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Savings rate of households in selected countries worldwide 2010-2019

In 2019, the household savings rates in these selected developed countries ranged from -0.4 percent of disposable income in Finland to 17.6 percent in Switzerland. Finland had the only negative savings rate, which means that people were using savings to supplement their income at that time.

Why do people save?

Savings behavior differs from country, as shown in this statistic. In the United States, most people save for unexpected expenses or retirement. In countries such as Finland, the savings rate may be lower because retirees can rely on generous pension funds. Other reasons that households save include vacation, educational expenses, and home purchase.

Factors that affect saving

High inflation leads to lower household savings. The projected increase in prices means that people would rather buy immediately, because saving and buying later means paying a higher price. As such, countries with an inflation rate are less likely to have a high savings rate. Other factors include a cultural disposition towards saving mechanisms, such as the emphasis on home ownership seen in the United States.

Savings rate of households in selected countries worldwide from 2010 to 2019

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Release date

August 2020



Survey time period

2010 to 2019

Supplementary notes

*Gross savings.
The source adds the following information: "There is no standard method of calculating savings rates in the EU. Most countries use the net method, whereby the rate is calculated by deducting depreciation of real capital (particularly property) from gross savings (income less consumption expenditure). France, the United Kingdom and Portugal do not use this method so the savings rate is automatically higher in these countries.

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Statistics on "Personal savings in the United States"

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