5 Countries with the Lowest Saving Rates in Europe

In this article, we will look at the 5 countries with the lowest saving rates in Europe. If you want to read our detailed analysis, you can go directly to the 15 Countries with the Lowest Saving Rates in Europe.

5. Iceland

Gross savings (% of GDP) (2022): 15.70%

Real GDP Growth Rate (2024): 1.7%

Iceland ranks 5th on our list of countries with the lowest saving rates in Europe. According to a Bloomberg report on March 26, the country’s consumer price rose to 6.8% in March from 6.6% in February. The increased inflation rates are leading to lower savings. Thereby, the country’s gross savings have been low. Iceland had gross savings as a percentage of GDP of 15.70% in 2022.