During the initial outbreak of the coronavirus (COVID-19) and throughout 2020, many people around the world accumulated a considerable amount of savings. Recent estimates calculated the so-called excess savings to be as high as 1.5 trillion U.S. dollars at the end of 2020. European countries also registered an increase in savings, even though to a much smaller degree. For instance, excess savings in Germany were estimated at 169 billion U.S. dollars.
Excess savings due to the coronavirus (COVID-19) pandemic in selected countries worldwide in 2020
(in billion U.S. dollars)
Worldwide, China, France, Germany, Italy, Japan, Spain, United Kingdom, United States
Survey time period
2020
Supplementary notes
Figures were calculated based on the exchange rate on March 22, 2021:
Chinese Yuan to U.S. Dollar 1=0.15
Japanese Yen to U.S. Dollar 1=0.01
Euro to U.S. Dollar 1=1.19
British Pound to U.S. Dollar 1=1.39
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Bloomberg. (March 3, 2021). Excess savings due to the coronavirus (COVID-19) pandemic in selected countries worldwide in 2020 (in billion U.S. dollars) [Graph]. In Statista. Retrieved September 20, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1222189/excess-savings-due-to-covid-19/
Bloomberg. "Excess savings due to the coronavirus (COVID-19) pandemic in selected countries worldwide in 2020 (in billion U.S. dollars)." Chart. March 3, 2021. Statista. Accessed September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1222189/excess-savings-due-to-covid-19/
Bloomberg. (2021). Excess savings due to the coronavirus (COVID-19) pandemic in selected countries worldwide in 2020 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: September 20, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1222189/excess-savings-due-to-covid-19/
Bloomberg. "Excess Savings Due to The Coronavirus (Covid-19) Pandemic in Selected Countries Worldwide in 2020 (in Billion U.S. Dollars)." Statista, Statista Inc., 3 Mar 2021, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1222189/excess-savings-due-to-covid-19/
Bloomberg, Excess savings due to the coronavirus (COVID-19) pandemic in selected countries worldwide in 2020 (in billion U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1222189/excess-savings-due-to-covid-19/ (last visited September 20, 2024)
Excess savings due to the coronavirus (COVID-19) pandemic in selected countries worldwide in 2020 (in billion U.S. dollars) [Graph], Bloomberg, March 3, 2021. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1222189/excess-savings-due-to-covid-19/