of financial companies - Market services	2,519	2,514	2,471	2,461	2,433	2,444	2,468	2,470	2,488	2,443	2,437	2,426	2,418
GFCF of financial companies - Services	4,866	4,815	4,725	4,707	4,726	4,832	4,987	5,080	5,132	5,066	4,989	4,900	4,815
GFCF of all sectors in all institutional sectors - Goods	32,925	32,851	32,842	33,231	32,948	32,464	32,120	32,119	33,082	33,178	33,454	33,972	33,444
GFCF of all sectors in all institutional sectors - Manufactured goods	32,704	32,629	32,620	33,010	32,728	32,245	31,902	31,900	32,861	32,951	33,220	33,735	33,209
GFCF of all sectors in all institutional sectors - Industrial goods	32,704	32,629	32,620	33,010	32,728	32,245	31,902	31,900	32,861	32,951	33,220	33,735	33,209
GFCF of all sectors in all institutional sectors - Market services	51,487	51,796	51,626	51,302	50,637	50,382	49,768	48,780	48,738	47,738	48,139	48,188	48,628
GFCF of all sectors in all institutional sectors - Services	110,136	110,581	111,733	111,174	110,425	110,255	110,242	110,122	110,441	109,799	110,461	111,017	111,697
GFCF of general government - Capital goods	611	606	624	659	639	647	631	631	620	613	584	581	573
GFCF of general government - Transport equipment	2,409	2,406	2,352	2,296	2,205	2,074	1,987	1,949	1,975	2,028	2,097	2,196	2,167
GFCF of general government - Other manufactured products	571	592	600	611	613	594	581	587	575	571	556	550	542
GFCF of general government - Construction	15,100	15,355	15,775	15,696	15,694	15,423	15,304	15,504	15,496	14,988	14,667	14,470	14,364
GFCF of general government - Information and communication	2,077	2,085	2,062	2,068	2,053	2,045	2,057	2,030	1,981	1,876	1,783	1,719	1,710
GFCF of general government - Business Services	6,857	6,891	6,891	6,884	6,863	6,910	6,893	6,863	6,824	6,726	6,697	6,619	6,593
GFCF of general government - Household services	115	114	113	112	111	110	108	107	107	106	106	105	103
GFCF of general government - Goods	3,591	3,604	3,575	3,564	3,455	3,310	3,195	3,163	3,166	3,208	3,236	3,324	3,280
GFCF of general government - Manufactured goods	3,591	3,604	3,575	3,564	3,455	3,310	3,195	3,163	3,166	3,208	3,236	3,324	3,280
GFCF of general government - Industrial goods	3,591	3,604	3,575	3,564	3,455	3,310	3,195	3,163	3,166	3,208	3,236	3,324	3,280
GFCF of general government - Market services	9,044	9,085	9,062	9,059	9,023	9,061	9,055	8,997	8,909	8,707	8,588	8,445	8,407
GFCF of general government - Services	24,143	24,444	24,857	24,773	24,737	24,493	24,363	24,516	24,425	23,709	23,264	22,926	22,781
GFCF of households - Construction	20,488	20,503	20,970	20,956	20,841	20,950	21,067	21,301	21,645	22,533	23,311	24,070	24,567
GFCF of households - Real estate services	1,618	1,641	1,674	1,627	1,623	1,621	1,547	1,479	1,436	1,453	1,515	1,568	1,668
GFCF of households - Business Services	6,055	6,127	6,090	5,960	5,943	5,809	5,571	5,181	5,258	5,126	5,367	5,563	6,014
GFCF of households - Market services	7,676	7,771	7,764	7,588	7,568	7,429	7,118	6,659	6,695	6,578	6,880	7,130	7,682
GFCF of households - Services	28,076	28,180	28,649	28,472	28,335	28,320	28,167	27,970	28,353	29,147	30,218	31,227	32,268
GFCF of NPISHs - Capital goods	276	275	277	285	278	282	284	288	286	283	273	270	269
GFCF of NPISHs - Transport equipment	131	131	131	131	130	131	129	128	130	128	125	125	122
GFCF of NPISHs - Other manufactured products	116	118	118	119	119	117	117	117	115	113	110	107	106
GFCF of NPISHs - Construction	781	780	778	778	778	779	781	780	775	767	757	749	743
GFCF of NPISHs - Information and communication	22	22	22	22	21	21	21	21	22	22	22	22	22
GFCF of NPISHs - Business Services	93	92	93	92	90	90	90	89	89	87	87	87	87
GFCF of NPISHs - Goods	523	524	527	535	527	530	530	533	530	523	508	502	496
GFCF of NPISHs - Manufactured goods	523	524	527	535	527	530	530	533	530	523	508	502	496
GFCF of NPISHs - Industrial goods	523	524	527	535	527	530	530	533	530	523	508	502	496
GFCF of NPISHs - Market services	116	115	115	114	112	112	111	111	111	109	110	110	109
GFCF of NPISHs - Services	897	895	894	892	891	892	893	891	887	877	867	859	852
Investment by non-financial companies - Agricultural products	224	224	224	224	223	222	220	221	223	228	235	238	236
Investment by non-financial companies - Capital goods	9,990	9,862	9,730	9,887	9,744	9,568	9,443	9,539	9,763	9,978	10,352	10,743	10,856
Investment by non-financial companies - Transport equipment	7,917	7,635	7,761	7,961	7,846	7,913	7,794	7,588	8,400	8,295	8,289	8,481	8,031
Investment by non-financial companies - Other manufactured products	9,487	9,714	9,761	9,881	9,903	9,700	9,633	9,785	9,709	9,753	9,664	9,661	9,631
Investment by non-financial companies - Construction	20,270	20,186	20,608	20,466	20,426	20,572	21,012	21,276	21,255	21,202	21,094	21,106	21,045
Investment by non-financial companies - Information and communication	19,917	19,905	19,497	19,386	19,015	18,904	18,861	18,661	18,689	18,215	18,119	17,981	17,857
Investment by non-financial companies - Real estate services	335	342	352	341	346	356	347	336	328	333	347	356	379
Investment by non-financial companies - Business Services	11,545	11,730	12,027	12,012	11,797	11,731	11,451	11,198	11,169	10,994	11,303	11,365	11,368
Investment by non-financial companies - Household services	514	513	513	512	510	508	505	505	507	512	519	523	523
Investment by non-financial companies - Goods	27,589	27,412	27,466	27,943	27,710	27,400	27,084	27,117	28,100	28,251	28,530	29,111	28,723
Investment by non-financial companies - Manufactured goods	27,366	27,189	27,242	27,720	27,488	27,179	26,864	26,897	27,879	28,024	28,295	28,874	28,487
Investment by non-financial companies - Industrial goods	27,366	27,189	27,242	27,720	27,488	27,179	26,864	26,897	27,879	28,024	28,295	28,874	28,487
Investment by non-financial companies - Market services	32,308	32,489	32,392	32,255	31,673	31,503	31,165	30,699	30,692	30,053	30,289	30,228	30,129
Investment by non-financial companies - Services	52,401	52,487	52,837	52,556	51,953	51,942	52,072	51,904	51,875	51,206	51,320	51,273	51,113
Current prices69
GFCF of all sectors in all institutional sectors - Agricultural products	334	327	320	315	312	311	311	313	316	320	325	326	323
GFCF of all sectors in all institutional sectors - Capital goods	13,054	12,795	12,565	12,631	12,559	12,461	12,368	12,487	12,727	12,886	13,239	13,535	13,551
GFCF of all sectors in all institutional sectors - Transport equipment	12,806	12,425	12,572	12,716	12,449	12,379	11,945	11,534	12,370	12,364	12,542	12,818	12,213
GFCF of all sectors in all institutional sectors - Other manufactured products	12,817	12,994	12,923	12,973	12,974	12,670	12,490	12,606	12,455	12,380	12,127	11,989	11,769
GFCF of all sectors in all institutional sectors - Construction	72,231	71,690	72,711	72,166	71,898	71,992	72,148	72,865	73,191	73,554	73,612	73,887	74,227
GFCF of all sectors in all institutional sectors - Information and communication	26,378	26,249	25,709	25,601	25,020	24,934	24,852	24,450	24,385	23,606	23,346	22,985	22,701
GFCF of all sectors in all institutional sectors - Real estate services	2,075	2,104	2,155	2,110	2,094	2,101	2,005	1,932	1,850	1,869	1,970	2,071	2,202
GFCF of all sectors in all institutional sectors - Business Services	28,105	28,143	28,222	27,991	27,659	27,256	26,651	25,966	25,887	25,348	25,772	26,041	26,467
GFCF of all sectors in all institutional sectors - Household services	711	706	700	697	696	698	702	703	702	698	691	683	674
GFCF of financial companies - Capital goods	772	827	756	642	726	719	847	870	864	800	798	674	603
GFCF of financial companies - Transport equipment	346	378	413	423	405	366	300	248	233	216	214	222	209
GFCF of financial companies - Other manufactured products	241	237	226	225	232	242	261	275	271	256	227	209	200
GFCF of financial companies - Construction	2,850	2,770	2,691	2,668	2,705	2,810	2,954	3,043	3,067	3,039	2,960	2,863	2,773
GFCF of financial companies - Information and communication	2,374	2,361	2,311	2,303	2,257	2,258	2,264	2,243	2,253	2,202	2,197	2,176	2,153
GFCF of financial companies - Real estate services	40	41	43	44	46	48	49	51	51	51	50	49	46
GFCF of financial companies - Business Services	295	281	272	265	264	273	286	294	296	287	278	275	279
GFCF of financial companies - Household services	56	57	58	60	63	66	70	72	73	71	67	64	61
GFCF of financial companies - Goods	1,359	1,442	1,395	1,290	1,364	1,327	1,408	1,393	1,368	1,272	1,239	1,104	1,012
GFCF of financial companies - Manufactured goods	1,359	1,442	1,395	1,290	1,364	1,327	1,408	1,393	1,368	1,272	1,239	1,104	1,012
GFCF of financial companies - Industrial goods	1,359	1,442	1,395	1,290	1,364	1,327	1,408	1,393	1,368	1,272	1,239	1,104	1,012
GFCF of financial companies - Market services	2,765	2,741	2,684	2,672	2,629	2,645	2,669	2,659	2,673	2,611	2,593	2,563	2,539
GFCF of financial companies - Services	5,615	5,510	5,375	5,340	5,334	5,455	5,623	5,703	5,740	5,650	5,553	5,427	5,312
GFCF of all sectors in all institutional sectors - Goods	39,011	38,541	38,381	38,636	38,294	37,820	37,113	36,939	37,868	37,950	38,233	38,668	37,856
GFCF of all sectors in all institutional sectors - Manufactured goods	38,677	38,214	38,060	38,321	37,982	37,510	36,802	36,627	37,553	37,630	37,907	38,342	37,533
GFCF of all sectors in all institutional sectors - Industrial goods	38,677	38,214	38,060	38,321	37,982	37,510	36,802	36,627	37,553	37,630	37,907	38,342	37,533
GFCF of all sectors in all institutional sectors - Market services	57,269	57,200	56,786	56,399	55,469	54,989	54,210	53,051	52,824	51,521	51,779	51,780	52,044
GFCF of all sectors in all institutional sectors - Services	129,500	128,890	129,497	128,564	127,367	126,981	126,358	125,916	126,015	125,075	125,391	125,668	126,271
GFCF of general government - Capital goods	679	657	673	710	691	703	676	672	661	653	618	620	612
GFCF of general government - Transport equipment	2,714	2,682	2,638	2,573	2,486	2,380	2,262	2,199	2,205	2,275	2,386	2,447	2,420
GFCF of general government - Other manufactured products	672	685	680	682	681	658	642	651	641	638	623	618	608
GFCF of general government - Construction	18,960	19,007	19,345	19,147	19,068	18,826	18,590	18,728	18,658	18,031	17,710	17,315	17,116
GFCF of general government - Information and communication	2,280	2,279	2,252	2,258	2,231	2,223	2,228	2,185	2,127	2,006	1,904	1,829	1,811
GFCF of general government - Business Services	7,844	7,833	7,786	7,750	7,713	7,748	7,707	7,657	7,598	7,467	7,396	7,286	7,225
GFCF of general government - Household services	120	118	117	115	114	113	112	110	109	108	106	104	101
GFCF of general government - Goods	4,064	4,024	3,991	3,965	3,858	3,741	3,580	3,523	3,508	3,567	3,628	3,685	3,641
GFCF of general government - Manufactured goods	4,064	4,024	3,991	3,965	3,858	3,741	3,580	3,523	3,508	3,567	3,628	3,685	3,641
GFCF of general government - Industrial goods	4,064	4,024	3,991	3,965	3,858	3,741	3,580	3,523	3,508	3,567	3,628	3,685	3,641
GFCF of general government - Market services	10,245	10,231	10,155	10,123	10,058	10,084	10,047	9,953	9,835	9,580	9,406	9,218	9,137
GFCF of general government - Services	29,205	29,238	29,500	29,270	29,126	28,909	28,637	28,681	28,492	27,611	27,116	26,533	26,253
GFCF of households - Construction	25,059	24,837	25,261	25,186	25,027	25,045	25,074	25,321	25,665	26,697	27,430	28,350	28,997
GFCF of households - Real estate services	1,656	1,676	1,714	1,678	1,658	1,655	1,571	1,511	1,450	1,473	1,565	1,659	1,775
GFCF of households - Business Services	6,811	6,859	6,834	6,728	6,631	6,286	6,019	5,644	5,663	5,526	5,878	6,225	6,724
GFCF of households - Market services	8,467	8,535	8,548	8,405	8,289	7,941	7,590	7,155	7,113	6,999	7,442	7,884	8,498
GFCF of households - Services	33,526	33,372	33,809	33,591	33,316	32,987	32,664	32,476	32,779	33,696	34,872	36,234	37,496
GFCF of NPISHs - Capital goods	303	293	294	302	295	299	293	294	291	289	278	280	281
GFCF of NPISHs - Transport equipment	153	153	153	152	151	152	150	148	151	149	146	147	141
GFCF of NPISHs - Other manufactured products	139	139	137	137	136	136	135	135	134	133	131	129	128
GFCF of NPISHs - Construction	983	964	944	930	922	919	920	919	913	903	890	878	868
GFCF of NPISHs - Information and communication	24	24	24	23	23	23	23	23	23	24	24	24	23
GFCF of NPISHs - Business Services	111	108	107	105	103	104	104	103	103	101	100	99	98
GFCF of NPISHs - Goods	595	585	584	591	583	587	578	577	577	571	555	556	550
GFCF of NPISHs - Manufactured goods	595	585	584	591	583	587	578	577	577	571	555	556	550
GFCF of NPISHs - Industrial goods	595	585	584	591	583	587	578	577	577	571	555	556	550
GFCF of NPISHs - Market services	135	132	131	129	126	127	127	126	127	124	124	123	122
GFCF of NPISHs - Services	1,118	1,095	1,075	1,059	1,048	1,046	1,047	1,045	1,040	1,028	1,014	1,001	989
Investment by non-financial companies - Agricultural products	334	327	320	315	312	311	311	313	316	320	325	326	323
Investment by non-financial companies - Capital goods	11,301	11,017	10,842	10,977	10,847	10,740	10,551	10,651	10,910	11,143	11,545	11,962	12,055
Investment by non-financial companies - Transport equipment	9,593	9,213	9,368	9,569	9,406	9,480	9,233	8,938	9,781	9,724	9,795	10,001	9,442
Investment by non-financial companies - Other manufactured products	11,765	11,934	11,880	11,929	11,924	11,635	11,451	11,545	11,409	11,353	11,145	11,033	10,834
Investment by non-financial companies - Construction	24,379	24,113	24,469	24,235	24,176	24,392	24,609	24,854	24,888	24,884	24,622	24,481	24,473
Investment by non-financial companies - Information and communication	21,699	21,584	21,122	21,016	20,510	20,430	20,337	19,999	19,981	19,374	19,221	18,956	18,714
Investment by non-financial companies - Real estate services	379	386	398	389	390	399	385	370	349	345	355	363	381
Investment by non-financial companies - Business Services	13,044	13,062	13,223	13,144	12,948	12,844	12,536	12,267	12,226	11,967	12,120	12,156	12,142
Investment by non-financial companies - Household services	535	530	525	522	520	519	520	521	521	520	518	515	512
Investment by non-financial companies - Goods	32,992	32,491	32,410	32,790	32,489	32,167	31,546	31,447	32,416	32,540	32,810	33,322	32,653
Investment by non-financial companies - Manufactured goods	32,658	32,164	32,090	32,475	32,177	31,856	31,235	31,135	32,100	32,220	32,485	32,996	32,331
Investment by non-financial companies - Industrial goods	32,658	32,164	32,090	32,475	32,177	31,856	31,235	31,135	32,100	32,220	32,485	32,996	32,331
Investment by non-financial companies - Market services	35,658	35,562	35,268	35,070	34,367	34,192	33,778	33,157	33,076	32,207	32,214	31,991	31,748
Investment by non-financial companies - Services	60,036	59,675	59,737	59,305	58,543	58,584	58,387	58,011	57,964	57,090	56,835	56,473	56,221

Latest reading

The latest reading is 224, for Q2 2026. That is unchanged from Q1 2026 and +0.4% from a year earlier. The series on this page is quarterly and runs from Q1 1949 to Q2 2026.

Latest: 224; Q2 2026
vs previous period: 0.0%; Q1 2026
vs a year earlier: +0.4%

About this data

France business investment and gross fixed capital formation (GFCF) are published quarterly by INSEE. This dataset provides GFCF broken down by institutional sector, including non-financial companies, households, and general government. It also details investment by product type, such as construction, manufactured goods, and information services. Figures are available in current prices and chain-linked volumes since 1949.

Frequently asked questions

What is gross fixed capital formation (GFCF) in France?: Gross fixed capital formation (GFCF) in France measures the value of acquisitions of new or existing fixed assets by business, government, and household sectors, less disposals.
How far back does the France GFCF dataset go?: The quarterly France GFCF and business investment dataset published by INSEE provides historical series starting from 1949.
Which sectors are covered in the France investment dataset?: This dataset covers investment by non-financial companies, financial companies, general government, households, and non-profit institutions serving households (NPISHs).
What is the difference between current prices and chain-linked volumes for France GFCF?: Current prices reflect the actual monetary value of investment at the time it occurred, while chain-linked volumes adjust for inflation to show the real volume change in France GFCF.