Gross domestic savings in Cuba
Cuba: Gross domestic savings 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 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% |
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
- 174 Comoros -10.4% compare
- 175 Sao Tome and Principe -11.3% compare
- 176 Palau -12.9% compare
- 178 Syrian Arab Republic -17.0% compare
- 179 Tonga -19.7% compare
- 180 Marshall Islands -24.0% compare
More economy & growth data for Cuba
- Gross capital formation (current US$), annual growth rate -10.83 % change on previous year (2020)
- Gross capital formation (current US$), per unit of GDP 0.0987 current US$ per US$ of GDP (2020)
- Gross capital formation (current US$), per capita 948.52 current US$ per person (2020)
- Gross capital formation (current LCU), annual growth rate 47.89 % change on previous year (2024)
- Gross capital formation (current LCU), per unit of GDP 0.0987 current LCU per US$ of GDP (2020)
- Gross capital formation (current LCU), per capita 23,922 current LCU per person (2024)
- Gross capital formation (constant 2015 US$), annual growth rate 3.31 % change on previous year (2024)
- Gross capital formation (constant 2015 US$), per unit of GDP 0.0801 constant 2015 US$ per US$ of GDP (2020)
- Gross capital formation (constant 2015 US$), per capita 775.66 constant 2015 US$ per person (2024)
- Imports of goods and services (current US$), annual growth rate -26.47 % change on previous year (2020)
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.
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CSV · JSON — 55 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.