Gross savings in Sub-Saharan Africa (excluding high income)
Sub-Saharan Africa (excluding high income): Gross savings was 18.2% in 2024. ▲ Rising
Gross savings in Sub-Saharan Africa (excluding high income), 1980–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GNI.
Analysis
In 2024, gross savings in Sub-Saharan Africa (excluding high income) stood at 18.2%.
That represents a change of down 2.6% on the previous year and down 2.5% over ten years.
Over the whole period, gross savings in Sub-Saharan Africa (excluding high income) peaked at 24.3% in 1980 and was at its lowest, 14.2%, in 1991.
That places Sub-Saharan Africa (excluding high income) 37th out of 46 groups with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 40 years of available data.
Gross savings in Sub-Saharan Africa (excluding high income), year by year
| Year | % of GNI | Change |
|---|---|---|
| 1980 | 24.3% | — |
| 1981 | 21.9% | -10.0% |
| 1982 | 19.3% | -11.5% |
| 1983 | 19.2% | -0.8% |
| 1984 | 18.6% | -3.1% |
| 1986 | 17.8% | -4.4% |
| 1987 | 16.6% | -6.8% |
| 1988 | 16.8% | +1.6% |
| 1989 | 17.1% | +1.5% |
| 1990 | 14.9% | -12.7% |
| 1991 | 14.2% | -5.2% |
| 1992 | 16.0% | +13.2% |
| 1993 | 17.2% | +7.0% |
| 1994 | 17.8% | +3.8% |
| 1995 | 18.2% | +2.2% |
| 1996 | 17.8% | -2.2% |
| 1997 | 17.7% | -0.6% |
| 1998 | 16.5% | -6.5% |
| 1999 | 16.2% | -2.3% |
| 2000 | 17.5% | +8.4% |
| 2001 | 17.8% | +1.4% |
| 2002 | 20.2% | +13.7% |
| 2003 | 20.7% | +2.5% |
| 2004 | 21.0% | +1.3% |
| 2005 | 20.5% | -2.2% |
| 2006 | 21.2% | +3.2% |
| 2007 | 21.3% | +0.4% |
| 2009 | 18.3% | -14.1% |
| 2010 | 19.9% | +9.2% |
| 2011 | 20.3% | +2.0% |
| 2012 | 19.1% | -6.2% |
| 2013 | 18.7% | -2.2% |
| 2015 | 17.9% | -4.1% |
| 2016 | 19.0% | +6.0% |
| 2017 | 18.8% | -1.1% |
| 2018 | 19.4% | +3.6% |
| 2021 | 20.1% | +3.3% |
| 2022 | 19.4% | -3.1% |
| 2023 | 18.7% | -3.9% |
| 2024 | 18.2% | -2.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 19.1% | 16.6% | 24.3% | 9 |
| 1990s | 16.7% | 14.2% | 18.2% | 10 |
| 2000s | 19.8% | 17.5% | 21.3% | 9 |
| 2010s | 19.1% | 17.9% | 20.3% | 8 |
| 2020s | 19.1% | 18.2% | 20.1% | 4 |
Countries ranked near Sub-Saharan Africa (excluding high income)
More economy & growth data for Sub-Saharan Africa (excluding high income)
- Households and NPISHs Final consumption expenditure (constant 2015) 4.36 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 0.147 constant 2015 US$ per US$ of GDP (2025)
- General government final consumption expenditure (constant 2015 US$) 245.62 constant 2015 US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 7.79 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current US$) 0.8257 current US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (current US$) 1,380 current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 1,188 constant 2015 US$ per person (2025)
- Final consumption expenditure (current US$), per unit of GDP 0.9901 current US$ per US$ of GDP (2025)
- Final consumption expenditure (current US$), annual growth rate 8.1 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 3.8 % change on previous year (2025)
Frequently asked questions
- What is gross savings in Sub-Saharan Africa (excluding high income)?
- Gross savings in Sub-Saharan Africa (excluding high income) was 18.2% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross savings recorded in Sub-Saharan Africa (excluding high income)?
- The highest recorded value was 24.3% in 1980.
- What is the lowest gross savings recorded in Sub-Saharan Africa (excluding high income)?
- The lowest recorded value was 14.2% in 1991.
- How does Sub-Saharan Africa (excluding high income) rank for gross savings?
- Sub-Saharan Africa (excluding high income) ranks 37th out of 46 groups with data for 2024.
- Is gross savings rising or falling in Sub-Saharan Africa (excluding high income)?
- Over the last ten years it is down 2.5%. The long-run trend across the full record is rising.
- Where does this Sub-Saharan Africa (excluding high income) 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.
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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 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.