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Global household saving rates vary, with Sweden leading
Different countries save different amounts of money.
Sweden has the highest saving rate in the comparison, at 16%.
Hungary and Czechia are next.
People in countries such as the United States, Canada and the UK save a smaller share of their income.
In New Zealand and South Africa, households spend more than their net income on average under this measure.
This can happen when people use old savings or borrow money.
The data comes from different years, so the countries are not being measured at exactly the same time.
In India, household savings have decreased while household debt has increased.
Deloitte says this trend should be watched closely.
Sweden has the highest listed net household saving rate at 16%, followed by Hungary at 14.3% and Czechia at 13.7%.
France, Austria and Germany also report relatively high saving rates, ranging from 11.2% to 12.8%.
The United States saves 4.9% of household net disposable income, compared with 5% in Canada and 4.7% in the UK.
New Zealand records the lowest rate at -1.3%, while South Africa stands at -1%; Latvia records 0%.
India's gross household financial savings fell from 11.3% of GDP in FY19 to 10.8% in FY25, while financial liabilities increased from 4.1% to 4.7%.
- Who
- Households in 29 countries, along with Indian households discussed separately.
- What
- The comparison measures net household saving rates; it also reports declining Indian financial savings and rising liabilities.
- Where
- Across countries including Sweden, Hungary, Czechia, the United States, New Zealand, South Africa and India.
- When
- Most figures are from 2024; Canada uses 2025 data, several countries use 2023 data, and Norway uses 2022 data. India's figures compare FY19 with FY25.
- Why
- Saving patterns differ because of income, consumption, pensions, inflation and wider economic conditions.
Higher savings as financial protection
Lower savings as a sign of economic pressure
How to interpret saving differences
Higher savings as financial protection
Higher private saving may reflect households preparing for reduced public pensions and responding to inflation and economic uncertainty.
Lower savings as a sign of economic pressure
Low or negative saving rates may indicate that households are spending more than their income, drawing down savings or relying on borrowing.
India's changing household finances
Higher savings as financial protection
Changing consumption and investment patterns are reducing banks' reliance on traditional household deposits.
Lower savings as a sign of economic pressure
Deloitte India warns that falling savings and rising household debt could raise concerns about the sustainability of credit-led growth.
Key facts
- Highest rate
- Sweden: 16.0%
- Second and third
- Hungary: 14.3%; Czechia: 13.7%
- United States
- Net household saving rate: 4.9%
- Lowest rate
- New Zealand: -1.3%
- Other negative rate
- South Africa: -1.0%
- Data source
- Organisation for Economic Co-operation and Development data
- India's savings trend
- Gross household financial savings declined from 11.3% of GDP in FY19 to 10.8% in FY25.
- India's liabilities trend
- Household financial liabilities rose from 4.1% of GDP in FY19 to 4.7% in FY25, after reaching 6.2% in FY24.
Sources
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