Gross savings in Small states
Small states: Gross savings was 21.7% in 2024. ▼ Falling
Gross savings in Small states, 2001–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GNI.
Analysis
Small states recorded 21.7% for gross savings in 2024.
Compared with earlier readings it is down 2.0% on the previous year and down 14.0% over ten years.
Over the whole period, gross savings in Small states peaked at 26.8% in 2011 and was at its lowest, 20.5%, in 2020.
That places Small states 28th out of 44 groups with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 24 years of available data.
Gross savings in Small states, year by year
| Year | % of GNI | Change |
|---|---|---|
| 2001 | 25.0% | — |
| 2002 | 26.6% | +6.4% |
| 2003 | 25.3% | -4.9% |
| 2004 | 24.7% | -2.4% |
| 2005 | 25.0% | +1.1% |
| 2006 | 26.7% | +6.7% |
| 2007 | 25.5% | -4.4% |
| 2008 | 25.3% | -0.8% |
| 2009 | 23.6% | -6.9% |
| 2010 | 24.6% | +4.5% |
| 2011 | 26.8% | +8.9% |
| 2012 | 26.8% | -0.1% |
| 2013 | 26.4% | -1.3% |
| 2014 | 25.2% | -4.7% |
| 2015 | 25.1% | -0.4% |
| 2016 | 24.3% | -3.2% |
| 2017 | 25.2% | +3.8% |
| 2018 | 24.6% | -2.2% |
| 2019 | 24.7% | +0.4% |
| 2020 | 20.5% | -17.0% |
| 2021 | 22.8% | +10.9% |
| 2022 | 23.3% | +2.3% |
| 2023 | 22.1% | -5.2% |
| 2024 | 21.7% | -2.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 25.3% | 23.6% | 26.7% | 9 |
| 2010s | 25.4% | 24.3% | 26.8% | 10 |
| 2020s | 22.1% | 20.5% | 23.3% | 5 |
Countries ranked near Small states
- 25 India 35.1% compare
- 26 Republic of Korea 35.0% compare
- 27 Panama 34.9% compare
- 28 Mauritania 34.8% compare
- 29 Denmark 34.3% compare
- 30 Papua New Guinea 33.6%
- 31 Bangladesh 33.0% compare
More economy & growth data for Small states
- GDP growth 4.4% (2025)
- Services, value added 163.36 billion constant 2015 US$ (2025)
- Services, value added 3.0% (2025)
- Trade in services 69.2% (2024)
- Inflation, GDP deflator 2.7% (2025)
- Gross value added at basic prices (GVA) 307.40 billion current US$ (2025)
- Gross value added at basic prices (GVA) 247.79 billion constant 2015 US$ (2025)
- GDP 337.31 billion current US$ (2025)
- GDP 269.71 billion constant 2015 US$ (2025)
- GNI, Atlas method 315.41 billion current US$ (2025)
Frequently asked questions
- What is gross savings in Small states?
- Gross savings in Small states was 21.7% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross savings recorded in Small states?
- The highest recorded value was 26.8% in 2011.
- What is the lowest gross savings recorded in Small states?
- The lowest recorded value was 20.5% in 2020.
- How does Small states rank for gross savings?
- Small states ranks 28th out of 44 groups with data for 2024.
- Is gross savings rising or falling in Small states?
- Over the last ten years it is down 14.0%. The long-run trend across the full record is falling.
- Where does this Small states data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross savings (% of GNI). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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 National Income (GNI) which is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad.