In 2023, Qatar, Ireland, and Singapore lead the global gross domestic savings ranking. A notable increase was observed in Norway and Nigeria, with growth rates of 8.02% and 10.75% respectively. Conversely, China saw a significant decline of 24.82%. Countries like Gabon and Angola experienced savings growth of over 2%, while Seychelles and Mexico saw notable reductions by approximately 3%. Europe shows mixed results, with minimal deviations in nations like Poland and Germany. Savings rates remain stable in many African nations, while emerging economies like India and Brazil experience modest adjustments nearing +/-0.5%.
As we look to the future, watch for emerging economic shifts driven by investments in renewable energy and technology innovations, especially in Asia and the Middle East. Countries within the European Union might experience more harmonized saving rates due to policy alignment, while resource-dependent nations may continue to see savings influenced by global commodity price fluctuations. Meanwhile, ongoing geopolitical tensions and economic transformations will surely shape these savings trends globally.
Top countries in Gross Domestic Savings by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Qatar | 67.79 | 2023 | +0.13% | +2.23% | View data |
| 2 | 2 Ireland | 64.91 | 2023 | +1.26% | +2.53% | View data |
| 3 | 3 Singapore | 60.41 | 2023 | +0.47% | +1.7% | View data |
| 4 | 4 Gabon | 58.22 | 2023 | -3.52% | +2.76% | View data |
| 5 | 5 Brunei | 56.22 | 2023 | -0.7% | -0.034% | View data |
| 6 | 6 Zambia | 51.85 | 2023 | +3.56% | +4.15% | View data |
| 7 | 7 Luxembourg | 51.82 | 2023 | +0.053% | +0.87% | View data |
| 8 | 8 Norway | 50.24 | 2023 | +0.53% | +8.02% | View data |
| 9 | 9 Republic of the Congo | 49.31 | 2023 | +50.03% | View data | |
| 10 | 10 Azerbaijan | 47.22 | 2023 | +3.38% | View data |
