Latest transport infrastructure investments reveal great variation between countries
Investment spending on inland transport infrastructure as a percentage of GDP ranges from 0.1% in Ireland to 3% in Azerbaijan, based on the latest data collected by ITF.
Among countries that spend less than 1% of their GDP on building new inland transport infrastructure are the most developed countries that feature mature transport systems with fewer opportunities to build new infrastructure. In Europe, this group includes countries that have previously benefited from EU funds and now have relatively modern infrastructure, like Poland and Bulgaria.
In the analysis, four countries spend over 2% of their GDP on investing in transport infrastructure, almost entirely in road infrastructure. North Macedonia invested mainly in highways, road rehabilitation and related enhancements. In 2019, Serbia approved a new National Investment Plan, with most of the funds earmarked for infrastructure projects. China continues to invest in transport infrastructure under the Belt and Road Initiative.
Azerbaijan’s leading investment position is explained by its location at the intersection of the East-West and North-South transport corridors, resulting in significant spending on transport infrastructure in recent years. Optimising both corridors, Azerbaijan could potentially attract an additional trade volume of almost 230 million tonnes, from the current level of 194 million tonnes. To achieve this objective, investment has focused on upgrading transport infrastructure to EU standards to cope with increasing intercontinental traffic. The main road transport project is the construction and rehabilitation of 10 185 km of roads and highways. The principal rail project is the Baku-Tbilisi-Kars railway line, connecting the Trans-European and Trans-Asian railway networks.
Compare the latest ranking of transport investment spending across countries
Investment spending in inland transport infrastructure as a % of GDP, average 2021-23
Go to top
Serbia shows greatest investment increase over past decade
In Poland and Bulgaria, spending on transport infrastructure investment halved between 2013 and 2023, according to a three-year average.
After a peak in 2011 of 2.5% of GDP, investment spending in Poland has been stable around 0.7% since 2014. 2011 coincided with the highest levels of investment from the 2007-2013 cycle of the European Regional Development Fund (ERDF) and the European Union’s Cohesion Fund (CF). Almost half of the funding went to investment in transport, mainly on the construction of new roads and the upgrading of others, as well as the modernisation of railway lines. In the 2014-2020 cycle, less funding was devoted to transport infrastructure.
In Bulgaria, spending on investment in transport infrastructure peaked in 2015, reaching 2.5% of GDP. Since 2015, there has been a continuous drop reaching 1% of GDP in 2023. In the 2007-2013 cycle of the ERDF and the European Union’s CF, 40% of the funding was allocated to transport infrastructure, such as the construction of new roads - mainly on the TEN-T network - and upgrading existing roads and railway lines.
A decade of transport investment compared
Difference in total inland infrastructure spending as a percentage of GDP (in percentage points), average 2021-23 compared to average 2011-13
The opposite happened in Serbia. On average, between 2011 and 2013, spending on investment in transport infrastructure was at 0.9% of GDP, reaching 2.5% in 2021-23. For decades, Serbia's transport infrastructure had been underfunded.
Beginning in 2015, the construction of Pan-European Network Corridors X and XI led to an increase in investment. Pan-European Corridors were initially created to link EU with non-EU countries. Corridor X is a road connection running from Salzburg (Austria) to Thessaloniki (Greece), passing through Slovenia, Croatia, Serbia and North Macedonia. Corridor XI is a ferry and motorway axis linking Bari (Italy) with Bucharest (Romania), via Montenegro and Serbia. In December 2019, the Serbian government announced a National Investment Plan with most funds earmarked for infrastructure projects, including rail and road upgrades. Consequently, transport infrastructure investment spending jumped from 1.4% in 2020 to 2.3% in 2021. The main projects are the highways and railroads along pan-European Corridor X, which will run from Romania to Montenegro’s port of Bar, other highways in the Serbian territory, and the upgrade of the railway between Serbia and Bosnia and Herzegovina.
Serbia catches up from decades of underfunded transport infrastructure
Total inland transport infrastructure spending as a % of GDP in Serbia, 2011-2023
Few countries drive the shift to rail
Only three countries - Italy, Slovenia and France - allocated more than 50% of their inland transport infrastructure investment to rail in the period 2021-23. All other countries in the study invested more in road than in rail infrastructure.
From 2020, Italy doubled its spending on rail infrastructure as a percentage of GDP. Projects include the construction of new rail connections, the enhancement of existing ones, and the modernisation of the railway system. In 2021, the Italian government approved the Recovery and Resilience Plan to manage the funds of “NextGenerationEU”, the largest ever stimulus package undertaken in the EU, focusing on new growth based on clean, innovative and inclusive economic and digital policies. Thirteen per cent of the European funds, equivalent to EUR 25.4 billion, are allocated to high-speed rail, particularly in Southern Italy, and to intermodal transport. The projects of the Recovery and Resilience Plan should be completed before 2026. This means that the investment spending in rail infrastructure will remain high also in the next years.
In Slovenia, since 2021, the government has invested extensively in renewing and upgrading the national rail infrastructure. The investment is from both the state budget and European funds for rail infrastructure investment and maintenance.
Modal investment mix by country
Distribution of investment spending by mode, average 2021-23
Go to top
Lithuania leads on port investment
Investment spending in ports as a percentage of GDP ranges between 0.01% in Greece and 0.21% in Lithuania, on average, from 2021 to 23.
In 2022 and 2023, Lithuania invested mainly in the port of Klaipeda, with the objective of transforming it into an important European maritime transport hub. The project will allow the seaport to accommodate larger vessels by rehabilitating, extending and deepening the port’s quay, leading to greater productivity. While this investment expands the port’s capacity and increases its importance for international transport, the impact on the environment and CO2 emissions has been minimised.
Which countries lead on port investment?
Maritime investment as a percentage of GDP, average 2021-23
About the Statistics
The ITF statistics on investment, maintenance expenditure and capital value of transport infrastructure for 1995-2023 are based on a survey sent to current ITF member countries. The survey covers total gross investment (defined as new construction, extensions, reconstruction, renewal and major repair) in road, rail, inland waterways, maritime ports and airports, including all sources of financing. It also covers maintenance expenditures financed by public administrations and the capital value of transport infrastructure. Inland infrastructure investment covers rail, road and inland waterways transport modes.
The ITF Secretariat collects data from member countries in national currencies, which are then converted to current prices and constant euros. Significant efforts have been devoted to collecting relevant deflators needed to calculate the constant Euro equivalent of data provided, since no purchasing power parity corrected general index exists for transport infrastructure investment.
Where available, a cost index for construction on land and water is used. Where these indices are not available, a manufacturing cost index or a GDP deflator is used.
Detailed country data for inland modes, maritime ports and airports, more detailed data descriptions and notes on the methodologies are available on the OECD Data Explorer website.
The data in this Statistics Brief are as of 15 June 2025. Online datasets can be updated following countries’ revisions.
Disclaimer
The opinions expressed and arguments employed herein do not necessarily reflect the official views of the member countries of the ITF. This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries, and to the name of any territory, city or area.
Go to top
