Gross Savings (As % of GDP) rose to 19.6% in Armenia in 2019

Gross Savings (As % of GDP) (%)
Economy | Armenia | January 1, 2020
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Gross savings as a share of GDP reached 19.6 % in 2019 in Armenia, according to the National Statistical Office. This is 4.30 % more than in the previous year.

Historically, gross savings as a share of GDP in Armenia reached an all time high of 19.6 % in 2019 and an all time low of -0.136 % in 1993. When compared to Armenia's main peers, gross savings as a share of GDP in Azerbaijan amounted to 31.1 %, 25.0 % in Georgia, 39.4 % in Iran and 24.7 % in Turkey in 2019.

Armenia has been ranked 95th within the group of 163 countries we follow in terms of gross savings as a share of GDP, 18 places above the position seen 10 years ago.

Gross savings are calculated as gross national income less total consumption, plus net transfers.

Gross Savings (As % of GDP) Unit 2015 2016 2017 2018 2019 2020 2021 2022 2023
Armenia % 0.182% 18.8% 19.6% 19.8% 20.1%
Azerbaijan % 0.283% 30.5% 31.1% 31.8% 32.4%
Bulgaria % 0.286% 23.9% 23.1% 22.4% 21.6%
Georgia % 0.235% 24.8% 25.0% 25.0% 25.6%
Greece % 0.114% 11.9% 13.5% 14.6% 15.2%
Iran % 37.9% 40.5% 39.4% 37.6% 37.5%
Iraq % 0.149% 26.0% 22.8% 19.3% 17.8%
Pakistan % 0.201% 10.5% 10.7% 9.93% 9.42%
Russia % 0.261% 27.3% 27.8% 27.3% 27.1%
Turkey % 0.255% 25.1% 24.7% 23.1% 22.1%
Turkmenistan % ... ... ... ... ... ... ... ... ...