How much do people save around the world? Sweden leads, New Zealand and South Africa fall below zero

Household saving rates vary sharply across countries, with Sweden recording the highest net household saving rate at 16% and New Zealand reporting a negative rate of 1.3%, according to data compiled by the OECD and visualised by Visual Capitalist.

The data compares net household saving rates across 29 countries, showing how much households save after accounting for their disposable income and consumption. The figures highlight significant differences in saving behaviour across advanced and emerging economies.

Sweden tops the global savings chart

Sweden has the highest net household saving rate among the countries featured, at 16%. Hungary follows at 14.3%, while Czechia ranks third at 13.7%.

France has a household saving rate of 12.8%, followed by Austria at 11.7% and Germany at 11.2%. The Netherlands, Spain and Ireland also record relatively high saving rates, at 9.5%, 9.2% and 9%, respectively.

Denmark comes next at 8.5%, while Mexico records 8.1%. Belgium and Poland have saving rates of 6.6% and 6.1%, respectively. Australia also stands at 6.1%.

US, UK and Canada save less

Among several major developed economies, household saving rates are considerably lower.

Canada records a net household saving rate of 5%, while the United States stands at 4.9%. The UK is slightly lower at 4.7%.

South Korea has a saving rate of 4.8%, while Portugal and Finland report 4.5% and 4.3%, respectively. Italy and Norway both record rates of 4.2%.

Lithuania stands at 3.8%, followed by Estonia at 3%.

At the bottom of the list, Japan records a household saving rate of just 0.9%. Latvia is at 0%, indicating no net household saving under the measure used.

Some countries have negative saving rates

The data also shows three countries where household saving rates fall below zero.

South Africa records a net household saving rate of -1%, while New Zealand has the lowest rate in the comparison at -1.3%.

A negative household saving rate means households, in aggregate, are spending more than their net disposable income during the period measured. This can occur when households draw down existing savings or rely on borrowing to finance consumption.

The data note that cuts to public pensions are encouraging some Europeans to save more privately, alongside the impact of post-2022 inflation and continued economic volatility.

The comparison also comes with differences in data years: the graphic notes that figures for Canada are from 2025, while Japan, New Zealand, South Korea, Switzerland and the US use 2023 data. Norway's figure is from 2022, while the remaining countries use 2024 data.

Net Household Saving Rates Around the World

Rank	Country	Net household saving rate
1	Sweden	16.0%
2	Hungary	14.3%
3	Czechia	13.7%
4	France	12.8%
5	Austria	11.7%
6	Germany	11.2%
7	Netherlands	9.5%
8	Spain	9.2%
9	Ireland	9.0%
10	Denmark	8.5%
11	Mexico	8.1%
12	Belgium	6.6%
13	Poland	6.1%
14	Australia	6.1%
15	Luxembourg	5.0%
16	Canada	5.0%
17	United States	4.9%
18	South Korea	4.8%
19	UK	4.7%
20	Portugal	4.5%
21	Finland	4.3%
22	Italy	4.2%
23	Norway	4.2%
24	Lithuania	3.8%
25	Estonia	3.0%
26	Japan	0.9%
27	Latvia	0.0%
28	South Africa	-1.0%
29	New Zealand	-1.3%

Source: OECD data

Overall, the figures show that household saving behaviour differs substantially across economies, reflecting differences in income, consumption, pensions, inflation and economic conditions.

What about India?

India’s household savings are declining while household debt is rising, raising concerns about the sustainability of the country’s credit-led growth model, according to Deloitte India’s State of Financial Services in India 2026 report.

Gross household financial savings fell from 11.3% of GDP in FY19 to 10.8% in FY25. Meanwhile, household financial liabilities rose from 4.1% to 4.7% of GDP, after reaching 6.2% in FY24.

Deloitte said the duration of the savings decline remains uncertain but stressed that policymakers, regulators and financial institutions must closely monitor the trend. Household deposits have traditionally funded bank lending, but changing consumption and investment patterns are reducing banks’ reliance on them.