Table 7.1 below presents the minimum asset breakdown recommended by the 2008 System of National Accounts (2008 SNA).
While ICT assets are internationally traded and should be subject to similar price changes across countries, it has been observed that statistical agencies use (sometimes very) different price indices to deflate nominal investment in ICT assets. In addition, they also assume different depreciation rates and service lives for these assets. For these reasons, the OECD estimates productive capital stocks and capital services using a set of harmonised ICT investment deflators as well as common depreciation rates and average service lives for all assets and countries (Schreyer, 2002[1]).
Depending on the purpose of the analysis, different assets can be grouped into different categories. For example, dwellings, other buildings and structures, machinery and equipment and weapons systems, and cultivated biological resources may be grouped into tangible assets, as opposed to intangible assets, also referred to as intellectual property products (IPPs). A different classification often used in economic analysis distinguishes information and communication technology (ICT) and non-ICT assets. ICT assets include computer hardware, telecommunication equipment, and computer software and databases, while non-ICT assets include dwellings, other buildings and structures, transport equipment, other machinery and equipment and weapons systems, cultivated biological resources, and intellectual property products except computer software and databases.
The asset breakdown presented in Table 7.1 differs from the one recommended by the 2008 SNA for a few countries. In Korea, ICT equipment is included in other machinery equipment and weapons systems. In Australia, ownership transfer costs are included in total GFCF but are not allocated across assets. Consequently, the sum of GFCF for individual assets is lower than total GFCF for this country. In Norway, total GFCF excludes investment in weapons systems. In Indonesia, other buildings and structures are included in dwellings. In Argentina, China, Colombia, India, Saudi Arabia and Türkiye, the classification of GFCF by type of asset is not available. Therefore, only total GFCF is presented. In Canada and the United States, total GFCF excludes GFCF in cultivated biological resources.
For further methodological information, consult the OECD Productivity Statistics – Methodological notes at https://www.oecd.org/sdd/productivity-stats/OECD-Productivity-Statistics-Methodological-note.pdf.
