Excess savings due to COVID-19 in selected countries 2020

Published by
Fernando de Querol Cumbrera,
Feb 8, 2023
During the initial outbreak of the coronavirus (COVID-19) and throughout 2020, many people around the world accumulated a considerable amount of savings. Recent estimates calculated the so-called excess savings to be as high as 1.5 trillion U.S. dollars at the end of 2020. European countries also registered an increase in savings, even though to a much smaller degree. For instance, excess savings in Germany were estimated at 169 billion U.S. dollars.

Excess savings due to the coronavirus (COVID-19) pandemic in selected countries worldwide in 2020 (in billion U.S. dollars)

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Release date

March 2021

Region

Worldwide, China, France, Germany, Italy, Japan, Spain, United Kingdom, United States

Survey time period

2020

Supplementary notes

Figures were calculated based on the exchange rate on March 22, 2021:
Chinese Yuan to U.S. Dollar 1=0.15
Japanese Yen to U.S. Dollar 1=0.01
Euro to U.S. Dollar 1=1.19
British Pound to U.S. Dollar 1=1.39

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