Gross Savings (As % of GDP) rose to 23.5% in European Union in 2019

Gross Savings (As % of GDP) (%)
Economy | European Union | January 1, 2020
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Gross savings as a share of GDP reached 23.5 % in 2019 in European Union, according to the National Statistical Office. This is 0.885 % more than in the previous year.

Historically, gross savings as a share of GDP in European Union reached an all time high of 23.5 % in 2019 and an all time low of 0.196 % in 2009. When compared to European Union's main peers, gross savings as a share of GDP in China amounted to 44.4 %, 28.4 % in Japan, 27.8 % in Russia and 18.7 % in USA in 2019.

European Union has been ranked 62nd within the group of 163 countries we follow in terms of gross savings as a share of GDP, 31 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
Canada % 0.200% 20.8% 21.5% 21.9% 22.1%
China % 0.470% 44.9% 44.4% 43.9% 43.1%
European Union % 0.230% 23.3% 23.5% 23.6% 23.7%
Germany % 0.281% 28.5% 28.7% 28.8% 28.9%
India % 0.293% 28.5% 29.1% 29.4% 29.6%
Japan % 0.280% 28.1% 28.4% 28.8% 28.9%
Mexico % 0.229% 21.2% 20.8% 20.7% 20.7%
Russia % 0.261% 27.3% 27.8% 27.3% 27.1%
South Korea % 0.361% 36.2% 35.8% 35.2% 34.8%
USA % 0.190% 18.8% 18.7% 19.0% 18.9%