Germany government fixed capital formation, nominal
Germany government fixed capital formation, nominal stood at 156.56 EUR billion in 2025, according to Deutsche Bundesbank. It is one of the indicators in the National accounts (annual) table (Value · Annual), with a complete series running from 1991 to 2025. The complete series with an interactive chart, free to download.
This indicator in the National accounts (annual) table
| Indicator | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross fixed capital formation of general government, At current prices3 | 156.56 | 139.71 | 122.8 | 116.04 | 105.68 | 104.57 | 95.64 | 90.88 | 82.83 | 78.08 | |
| Gross fixed capital formation in machinery and equipment of general government, At current prices | 40.04 | 30.85 | 24.9 | 24.21 | 23.18 | 24.28 | 21 | 20.5 | 17.88 | 16.55 | |
| Gross fixed capital formation in construction of general government, At current prices | 83.89 | 78.74 | 70.32 | 64.62 | 58.93 | 58.25 | 53.23 | 49.82 | 45.64 | 42.91 |
Understanding germany government fixed capital formation, nominal
Consolidates the total expenditure by all levels of the public sector on durable physical and intangible assets. This aggregate brackets the capital outlay of federal ministries, regional states, municipal councils, and statutory social security funds. It encompasses everything from the construction of public schools and highway networks to the procurement of military transport, medical equipment for state hospitals, and bespoke administrative software. Distinguished from private sector equivalents, this row isolates the state's direct contribution to national infrastructure and public service capacity. It excludes everyday operational spending, civil servant salaries, and transfer payments like pensions or unemployment benefits.
Analyzing this annual indicator requires understanding the structural rigidities of state budgetary cycles, where multi-year spending appropriations are allocated per calendar year. Comparing sequential periods offers a clear view of fiscal expansion or contraction regarding public assets, though the current-price valuation means inflation in public contracting can distort the impression of real infrastructure growth. Revisions follow the delayed finalization of municipal accounts and the reconciliation of federal expenditure audits. Analysts should be cautious when cross-referencing this series with overall government spending, as large swaths of the public budget are directed toward current consumption rather than the long-term asset formation recorded here.
Frequently asked questions
- Are welfare payments to citizens included in this measure?
- Social benefits and transfer payments are categorized as current expenditure and are strictly excluded from fixed capital formation.
- Does this figure cover investments made by state-owned commercial enterprises?
- Entities operating on a market basis, even if state-owned, are usually classified within the corporate sector rather than general government.
- How are military weapons accounted for in these statistics?
- Modern national accounting standards treat large military platforms like ships and aircraft as fixed capital formation, recognizing their extended service life.