The table illustrates the proportion of personal income saved by individuals in various countries during the years 1970, 1990, and 2010.
At a glance, it can be seen that all countries experienced fluctuations in their saving rates over the 40-year period, with the most significant changes occurring in China and the USA. It is also noticeable that China had the highest saving rates in all three years, while the UK consistently had the lowest.
In 1970, China had a saving rate of 15%, which rose dramatically to 40% in 1990 before slightly decreasing to 38% in 2010. The USA, on the other hand, saw a steady decline in their saving rate from 12% in 1970 to a mere 2% in 2010. Germany and Japan experienced more modest fluctuations, with Germany's rate dropping from 13% to 10% and Japan's rate increasing from 15% to 20% over the same period.
The UK, meanwhile, maintained the lowest saving rates throughout the 40 years. Starting at 10% in 1970, the rate dropped to 5% in 1990 and remained the same in 2010. In contrast, Australia's saving rate remained relatively stable, fluctuating between 10% and 12% over the course of the 40 years.
