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DATA IDENTIFICATION


Name
Gross national savings
Indicator purpose

Gross National Savings (National Income (Y) less Consumption Expenditure Less Government Expenditure (G)).

Abstract

This indicator consists of personal savings, business saving and government saving but it excludes foreign saving. It reflects the residual income used to acquire financial and non-financial assets. It is important to note that disposable income does not include any capital gains/losses and neither does saving. An adjustment for pension funds must be made to gross national income before subtracting final consumption expenditure.

Data source

Statistical Institute of Belize (SIB) 

Central Bank of Belize (CBB)

Organisation for Economic Co-operation and Development (OECD)

DATA CHARACTERISTICS



Contact organization person

Statistical Institute of Belize (SIB) 

Date last updated
28-OCT-2019
Periodicity

Annual

Unit of measure

Percentage (%) of GDP

Other characteristics

N/A

DATA CONCEPTS and CLASSIFICATIONS



Classification used

Gross national savings is an economic indicator and is used to measure and evaluate the wealth of a country.

GNS gives a measure of national wealth. The final figure is represented as a percentage of GDP. If it is negative, it means that the economy in its entirety is spending more than it is producing. Therefore, national wealth is reduced.

Disaggregation

1 year

Key statistical concepts

Calculation can be done in the following way: S=Y-C-G

where Y - National Income (GDP)

C- Consumption

G- Government Spending

S- National Savings

Formula
-
OTHER ASPECTS



Recommended uses

GNS evaluates a country’s wealth. Therefore, it is important because savings contribute to economic development. Governments can formulate policies to boost national savings and in effect, improve national economic development.

Limitations

Gross national savings does not account for social and environmental conditions. It does not provide a distribution of income levels among the population in order to make comparisons.

Other comments

A National Savings of zero means that consumption and government spending were equivalent to national income.