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.

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.

Household Saving Rate in the United States increased to 4.60 percent in January from 3.50 percent in December of 2024. This dataset provides - United States Personal Savings Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

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.

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.

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.

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.

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.

Ireland - Household saving rate was 13.52% in June of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Ireland - Household saving rate - last updated from the EUROSTAT on March of 2025. Historically, Ireland - Household saving rate reached a record high of 32.53% in June of 2020 and a record low of 10.55% in September of 2019.

Between 1982 and 2021, households savings fluctuated between 23 and 28 percent of global GDP. In 2021, this figure was nearly 0.9 percentage points higher than in the previous year, reaching nearly 27 percent. Household savings as a share of GDP peaked prior to the financial crisis of 2008, reaching over 28 percent in 2006.

Key information about Romania Gross Savings Rate

• Romania Gross Savings Rate was measured at 18.3% in Dec 2024, compared with 18.3% in the previous quarter.
• Romania Gross Savings Rate is updated quarterly, with data available from Mar 1995 to Dec 2024, and an average rate of 18.3%.
• The data reached an all-time high of 18.3% in Sep 1995 and a record low of -3.9% in Jun 1995.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. The National Institute of Statistics provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, Romania GDP expanded 2.9% YoY in Mar 2023.
• Romania Nominal GDP reached 86,036.3 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 14.4% in Mar 2023.
• Romania GDP Per Capita reached 14,987.8 USD in Dec 2021.

Key information about Norway Gross Savings Rate

• Norway Gross Savings Rate was measured at 36.6% in Sep 2024, compared with 36.6% in the previous quarter.
• Norway Gross Savings Rate is updated quarterly, with data available from Mar 1978 to Sep 2024, and an average rate of 36.6%.
• The data reached an all-time high of 36.6% in Sep 2022 and a record low of 26.5% in Dec 1992.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Statistics Norway provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, Norway GDP expanded 2.4% YoY in Mar 2023.
• Norway Nominal GDP reached 128,615.2 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) fell 5.7% in Mar 2023.
• Norway GDP Per Capita reached 106,110.7 USD in Dec 2022.

The average for 2023 based on 14 countries was 19.06 percent. The highest value was in Algeria: 41.23 percent and the lowest value was in the Seychelles: 3.16 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Global Total Household Savings Gross Rate by Country, 2023 Discover more data with ReportLinker!

Key information about South Korea Gross Savings Rate

• South Korea Gross Savings Rate was measured at 34.0% in Dec 2022, compared with 34.0% in the previous quarter.
• South Korea Gross Savings Rate is updated quarterly, with data available from Mar 1970 to Dec 2022, and an average rate of 34.0%.
• The data reached an all-time high of 34.0% in Sep 1988 and a record low of -1.0% in Mar 1972.
• CEIC calculates Gross National Savings Rate from quarterly Gross Savings and quarterly Gross National Income. The Bank of Korea provides Gross Savings in local currency and Gross National Income in local currency.
• In the latest reports, South Korea GDP expanded 1.3% YoY in Dec 2022.
• South Korea Nominal GDP reached 396,424.3 USD mn in Dec 2022. Its GDP deflator (implicit price deflator) increased 0.4% in Dec 2022.
• South Korea GDP Per Capita reached 32,236.8 USD in Dec 2022.

Key information about Turkey Gross Savings Rate

• Turkey Gross Savings Rate was measured at 23.9% in Dec 2024, compared with 23.9% in the previous quarter.
• Turkey Gross Savings Rate is updated quarterly, with data available from Mar 1998 to Dec 2024, and an average rate of 23.9%.
• The data reached an all-time high of 23.9% in Sep 2018 and a record low of 14.8% in Mar 2000.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Final Consumption Expenditure is calculated as the sum of Household, NPISHs and Government Consumption Expenditure. Turkish Statistical Institute provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, Turkey GDP expanded 4.0% YoY in Mar 2023.
• Turkey Nominal GDP reached 245,496.5 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 77.3% in Mar 2023.
• Turkey GDP Per Capita reached 15,463.4 USD in Dec 2024.