Gross domestic savings (% of GDP) in Cuba
Cuba: Gross domestic savings (% of GDP) was -15.7% in 2024. ▼ Falling
Gross domestic savings in Cuba, 1970–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
Cuba recorded -15.7% for gross domestic savings in 2024. That is the lowest value across all 55 years on record.
That represents a change of down 99.8% on the previous year and down 225.6% over ten years.
Over the whole period, gross domestic savings in Cuba peaked at 17.3% in 1985 and was at its lowest, -15.7%, in 2024.
Cuba ranks 177th of 188 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 55 years of available data.
Gross domestic savings (% of GDP) in Cuba, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 13.7% | — |
| 1971 | 13.7% | +0.1% |
| 1972 | 13.7% | -0.0% |
| 1973 | 13.7% | -0.1% |
| 1974 | 13.7% | -0.2% |
| 1975 | 13.8% | +0.6% |
| 1976 | 13.8% | +0.1% |
| 1977 | 13.7% | -0.5% |
| 1978 | 13.6% | -0.6% |
| 1979 | 13.5% | -0.8% |
| 1980 | 14.2% | +4.6% |
| 1981 | 13.9% | -2.2% |
| 1982 | 13.4% | -3.4% |
| 1983 | 13.3% | -1.0% |
| 1984 | 13.0% | -1.8% |
| 1985 | 17.3% | +32.8% |
| 1986 | 12.3% | -28.8% |
| 1987 | 11.1% | -10.2% |
| 1988 | 12.6% | +13.9% |
| 1989 | 11.9% | -5.8% |
| 1990 | 15.1% | +27.2% |
| 1991 | 7.3% | -51.7% |
| 1992 | 4.1% | -43.1% |
| 1993 | 2.7% | -35.5% |
| 1994 | 4.8% | +78.4% |
| 1995 | 5.1% | +6.7% |
| 1996 | 13.9% | +172.7% |
| 1997 | 12.0% | -13.3% |
| 1998 | 9.2% | -23.6% |
| 1999 | 9.1% | -1.5% |
| 2000 | 9.7% | +6.9% |
| 2001 | 8.6% | -11.5% |
| 2002 | 7.5% | -12.3% |
| 2003 | 7.8% | +4.0% |
| 2004 | 9.5% | +21.9% |
| 2005 | 13.4% | +41.1% |
| 2006 | 12.0% | -11.0% |
| 2007 | 12.9% | +7.7% |
| 2008 | 11.1% | -14.2% |
| 2009 | 12.9% | +17.0% |
| 2010 | 14.9% | +15.3% |
| 2011 | 11.7% | -21.5% |
| 2012 | 13.7% | +17.2% |
| 2013 | 13.3% | -3.4% |
| 2014 | 12.5% | -5.8% |
| 2015 | 12.1% | -3.5% |
| 2016 | 12.3% | +1.5% |
| 2017 | 13.2% | +7.5% |
| 2018 | 14.0% | +6.2% |
| 2019 | 13.1% | -6.4% |
| 2020 | 10.5% | -19.6% |
| 2021 | 13.6% | +28.9% |
| 2022 | 5.4% | -60.1% |
| 2023 | -7.9% | -245.2% |
| 2024 | -15.7% | +99.8% |
Cuba compared with similar countries
- Cuba's -15.7% is below the median for upper middle income countries, which is 18.9%. (52 countries reporting)
- Cuba's -15.7% is below the median for Latin America & Caribbean, which is 16.3%. (28 countries reporting)
Biggest year-on-year movements
Years where Gross domestic savings (% of GDP) in Cuba changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2023 | -245.2% | 5.4% | -7.9% |
| 1996 | +172.7% | 5.1% | 13.9% |
| 2024 | -99.8% | -7.9% | -15.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 13.7% | 13.5% | 13.8% | 10 |
| 1980s | 13.3% | 11.1% | 17.3% | 10 |
| 1990s | 8.3% | 2.7% | 15.1% | 10 |
| 2000s | 10.5% | 7.5% | 13.4% | 10 |
| 2010s | 13.1% | 11.7% | 14.9% | 10 |
| 2020s | 1.2% | -15.7% | 13.6% | 5 |
Countries ranked near Cuba
More economy & growth data for Cuba
- SDRs holdings, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- SDRs holdings, US dollar, per capita 0 units per person (2016)
- SDRs holdings, SDR, per unit of GDP 0 units per US$ of GDP (2016)
- SDRs holdings, SDR, per capita 0 units per person (2016)
- IMF holdings of currency, US dollar, annual growth rate -100 % change on previous year (1969)
- IMF holdings of currency, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- IMF holdings of currency, US dollar, per capita 0 units per person (2016)
- IMF holdings of currency, SDR, annual growth rate -100 % change on previous year (1969)
- IMF holdings of currency, SDR, per unit of GDP 0 units per US$ of GDP (2016)
- IMF holdings of currency, SDR, per capita 0 units per person (2016)
Frequently asked questions
- What is gross domestic savings in Cuba?
- Gross domestic savings in Cuba was -15.7% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest gross domestic savings recorded in Cuba?
- The highest recorded value was 17.3% in 1985.
- What is the lowest gross domestic savings recorded in Cuba?
- The lowest recorded value was -15.7% in 2024.
- How does Cuba rank for gross domestic savings?
- Cuba ranks 177th out of 188 countries with data for 2024.
- Is gross domestic savings rising or falling in Cuba?
- Over the last ten years it is down 225.6%. The long-run trend across the full record is falling.
- Where does this Cuba data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of Gross domestic savings (% of GDP). Statizoid updates them automatically from the source API.
Download this data
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About this data
Gross domestic savings are calculated as GDP less final consumption expenditure (total consumption). This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.