Gross National Saving 2017

In 2017, Suriname recorded the highest Gross National Saving at 57.1, while the range of national savings worldwide spanned from 0.10 in Yemen to this peak value. The global average Gross National Saving for the year was 20.96, providing a benchmark for understanding these extremes.

Economic Diversification and High Savings

Countries with diverse and robust economies often exhibit higher Gross National Saving rates. Suriname's leading position at 57.1 can be attributed to its rich natural resources, particularly in the extractive industries, which bolster its national income. Similarly, China at 45.9 and Singapore at 44.4 benefit from strong manufacturing and service sectors that contribute to substantial national savings. These countries have implemented policies that encourage both domestic and foreign investment, ensuring economic stability and allowing for high savings rates.

Resource Dependency and Savings Fluctuations

Resource-dependent economies often face significant volatility in their Gross National Saving. Equatorial Guinea, with a drastic decrease of -39.70 (-98.8%), highlights the risks associated with over-reliance on oil revenues, which can fluctuate widely and impact national savings dramatically. In contrast, Qatar manages to maintain a high saving rate of 44 due to prudent fiscal policies and diversification efforts, which mitigate the impacts of resource price volatility.

Socioeconomic Challenges and Low Savings

Countries grappling with socioeconomic challenges often show lower savings rates. Yemen, with the lowest rate at 0.10, is beset by ongoing conflict and economic instability, severely constraining its ability to save. Similarly, Maldives at 0.4 and Angola at 3.3 face challenges such as political instability and reliance on tourism or oil, respectively, which hinder consistent economic growth and savings.

Year-over-Year Dynamics: Movers and Shakers

Analyzing year-over-year changes reveals significant shifts in national savings. Suriname saw a remarkable increase of +32.90 (136.0%), likely due to economic reforms and increased foreign investment. In contrast, Equatorial Guinea experienced one of the steepest declines with -39.70 (-98.8%), underscoring the volatility of its oil-dependent economy. Other notable increases include Dominica with +18.70 (1100.0%), driven by recovery efforts post-natural disasters, and Zambia with +16.90 (82.8%), reflecting improvements in its mining sector.

In summary, the Gross National Saving data for 2017 illustrates the profound impact of economic structure, resource dependency, and geopolitical stability on a country's ability to save. While resource-rich nations can achieve high savings, diversification and sound economic policies are critical to sustaining these rates. Conversely, countries facing socio-economic challenges often struggle to maintain robust savings, impacting their long-term financial health.