Gross savings in Sub-Saharan Africa (IDA & IBRD countries)
Sub-Saharan Africa (IDA & IBRD countries): Gross savings was 18.2% in 2024. ▲ Rising
Gross savings in Sub-Saharan Africa (IDA & IBRD countries), 1980–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GNI.
Analysis
Sub-Saharan Africa (IDA & IBRD countries) recorded 18.2% for gross savings in 2024.
The figure is down 2.6% on the previous year and down 7.5% over ten years.
Over the whole period, gross savings in Sub-Saharan Africa (IDA & IBRD countries) peaked at 24.3% in 1980 and was at its lowest, 14.2%, in 1991.
That places Sub-Saharan Africa (IDA & IBRD countries) 38th out of 46 groups with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 41 years of available data.
Gross savings in Sub-Saharan Africa (IDA & IBRD countries), 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% | -3.0% |
| 1986 | 17.8% | -4.3% |
| 1987 | 16.6% | -6.7% |
| 1988 | 16.9% | +1.6% |
| 1989 | 17.1% | +1.5% |
| 1990 | 15.0% | -12.7% |
| 1991 | 14.2% | -5.2% |
| 1992 | 16.0% | +13.1% |
| 1993 | 17.2% | +7.0% |
| 1994 | 17.8% | +3.9% |
| 1995 | 18.2% | +2.2% |
| 1996 | 17.8% | -2.1% |
| 1997 | 17.7% | -0.7% |
| 1998 | 16.6% | -6.5% |
| 1999 | 16.2% | -2.2% |
| 2000 | 17.5% | +8.3% |
| 2001 | 17.8% | +1.3% |
| 2002 | 20.2% | +13.7% |
| 2003 | 20.7% | +2.5% |
| 2004 | 21.0% | +1.4% |
| 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% | -6.1% |
| 2013 | 18.7% | -2.2% |
| 2014 | 19.6% | +5.2% |
| 2015 | 17.9% | -9.0% |
| 2016 | 18.9% | +5.9% |
| 2017 | 18.7% | -1.1% |
| 2018 | 19.4% | +3.6% |
| 2021 | 20.0% | +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 | 19.2% | 17.9% | 20.3% | 9 |
| 2020s | 19.1% | 18.2% | 20.0% | 4 |
Countries ranked near Sub-Saharan Africa (IDA & IBRD countries)
More economy & growth data for Sub-Saharan Africa (IDA & IBRD countries)
- Foreign direct investment, net inflows (BoP, current US$), per capita 5.26 BoP, current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 7.79 % change on previous year (2025)
- General government final consumption expenditure (constant 2015 US$) 246.12 constant 2015 US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 3.82 % change on previous year (2025)
- General government final consumption expenditure (current US$), per 283.73 current US$ per person (2025)
- General government final consumption expenditure (current US$), per 0.1696 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$) 9.56 % change on previous year (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0012 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -1.99 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 6.95 billion BoP, current US$ (2025)
Frequently asked questions
- What is gross savings in Sub-Saharan Africa (IDA & IBRD countries)?
- Gross savings in Sub-Saharan Africa (IDA & IBRD countries) 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 (IDA & IBRD countries)?
- The highest recorded value was 24.3% in 1980.
- What is the lowest gross savings recorded in Sub-Saharan Africa (IDA & IBRD countries)?
- The lowest recorded value was 14.2% in 1991.
- How does Sub-Saharan Africa (IDA & IBRD countries) rank for gross savings?
- Sub-Saharan Africa (IDA & IBRD countries) ranks 38th out of 46 groups with data for 2024.
- Is gross savings rising or falling in Sub-Saharan Africa (IDA & IBRD countries)?
- Over the last ten years it is down 7.5%. The long-run trend across the full record is rising.
- Where does this Sub-Saharan Africa (IDA & IBRD countries) 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.