Gross savings in North America
North America: Gross savings was 17.0% in 2024. ▼ Falling
Gross savings in North America, 1970–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
In 2024, gross savings in North America stood at 17.0%.
The figure is down 3.1% on the previous year and down 14.4% over ten years.
Over the whole period, gross savings in North America peaked at 23.8% in 1973 and was at its lowest, 14.3%, in 2009.
North America ranks 37th of 42 groups on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 55 years of available data.
Gross savings in North America, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 21.5% | — |
| 1971 | 21.5% | -0.3% |
| 1972 | 22.0% | +2.7% |
| 1973 | 23.8% | +7.8% |
| 1974 | 22.8% | -3.9% |
| 1975 | 20.9% | -8.2% |
| 1976 | 21.5% | +2.7% |
| 1977 | 22.1% | +2.7% |
| 1978 | 23.2% | +4.9% |
| 1979 | 23.4% | +1.0% |
| 1980 | 22.2% | -5.1% |
| 1981 | 23.3% | +4.9% |
| 1982 | 21.6% | -7.1% |
| 1983 | 19.8% | -8.4% |
| 1984 | 21.8% | +10.1% |
| 1985 | 20.4% | -6.6% |
| 1986 | 19.0% | -7.0% |
| 1987 | 19.7% | +3.7% |
| 1988 | 20.7% | +5.1% |
| 1989 | 19.8% | -4.3% |
| 1990 | 18.7% | -5.6% |
| 1991 | 18.5% | -0.9% |
| 1992 | 17.4% | -6.1% |
| 1993 | 16.9% | -2.9% |
| 1994 | 17.8% | +5.5% |
| 1995 | 18.8% | +5.6% |
| 1996 | 19.6% | +4.6% |
| 1997 | 20.8% | +5.9% |
| 1998 | 21.3% | +2.2% |
| 1999 | 20.9% | -1.5% |
| 2000 | 21.1% | +0.6% |
| 2001 | 19.9% | -5.5% |
| 2002 | 18.7% | -6.3% |
| 2003 | 17.8% | -4.6% |
| 2004 | 18.2% | +2.4% |
| 2005 | 18.7% | +2.3% |
| 2006 | 19.7% | +5.4% |
| 2007 | 18.0% | -8.3% |
| 2008 | 15.8% | -12.1% |
| 2009 | 14.3% | -9.8% |
| 2010 | 15.7% | +10.1% |
| 2011 | 16.7% | +6.4% |
| 2012 | 18.6% | +11.2% |
| 2013 | 18.8% | +1.2% |
| 2014 | 19.9% | +5.6% |
| 2015 | 19.7% | -0.9% |
| 2016 | 18.6% | -5.5% |
| 2017 | 19.1% | +2.4% |
| 2018 | 19.3% | +1.1% |
| 2019 | 19.5% | +1.2% |
| 2020 | 18.5% | -5.2% |
| 2021 | 18.2% | -1.5% |
| 2022 | 18.8% | +3.1% |
| 2023 | 17.6% | -6.5% |
| 2024 | 17.0% | -3.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 22.3% | 20.9% | 23.8% | 10 |
| 1980s | 20.8% | 19.0% | 23.3% | 10 |
| 1990s | 19.1% | 16.9% | 21.3% | 10 |
| 2000s | 18.2% | 14.3% | 21.1% | 10 |
| 2010s | 18.6% | 15.7% | 19.9% | 10 |
| 2020s | 18.0% | 17.0% | 18.8% | 5 |
Countries ranked near North America
More economy & growth data for North America
- Imports of goods and services 15.4% (2024)
- Gross capital formation 5.52 trillion constant 2015 US$ (2024)
- Gross capital formation 3.2% (2024)
- Gross capital formation 21.6% (2024)
- Imports of goods and services 4.86 trillion current US$ (2024)
- Imports of goods and services 4.34 trillion constant 2015 US$ (2024)
- Imports of goods and services 5.0% (2024)
- Industry (including construction), value added 4.69 trillion current US$ (2021)
- Services, value added 19.44 trillion current US$ (2021)
- Industry (including construction), value added 18.2% (2021)
Frequently asked questions
- What is gross savings in North America?
- Gross savings in North America was 17.0% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross savings recorded in North America?
- The highest recorded value was 23.8% in 1973.
- What is the lowest gross savings recorded in North America?
- The lowest recorded value was 14.3% in 2009.
- How does North America rank for gross savings?
- North America ranks 37th out of 42 groups with data for 2024.
- Is gross savings rising or falling in North America?
- Over the last ten years it is down 14.4%. The long-run trend across the full record is falling.
- Where does this North America data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross savings (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Savings is an amount that represents the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. 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.