The GFCF or gross fixed capital formation is the Agrégat which measures in National accounting the Investissement (acquisitions less transfers) in Fixed asset of different the Economic agents resident.

The Fixed asset is the whole of the body credits or incorporeal intended to be used in the process of Production during at least a year (they are durable goods).

The GFCF of the Undertaken S and the Public administrations (State and other communities), consists of the purchase:

• of durables (Capital equipment, Housing S, buildings) acquired to be used at least a year in the process of Production,
• of goods and services incorporated in the acquired capital, the grounds, and the Intangible assets .

The concept of gross fixed capital formation also exists for the Ménage S, and includes/understands only the purchase of housing or important repairs of a housing, the other goods being treated in final consumption.

Since 1999, the measurement of the GFCF includes also certain immaterial investments like the expenditure of Logiciel S, before considered as Consommation S intermediaries.

Part of the GFCF includes the renewal of the worn or obsolete equipment. If one withdraws gross fixed capital formation this investment of replacement which is used to mitigate wear and obsolescence (or Amortissement), one obtains the clear Formation of fixed assets (FNCF, or new investment), a measurement rather little used.

The GFCF represents two thirds of the investments of the companies.