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Construction output as gross fixed capital formation
Published in Stephen Gruneberg, Global Construction Data, 2019
National statistical agencies get a moment in the spotlight when releasing economic data for gross domestic product (GDP) but, underneath the simple percentage change in GDP that gets all the attention, there are many layers of data about the flow of economic activity through the economy. One of those layers is output at the industry level, the production of goods and services measured as value added by the identifiable industries within the economy, as defined by the United Nations System of National Accounts (UN, 2008a). One of those industries is called construction, which covers building and infrastructure work carried out by contractors or sometimes in-house by infrastructure firms such as water companies. Also, households undertake construction work in less developed countries and even in advanced economies, where it may form a small proportion of building work but is nevertheless significant. Construction as a share of GDP varies widely around the world. However, there is a rough framework where rapidly growing emerging economies have a high ratio of construction value added to GDP, often well over 10 per cent and slower growing developed economies where the share is less than 10 per cent (Girardi and Mura, 2014).
Influence of road investment and maintenance expenses on injured traffic crashes in European roads
Published in International Journal of Sustainable Transportation, 2023
José Navarro-Moreno, Francisco Calvo-Poyo, Juan de Oña
With reference to the data on economic resources invested in roadways, deserving mention – given its extensive coverage – is the database of the Organization for Economic Cooperation and Development (OECD), managed by the International Transport Forum (ITF), which collects data on investment in the construction of roads and expenditure on their maintenance, following the definitions of the United Nations System of National Accounts (2008 SNA). Despite some data gaps, overall the time series present consistency from one country to the next. Moreover, to confirm the consistency and complete missing data, we resorted to diverse additional sources, mainly the national Transport Ministries of the respective lands. All the monetary values were converted to constant prices in 2015 using the OECD price index (OECD, 2020).