Countries by Gross savings (current US$)

Ranking 2024

Analysis

Gross savings measures the portion of national income not spent on final consumption. According to the World Bank World Development Indicators (indicator NY.GNS.ICTR.CD), savings represent the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. Values are expressed in current US dollars with no adjustment for price changes over time. This ranking covers 169 countries, with 161 of 169 countries (95.3%) providing data from the last seven years and 100% of datapoints classified as official-quality. Data recency varies: only 125 of 169 countries (74.0%) have data from the latest reference year of 2024.

The top of the ranking is dominated by the world's largest economies. China (rank 1) records $8.03 trillion, followed by the United States (rank 2) at $5.12 trillion and Germany (rank 3) at $1.27 trillion. Japan (rank 4) and India (rank 5) are closely matched at $1.25 trillion and $1.18 trillion respectively. France (rank 6), Russian Federation (rank 7), Korea (rank 8), United Kingdom (rank 9), and Italy (rank 10) all fall between $563 billion and $677 billion. High absolute savings values reflect large populations, high national incomes, or both, as this metric is not adjusted per capita.

Mid-ranked countries show considerable diversity. Singapore (rank 21) at $220 billion outranks much larger economies such as Brazil (rank 19) at $309 billion in per-capita terms, though Brazil exceeds it in absolute value. Uzbekistan (rank 56) at $32.5 billion sits ahead of Ecuador (rank 57) at $29.8 billion and Ethiopia (rank 59) at $29.5 billion, countries with very different income levels. At the lower end of the ranking, 7 countries record negative gross savings values, meaning national consumption exceeded income plus net transfers. These include Palau (rank 163) at negative $35 million, Seychelles (rank 164) at negative $109 million, Malawi (rank 165) at negative $151 million, Timor-Leste (rank 166) at negative $394 million, Afghanistan (rank 167) at negative $546 million, Yemen (rank 168) at negative $1.41 billion, and Lebanon (rank 169) at negative $2.55 billion.

Because values are expressed in current US dollars without per-capita or GDP normalization, larger countries have a structural advantage in absolute rankings. A country with high savings as a share of GDP but a small economy may rank far lower than a large economy with a modest savings rate. Exchange rate fluctuations can also shift rankings for countries whose national data is reported in local currency. The 20 extreme statistical outliers identified in this dataset (at a 3-standard-deviation threshold) indicate that the distribution is highly skewed. For countries with data not from 2024, values reflect earlier years and may not be directly comparable to those with current data.

Methodology

Data source: World Bank World Development Indicators, indicator code NY.GNS.ICTR.CD, data year 2024. The metric is defined as follows: savings represent the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. The ranking covers 169 countries. Data quality is high: 100% of datapoints are classified as official, and 161 of 169 countries (95.3%) have data from within the last seven years. However, only 125 of 169 countries (74.0%) have data from the latest reference year of 2024, meaning some country values reflect earlier periods. The dataset contains 20 extreme outliers at the 3-standard-deviation threshold, reflecting the highly skewed distribution of absolute savings across countries of vastly different economic sizes. The value range spans from negative $2,550,032,665 (Lebanon) to $8,028,503,446,056 (China), a spread of over 314,939%.

Sources

• World Bank