The gross savings of Iceland in 2024 amounted to 8 044 million USD, which is 2.93% less than in 2023, when it was 8 286 million USD. This is the first year of decline after a period of growth. Over the entire period of data from World Bank and OECD since 1976, this indicator has increased in 16.93 times. The lowest gross savings recorded in 1976, when it was 475 million USD. The maximum savings value of Iceland was in 2023, when it reached 8 286 million USD. Gross national savings is the total amount of income that a country’s residents save, rather than spend, during the year.
Additional infomation: About indicator
Gross savings are calculated as gross national income less total consumption, plus net transfers. Data are in current U.S. dollars.
