This dataset provides values for PERSONAL SAVINGS reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Despite some exceptions, the household savings rate during the COVID-19 pandemic was quite high in most of the countries considered. As of 2020, the saving rate of households in Switzerland was the highest among the selected countries (23.1 percent). Ireland followed in the list, with a saving rate of 21.6 percent.

This statistic shows the household saving rate of 25 selected OECD countries in 2015. In 2015, Switzerland had a household saving rate of 17.82 percent while Denmark had a household savings rate of -4.06 percent.

This dataset provides values for PERSONAL SAVINGS reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This dataset provides values for PERSONAL SAVINGS reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The average for 2022 based on 149 countries was 181.94 billion U.S. dollars. The highest value was in China: 8192.33 billion U.S. dollars and the lowest value was in Lebanon: -4.41 billion U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Among the 12 European Union (EU) countries for which there was data available in 2022, Ireland had highest savings per capita. Household gross savings in Germany, the largest economy in the EU, reached a value of 5,976 euros per capita. The data for Luxembourg in 2021 shows that the average household gross savings amounted to 7,612 euros per capita.

Between 2012 and 2024, German households have had the highest saving rates of the major economies in the European Union (EU-27). While the gross savings of German households amounted to over 20 percent of their disposable income in the first three quarters of 2024, that percentage just reached 12.4 percent in Italy.

In December 2024, the personal saving rate in the United States amounted to 3.8 percent. That was slightly lower figure than a year earlier. The personal saving rate is calculated as the ratio of personal savings to disposable personal income. Within the topic of personal savings in the U.S., there are different goals and reasons for saving. What are personal savings? Saving refers to strategies of accumulating capital for future use by either not spending a part of one’s income or cutting down on certain costs. Saved money may be preserved as cash, put on a deposit account, or invested in various financial instruments. Investing usually incorporates some level of risk which means that part of the invested money can be gone. An example of a relatively safe investment would be saving bonds, such as the debt securities issued by the U.S. Department of the Treasury. Saving trends in the U.S. and abroad Looking at the personal saving rate in the United States throughout the past decades, it can be observed that savings had been decreasing until the mid-2000s, and they increased after the 2008 financial crisis. Still, the largest savings rates were reached in 2020 and 2021. The reason for that increase in the savings rate that year might be related to the measures to contain the COVID-19 pandemic. The value of personal savings in the United Kingdom has also followed a similar trend. Although events like the COVID-19 pandemic may have affect many countries in a similar way, the ability to save, as well as the average savings as a share of personal income across countries can vary significantly depending on multiple factors affecting each territory.

Key information about China Gross Savings Rate

• China Gross Savings Rate was measured at 44.3% in Dec 2023, compared with 44.3% in the previous year.
• China Gross Savings Rate is updated yearly, with data available from Dec 1952 to Dec 2023, and an average rate of 44.3%.
• The data reached an all-time high of 44.3% in Dec 2010 and a record low of 16.5% in Dec 1962.
• CEIC calculates Gross Domestic Savings Rate from annual Gross Domestic Savings and annual Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. The National Bureau of Statistics provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, China GDP expanded 4.5% YoY in Mar 2023.
• China Nominal GDP reached 4,166,759.1 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 0.4% in Mar 2023.
• China GDP Per Capita reached 12,621.7 USD in Dec 2023.

In 2019, the household savings rates in these selected developed countries ranged from 0.4 percent of disposable income in Finland to 17.9 percent in Switzerland. In 2020, the coronavirus (COVID-19) outbreak and lockdowns implemented by governments led to an increase in the savings rate worldwide, due to reduced consumption expenditure.

Why do people save?

Savings behavior differs from country, as shown in this statistic. In the United States, most people save for unexpected expenses or retirement. In countries such as Finland, the savings rate may be lower because retirees can rely on generous pension funds. Other reasons that households save include vacation, educational expenses, and home purchase.

Factors that affect saving

High inflation leads to lower household savings. The projected increase in prices means that people would rather buy immediately, because saving and buying later means paying a higher price. As such, countries with an inflation rate are less likely to have a high savings rate. Other factors include a cultural disposition towards saving mechanisms, such as the emphasis on home ownership seen in the United States.

Personal savings in the United States reached a value of 911 billion U.S. dollars in 2023, which is significantly higher than in 2022. Personal savings peaked in 2020 at nearly 2.7 trillion U.S. dollars. Those figures remained very high until 2021. The excess savings during the COVID-19 pandemic in the U.S. and other countries were the main reason for that increase, as the measures implemented to contain the spread of the virus had an impact on consumer spending.

Saving before and after the 2008 financial crisisDuring the periods of growth and certain economic stability in the pre-2008 crisis period, there were falling savings rates. People were confident the good times would stay and felt comfortable borrowing money. Credit was easily accessible and widely available, which encouraged people to spend money. However, in times of austerity, people generally tend to their private savings due to a higher economic uncertainty. That was also the case in the wake of the 2008 financial crisis. Savings and inflationThe economic climate of high inflation and rising Federal Reserve interest rates in the U.S. made it increasingly difficult to save money in 2022. Not only does inflation affect the ability of people to save, but reversely, consumer behavior also affects inflation. On the one hand, prices can increase when the production costs are higher. That can be the case, for example, when the price of West Texas Intermediate crude oil or other raw materials increases. On the other hand, when people have a lot of savings and the economy is strong, high levels of consumer demand can also increase the final price of products.

Key information about India Gross Savings Rate

• India Gross Savings Rate was measured at 30.7% in Mar 2024, compared with 30.7% in the previous year.
• India Gross Savings Rate is updated yearly, with data available from Mar 1951 to Mar 2024, and an average rate of 30.7%.
• The data reached an all-time high of 30.7% in Mar 2008 and a record low of 7.9% in Mar 1954.
• CEIC calculates Gross Domestic Savings Rate from annual Gross Domestic Savings and annual Nominal GDP. Ministry of Statistics and Programme Implementation provides Gross Domestic Savings in local currency and Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Gross Domestic Savings Rate is annual frequency, ending in March of each year.
• In the latest reports, India GDP expanded 6.1% YoY in Mar 2023.
• India Nominal GDP reached 873,666.0 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 4.1% in Mar 2023.
• India GDP Per Capita reached 2,452.2 USD in Mar 2023.

In 2022, the savings of households in Switzerland represented over 19 percent of their disposable income. In contrast, households in South Africa and Italy amounted to 0.2 and 1.82 percent of their disposable income, respectively. Poland and Portugal had negative figures, which means that the final consumption of the households of that country was higher than their net disposable income.

China Household Savings Deposits Rate: Time: 1 Year data was reported at 1.500 % pa in 26 Mar 2025. This stayed constant from the previous number of 1.500 % pa for 25 Mar 2025. China Household Savings Deposits Rate: Time: 1 Year data is updated daily, averaging 1.500 % pa from Sep 1988 (Median) to 26 Mar 2025, with 13356 observations. The data reached an all-time high of 2.500 % pa in 10 May 2015 and a record low of 1.500 % pa in 26 Mar 2025. China Household Savings Deposits Rate: Time: 1 Year data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under High Frequency Database’s Deposit Rates – Table CN.MB: Saving Deposit Rate.

Key information about Japan Gross Savings Rate

• Japan Gross Savings Rate was measured at 28.8% in Mar 2022, compared with 28.8% in the previous quarter.
• Japan Gross Savings Rate is updated quarterly, with data available from Mar 1980 to Mar 2022, and an average rate of 28.8%.
• The data reached an all-time high of 28.8% in Mar 1992 and a record low of 22.9% in Mar 2014.
• CEIC calculates quarterly Gross National Savings Rate from quarterly Gross Savings and quarterly Gross National Income. Economic and Social Research Institute provides Gross Savings in local currency and Gross National Income in local currency, based on SNA 2008 with benchmark year 2015. Gross National Savings Rate prior to Q1 1994 is based on SNA 1993 with benchmark year 2000.
• In the latest reports, Japan GDP expanded 1.8% YoY in Mar 2023.
• Japan Nominal GDP reached 1,080,149.8 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 1.7% in Mar 2023.
• Japan GDP Per Capita reached 33,906.0 USD in Dec 2022.

Key information about Hong Kong SAR (China) Gross Savings Rate

• Hong Kong SAR (China) Gross Savings Rate was measured at 30.2% in Sep 2024, compared with 30.2% in the previous quarter.
• Hong Kong SAR (China) Gross Savings Rate is updated quarterly, with data available from Mar 1999 to Sep 2024, and an average rate of 30.2%.
• The data reached an all-time high of 30.2% in Sep 2006 and a record low of 19.0% in Jun 2023.
• CEIC calculates Gross National Savings Rate from quarterly Gross National Savings and quarterly Gross National Income. Gross National Savings is calculated as Gross National Income less Private and Government Consumption Expenditure plus Net Secondary Income. Census and Statistics Department provides Gross National Income, Private Consumption Expenditure, Government Consumption Expenditure and Secondary Income in local currency.
• In the latest reports, Hong Kong SAR (China) GDP expanded 2.8% YoY in Mar 2023.
• Hong Kong SAR (China) Nominal GDP reached 91,422.6 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 1.9% in Mar 2023.
• Hong Kong SAR (China) GDP Per Capita reached 48,990.8 USD in Dec 2022.

Key information about Chile Gross Savings Rate

• Chile Gross Savings Rate was measured at 20.7% in Sep 2024, compared with 20.7% in the previous quarter.
• Chile Gross Savings Rate is updated quarterly, with data available from Mar 1996 to Sep 2024, and an average rate of 20.7%.
• The data reached an all-time high of 20.7% in Mar 2007 and a record low of 14.8% in Jun 2022.
• CEIC calculates Gross National Savings Rate from quarterly Gross National Savings and quarterly Gross National Product. The Central Bank of Chile provides Gross National Savings in local currency and Gross National Product in local currency, both based on SNA 2008 with benchmark year 2018.
• In the latest reports, Chile GDP contracted 0.7% YoY in Mar 2023.
• Chile Nominal GDP reached 86,429.5 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 10.1% in Mar 2023.
• Chile GDP Per Capita reached 15,158.3 USD in Dec 2022.

This dataset provides values for INTEREST RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2021, 47 startups which focused on personal finance were active in Africa. Most of them were located in Nigeria and South Africa, each market with 17 and 12 companies, respectively. Overall, both countries lead the fintech scene in Africa.