Gross savings in Sub-Saharan Africa
Sub-Saharan Africa: Gross savings was 18.2% in 2024. ▲ Rising
Gross savings in Sub-Saharan Africa, 1980–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GNI.
Analysis
The most recent figure for gross savings in Sub-Saharan Africa is 18.2%, measured 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 peaked at 24.3% in 1980 and was at its lowest, 14.2%, in 1991.
Sub-Saharan Africa ranks 38th of 46 groups on this measure, 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, 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
More economy & growth data for Sub-Saharan Africa
- Imports of goods and services (constant 2015 US$), annual growth rate 4.54 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 0.1718 constant 2015 US$ per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 4.68 % change on previous year (2025)
- Imports of goods and services (constant 2015 US$), per capita 420.94 constant 2015 US$ per person (2025)
- Imports of goods and services (constant 2015 US$), per unit of GDP 0.2516 constant 2015 US$ per US$ of GDP (2025)
- Imports of goods and services (current US$), per unit of GDP 0.2788 current US$ per US$ of GDP (2025)
- Gross capital formation (constant 2015 US$), per capita 407.9 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), annual growth rate 8.19 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 287.43 constant 2015 US$ per person (2025)
- Imports of goods and services (current US$), per capita 466.42 current US$ per person (2025)
Frequently asked questions
- What is gross savings in Sub-Saharan Africa?
- Gross savings in Sub-Saharan Africa 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?
- The highest recorded value was 24.3% in 1980.
- What is the lowest gross savings recorded in Sub-Saharan Africa?
- The lowest recorded value was 14.2% in 1991.
- How does Sub-Saharan Africa rank for gross savings?
- Sub-Saharan Africa ranks 38th out of 46 groups with data for 2024.
- Is gross savings rising or falling in Sub-Saharan Africa?
- 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 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 — 41 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.