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Genuine savings rates for various counties
Data Excerpts from a World Bank Report
Rhett A. Butler, mongabay.com
September 18, 2005

In September 2005, the World Bank published a report, Where Is the Wealth of Nations?, that introduced a new measure of wealth that takes into account the depletion of natural resources and damage to the environment. These factors are neglected under current indicators used to guide development decisions, notably Gross Domestic Product (GDP).

Below you will find "Genuine Savings Estimates by Country" rankings. Adjusted net or genuine saving measures the true level of saving in a country after depreciation of produced capital, investments in human capital (as measured by education expenditures), depletion of minerals, energy, forests, and damages from local and global air pollutants are taken into account.

A related press release can be found here

All figures are from Where Is the Wealth of Nations?, a World Bank report. The figures are copyright the World Bank as is the explanatory text that follows. Further information, along with the full report in PDF form, is available at www.worldbank.org/sustainabledevelopment



World Bank 2005: Genuine Savings Estimates by Country,
Other related tables: Wealth by Country | Change in Wealth Per Capita

Gross nat. Saving Cons. of fixed capital Net nat. Saving Educ. Exp Energy depl. Mineral depl. Net forest depl. PM10 damage* CO2 damage Genuine saving
Afghanistan .. .. .. .. .. .. .. .. .. ..
Albania 19.4 9 10.4 2.8 1.4 0 0 0.1 0.4 11.4
Algeria 41.1 11.2 29.9 4.5 39.7 0.1 0.1 0.7 1 -7.3
American Samoa .. .. .. .. .. .. .. .. .. ..
Andorra .. .. .. .. .. .. .. .. .. ..
Angola 54.8 10.6 44.2 4.4 55.9 0 0 .. 0.5 ..
Antigua and Barbuda 19.4 12.6 6.8 3.7 0 0 0 .. 0.3 ..
Argentina 13.4 12.1 1.3 3.2 2.4 0.1 0 1.6 0.3 0.1
Armenia 4 8.1 -4.2 1.8 0 0.1 0 2 1.1 -5.4
Aruba .. .. .. .. .. .. .. .. .. ..
Australia 19.5 16.1 3.4 4.9 1.8 1.5 0 0.1 0.5 4.3
Austria 22 14.5 7.5 5.6 0.1 0 0 0.2 0.2 12.5
Azerbaijan 18.1 14.9 3.2 3 54.5 0 0 1 3.5 -52.7
Bahamas, The .. 13.2 .. 3.8 0 0 0 .. 0.2 ..
Bahrain 27.1 12.7 14.4 4.4 17.6 0 0 .. 1.5 ..
Bangladesh 25.8 5.9 19.9 1.3 1.3 0 0.8 0.3 0.4 18.5
Barbados 12.1 12.4 -0.4 7.2 0.6 0 0 .. 0.3 ..
Belarus 23.8 9.2 14.5 5.4 2.9 0 0 0 2.7 14.3
Belgium 24.3 14.4 9.9 3 0 0 0 0.2 0.3 12.5
Belize 9.2 6 3.2 6.2 0 0 0 .. 0.6 ..
Benin 10.4 7.7 2.7 2.7 0.2 0 1.4 0.3 0.4 3.1
Bermuda .. .. .. 3.3 .. .. .. .. .. ..
Bhutan 32.9 9.3 23.6 2.4 0 0 5.2 .. 0.5 ..
Bolivia 11.1 9.2 1.8 4.8 4.8 0.8 0 0.7 0.8 -0.6
Bosnia and Herzegovina 20.8 8.7 12 .. 0.2 0 0 0.4 2.4 ..
Botswana 41.9 12.1 29.8 5.6 0 0.5 0 .. 0.5 ..
Brazil 17.8 11 6.8 3.7 2 0.8 0 0.2 0.3 7.2
Brunei .. .. .. 2.9 .. .. .. .. .. ..
Bulgaria 13 9.8 3.2 3 0.3 0.6 0 2.1 2 1.1
Burkina Faso 11 7.1 4 2.4 0 0 0 0.5 0.2 5.6
Burundi 0.9 6.1 -5.2 4 0 0 8.7 0.1 0.2 -10.2
Cambodia 14.1 7.6 6.5 1.4 0 0 1.2 0.1 0.1 6.6
Cameroon 14.6 8.9 5.7 2.3 9.4 0 0 0.7 0.5 -2.5
Canada 24.6 13.1 11.5 6.9 4.9 0.2 0 0.2 0.4 12.7
Cape Verde 9.2 9.5 -0.3 3.9 0 0 0 .. 0.2 ..
Central African Republic 6.7 7.3 -0.6 1.6 0 0 0 0.4 0.2 0.5
Chad 0.7 6.8 -6.1 1.4 0 0 0 .. 0.1 ..
Channel Islands .. .. .. .. .. .. .. .. .. ..
Chile 21.3 10 11.3 3.5 0.3 6 0 1 0.5 7
China 38.8 8.9 29.8 2 3.6 0.3 0.1 1 1.6 25.5
Colombia 15.5 10.2 5.3 3.1 8.4 0.3 0 0.1 0.4 -0.9
Comoros -1.2 7.6 -8.9 4.2 0 0 0 .. 0.2 ..
Congo, Dem. Rep. of -4.6 6.9 -11.5 0.9 3.3 0.3 0 0 0.4 -14.6
Congo, Rep. 41 12.6 28.4 5.9 68.2 0.5 0 .. 0.5 ..
Costa Rica 13.6 6.2 7.4 5 0 0 0.4 0.3 0.2 11.5
Cote d'Ivoire 8.4 9.1 -0.7 4.5 4.1 0 0.6 0.6 0.6 -2.1
Croatia 18.1 11.1 7 .. 1.3 0 0 0.3 0.6 ..
Cuba .. .. .. 6.1 .. .. .. .. .. ..
Cyprus .. 10.6 .. 5.3 0 0 0 .. 0.4 ..
Czech Republic 24.5 11.5 13 3.9 0.1 0 0 0.1 1.3 15.4
Denmark 23.5 15.4 8.1 7.9 0.9 0 0 0.1 0.2 14.8
Djibouti -2.4 8.5 -10.9 .. 0 0 0 .. 0.4 ..
Dominica 5.7 12.2 -6.6 5 0 0 0 .. 0.3 ..
Dominican Republic 19.2 5.4 13.8 2 0 0.6 0 0.2 0.8 14.2
Ecuador 28.3 10.2 18.1 3.2 25.6 0 0 0.1 1 -5.5
Egypt 16.7 9.5 7.2 4.4 5.6 0.1 0.2 1.4 0.8 3.6
El Salvador 13.9 10.2 3.7 2.4 0 0 0.7 0.2 0.3 5
Equatorial Guinea .. 31.2 .. .. 0 0 0 .. 0.3 ..
Eritrea 28.1 5.3 22.8 1.4 0 0 0 0.5 0.5 23.2
Estonia 23.2 14.2 9 6.3 0.5 0 0 0.2 1.8 12.8
Ethiopia 10.5 6 4.5 4 0 0.1 12.4 0.3 0.5 -4.8
Faeroe Islands .. .. .. .. .. .. .. .. .. ..
Fiji 4.9 10.4 -5.4 4.6 0 0.2 0 .. 0.3 ..
Finland 28.3 16.4 12 7 0 0 0 0.1 0.3 18.6
France 22 12.6 9.4 5.1 0 0 0 0 0.2 14.3
French Polynesia .. 12.6 .. .. 0 0 0 .. 0.1 ..
Gabon 16.6 12.6 4 2.7 41.8 0 0 0.1 0.5 -35.7
Gambia, The 3.4 7.9 -4.4 3.4 0 0 0.5 0.7 0.4 -2.6
Georgia 12.7 15.6 -2.9 4.3 0.8 0 0 2.5 1.2 -3
Germany 20.3 14.9 5.4 4.3 0.1 0 0 0.1 0.2 9.3
Ghana 15.6 7.3 8.4 2.8 0 1.5 3.3 0.2 0.7 5.6
Greece 19.1 8.7 10.4 3.1 0.1 0.1 0 0.7 0.5 12.2
Greenland .. .. .. .. .. .. .. .. .. ..
Grenada 24.1 11.9 12.3 5.4 0 0 0 .. 0.3 ..
Guam .. .. .. .. .. .. .. .. .. ..
Guatemala 12.6 9.8 2.8 1.6 1.1 0 1.1 0.2 0.3 1.7
Guinea 17.2 8 9.1 2 0 3.7 1.9 0.6 0.3 4.8
Guinea-Bissau -15.1 6.9 -22.1 .. 0 0 0 .. 0.8 ..
Guyana 7.9 9.6 -1.7 3.3 0 7.2 0 .. 1.4 ..
Haiti 27.7 1.8 25.9 1.5 0 0 0.8 0.2 0.2 26.1
Honduras 25.9 5.6 20.3 3.5 0 0.1 0 0.2 0.5 23
Hong Kong, China 31.8 13.1 18.7 2.8 0 0 0 0 0.1 21.4
Hungary 23.1 11.8 11.3 4.9 0.7 0 0 0.4 0.7 14.4
Iceland 14.8 13.5 1.2 5.2 0 0 0 .. 0.2 ..
India 24.2 9.6 14.6 3.9 2.3 0.4 0.9 0.7 1.4 12.9
Indonesia 21 5.6 15.4 1.4 12.5 1.4 0 0.5 1.1 1.3
Iran 38 9.1 28.8 4 41.7 0.2 0 0.7 1.8 -11.5
Iraq .. .. .. .. .. .. .. .. .. ..
Ireland 29.5 11.9 17.6 5.7 0 0.1 0 0.1 0.3 22.7
Isle of Man .. .. .. .. .. .. .. .. .. ..
Israel 17.2 15.1 2.1 6.8 0 0.1 0 0 0.3 8.5
Italy 20.1 13.7 6.5 4.4 0.1 0 0 0.2 0.2 10.3
Jamaica 22.5 11 11.6 5.9 0 1.5 0 0.3 0.8 14.8
Japan 28.4 15.9 12.5 3.1 0 0 0 0.4 0.1 15.1
Jordan 21 10.6 10.4 5 0.3 1.3 0 0.7 1.1 11.9
Kazakhstan 23.3 9.9 13.4 4.4 41.5 1 0 0.4 4.2 -29.2
Kenya 13.4 7.7 5.7 6 0 0 0.1 0.2 0.5 10.9
Kiribati .. 4.8 .. .. 0 0 0 .. 0.2 ..
Korea, North .. .. .. .. .. .. .. .. .. ..
Korea, South 34 12.2 21.7 3.1 0 0 0 0.8 0.5 23.6
Kuwait 40 6.5 33.5 5 48.7 0 0 2 0.6 -12.9
Kyrgyz Republic 15.5 7.8 7.7 3.4 1.3 0 0 0.2 2.1 7.4
Lao PDR 21.1 7.7 13.4 1.8 0 0 0 0.2 0.1 14.8
Latvia 18.2 10.7 7.5 5.1 0 0 0 0.3 0.5 11.8
Lebanon 2.1 10.2 -8.1 2.5 0 0 0 0.6 0.5 -6.6
Lesotho 16.9 6.4 10.5 7.3 0 0 2.1 0.4 .. ..
Liberia .. 8.5 .. .. 0 8 2.3 0 0.6 ..
Libya .. .. .. .. .. .. .. .. .. ..
Liechtenstein .. .. .. .. .. .. .. .. .. ..
Lithuania 13.9 10.2 3.7 5.2 0.5 0 0 0.7 0.6 7.1
Luxembourg 36 13.4 22.6 3.7 0 0 0 .. 0.3 ..
Macao, China 47.2 12.6 34.6 3.6 0 0 0 .. 0.2 ..
Macedonia, FYR 23.5 9.9 13.6 4.9 0 0 0 0.3 1.9 16.3
Madagascar 9 7.3 1.7 1.8 0 0 0 0.2 0.4 2.9
Malawi 3 6.8 -3.8 4.4 0 0 1.6 0.2 0.3 -1.4
Malaysia 40.1 11.8 28.3 4.7 11.4 0 0 0.1 1 20.5
Maldives 36.8 10.6 26.2 6.1 0 0 0 .. 0.5 ..
Mali 13.9 7.1 6.8 2.1 0 0 0 0.5 0.1 8.3
Malta 15.4 7.5 7.9 4.9 0 0 0 .. 0.4 ..
Marshall Islands .. 7.8 .. .. 0 0 0 .. .. ..
Mauritania 16.7 7.5 9.1 3.7 0 19.9 0.8 .. 1.9 ..
Mauritius 25.1 10.8 14.2 3.3 0 0 0 .. 0.4 ..
Mayotte .. .. .. .. .. .. .. .. .. ..
Mexico 21 10.6 10.4 5 5.9 0.1 0 0.5 0.4 8.4
Micronesia .. 8.9 .. .. 0 0 0 .. .. ..
Moldova 15.6 7.1 8.6 3.5 0 0 0 0.5 2.9 8.7
Monaco .. .. .. .. .. .. .. .. .. ..
Mongolia 29.1 10.8 18.3 5.7 0 1.9 0 0.5 4.7 16.8
Morocco 22.9 9.4 13.4 4.8 0 0.6 0 0.2 0.7 16.8
Mozambique 11.2 7.4 3.8 3.8 0 0 0 0.4 0.2 7
Myanmar .. .. .. 0.9 .. .. .. .. .. ..
N. Mariana Islands .. .. .. .. .. .. .. .. .. ..
Namibia 27.5 13.1 14.4 7.4 0 0.3 0 0.2 0.3 21
Nepal 21.8 2.4 19.5 3.2 0 0 3.3 0.1 0.4 18.9
Netherlands 26.1 14.7 11.4 4.9 0.5 0 0 0.4 0.2 15.1
Netherlands Antilles .. .. .. .. .. .. .. .. .. ..
New Caledonia .. 12.4 .. .. 0 0 0 .. 0.4 ..
New Zealand 17.7 10.9 6.8 6.9 1.3 0.1 0 0 0.4 11.8
Nicaragua 17.3 9.1 8.2 3.7 0 0.1 0.9 0 0.6 10.3
Niger 2.6 6.7 -4 2.3 0 0 4.1 0.4 0.4 -6.7
Nigeria 25.7 8.4 17.3 0.9 50.8 0 0 0.8 0.6 -33.9
Norway 36.9 16.2 20.7 6.1 8 0 0 0.1 0.2 18.5
Oman 29.9 11.7 18.1 3.9 47.8 0 0 .. 0.6 ..
Pakistan 19.9 7.8 12.1 2.3 3.1 0 0.8 1 0.9 8.6
Palau .. 10.9 .. .. 0 0 0 .. 1.2 ..
Panama 24.9 7.9 17 4.5 0 0 0 0.3 0.3 20.8
Papua New Guinea .. 8.9 .. .. 17.8 11.7 0 0 0.4 ..
Paraguay 14.5 9.5 5 3.9 0 0 0 0.4 0.3 8.2
Peru 18.1 10.2 7.8 2.6 1.4 1.6 0 0.6 0.3 6.5
Philippines 26.7 8.2 18.5 2.8 0 0.1 0.8 0.4 0.6 19.5
Poland 18.8 11 7.8 6.3 0.5 0.1 0 0.7 1.1 11.7
Portugal 18.8 15.3 3.5 5.7 0 0 0 0.4 0.3 8.5
Puerto Rico .. 11.2 .. .. 0 0 0 .. 0.1 ..
Qatar .. .. .. .. .. .. .. .. .. ..
Romania 15.5 9.7 5.8 3.6 4.4 0.1 0 0.2 1.4 3.3
Russian Federation 37.1 10 27.1 3.5 39.6 0.4 0 0.6 3.4 -13.4
Rwanda 12.7 7.1 5.6 3.5 0 0 3 0 0.2 5.9
Samoa .. 9.5 .. 4 0 0 1.8 .. 0.3 ..
Sao Tome and Principe -3.3 8 -11.2 .. 0 0 0 .. 1.2 ..
Saudi Arabia 29.4 10 19.5 7.2 51 0 0 1 1.2 -26.5
Senegal 11.6 8.1 3.5 3.7 0 0.1 0.3 .. 0.6 ..
Serbia and Montenegro -2.6 8.7 -11.3 .. 2.3 0.3 0 0.2 3.5 ..
Seychelles 19.5 9.5 10.1 6.3 0 0 0 .. 0.2 ..
Sierra Leone 2.7 6.4 -3.8 3.9 0 0 6.3 0.4 0.5 -7.1
Singapore 47.7 14 33.7 2.3 0 0 0 0.4 0.4 35.2
Slovak Republic 22.9 11 12 4 0.1 0 0 0.1 1.1 14.7
Slovenia 23.8 12 11.8 5.4 0 0 0 0.2 0.5 16.5
Solomon Islands .. 8.5 .. 3.8 0 0.1 10.4 .. 0.3 ..
Somalia .. .. .. .. .. .. .. .. .. ..
South Africa 15.7 13.3 2.4 7.5 0 1 0.3 0.2 1.6 6.9
Spain 23 12.9 10.1 4.4 0 0 0 0.4 0.3 13.7
Sri Lanka 21.9 5.2 16.7 2.9 0 0 0.5 0.3 0.4 18.4
St. Kitts and Nevis 32.9 12.9 20 3.9 0 0 0 .. 0.2 ..
St. Lucia 16.3 11.7 4.6 7.7 0 0 0 .. 0.3 ..
St. Vincent 19.3 11.1 8.2 4.7 0 0 0 .. 0.3 ..
Sudan 7.6 9.2 -1.5 0.9 0 0.1 0 0.6 0.3 -1.6
Suriname -0.6 9.1 -9.7 .. 12.1 2.1 0 .. 1.4 ..
Swaziland 13.4 9.1 4.3 5.1 0 0 0 0.1 0.2 9.1
Sweden 22.3 14 8.3 7.7 0 0.1 0 0 0.1 15.8
Switzerland 32.8 14.5 18.3 4.9 0 0 0 0.2 0.1 22.9
Syria 24.3 9.6 14.7 3.5 34.5 0.1 0 0.8 1.9 -19.1
Taiwan, China 25.6 12.3 13.3 .. 0 0 0 .. 0.4 ..
Tajikistan 1.7 7 -5.3 2 0.7 0 0 0.2 2.5 -6.7
Tanzania 12.4 7.4 5.1 2.4 0 0.2 0 0.2 0.3 6.8
Thailand 30.9 14.9 15.9 3.6 1.6 0 0.3 0.4 1 16.3
Togo 0.9 7.5 -6.6 4.2 0 0.2 4.3 0.3 0.8 -7.9
Tonga -13.7 9.6 -23.3 4.7 0 0 0.1 .. 0.4 ..
Trinidad and Tobago 28.7 12.4 16.3 4.2 29.7 0 0 0 2.1 -11.4
Tunisia 24.3 10 14.3 6.4 4.8 0.6 0.2 0.3 0.6 14.1
Turkey 20.1 6.8 13.2 3.1 0.3 0 0 1.2 0.7 14.1
Turkmenistan 50.5 8.9 41.6 .. 182.7 0 0 0.3 7.7 ..
Uganda 15 7.3 7.7 1.9 0 0 6.1 0 0.2 3.4
Ukraine 25.6 19.4 6.2 6.4 7.4 0 0 1 6.7 -2.5
United Arab Emirates .. .. .. .. .. .. .. 0 .. ..
United Kingdom 15 11.5 3.5 5.3 1.1 0 0 0.1 0.2 7.3
United States 17.4 11.7 5.7 4.2 1.2 0 0 0.3 0.3 8.2
Uruguay 11.2 11.6 -0.4 2.7 0 0 0 1.9 0.2 0.2
Uzbekistan 18.2 8.4 9.8 9.4 42.1 0 0 0.6 5.2 -28.6
Vanuatu .. 9.8 .. 6.9 0 0 0 .. 0.2 ..
Venezuela 28.5 7.2 21.3 4.4 27.3 0.3 0 0 0.8 -2.7
Vietnam 31.7 7.9 23.8 2.8 8.7 0.1 1 0.4 1.1 15.5
Virgin Islands (U.S.) .. .. .. .. .. .. .. .. .. ..
West Bank and Gaza -5.5 8.2 -13.6 .. 0 0 0 .. .. ..
Yemen 34.4 8.9 25.5 .. 43.2 0 0 0.5 0.6 ..
Zambia 4 7.9 -3.9 2 0 2.5 0 .. 0.4 ..
Zimbabwe 11.9 8.5 3.3 6.9 0 0.6 0 0.5 1.3 7.8



Gross nat. saving - Gross national savings: The difference between GNI and public and private consumption plus net current transfer.

Net nat. saving - Net national savings: Difference between gross national savings and the consumption of fixed capital

Educ. exp - Education expenditure: Public current operating expenditures in education, including wages and salaries and excluding capital investments in buildings and equipment. The variable does not include private investment in education. It only includes public expenditures, for which internationally comparable data is available. Notice that education expenditure data are only available up to 1997. One dollar’s current expenditure on education does not necessarily yield exactly one dollar’s worth of human capital (see, for example, Jorgensen and Fraumeni 1992). However, an adjustment from standard national accounts is needed. In national accounts, nonfixed-capital expenditures on education are treated strictly as consumption. If a country’s human capital is to be regarded as a valuable asset, expenditures on its formation must be seen as an investment

Energy depl. - Energy depletion: Product of unit resource rents and the physical quantities of energy extracted. It covers coal, crude oil, and natural gas. Prices refer to international rather than local prices, to reflect the social cost of energy depletion. This differs from national accounts methodologies which may use local prices to measure energy GDP. This difference explains eventual discrepancies in the values for energy depletion and energy GDP.

Mineral depl. - Mineral depletion: Product of unit resource rents and the physical quantities of mineral extracted. It covers tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate. Prices refer to international rather than local prices, to reflect the social cost of energy depletion. This differs from national accounts methodologies which may use local prices to measure mineral GDP. This difference explains eventual discrepancies in the values for mineral depletion and mineral GDP.

Net forest depl. - Net forest depletion: Net forest depletion is not the monetary value of deforestation. Data on roundwood and fuelwood production are different from deforestation which represents a permanent change in land use, thus is not comparable. Areas logged out but intended for regeneration are not included in deforestation figures (see WDI definition of deforestation) but are counted as producing timber depletion. Net forest depletion only includes timber values and does not include the loss of nontimber forest benefits and nonuse benefits.

PM10 damage* - PM10 damages: Willingness to pay to avoid mortality attributable to particulate emissions. PM10D = Disability Adjusted Life Years lost due to PM emissions * PM10 damages only refer to mortality (thus permanent) damages and does not include morbidity (either chronic or acute) effects of PM concentration.

CO2 damage - CO2 damages: CO2 damages include the social cost of permanent damages caused by CO2 emissions. This may differ (sometimes in large measure) from the market value of CO2 emissions reductions traded in emissions markets.

Genuine saving - Adjusted net or genuine saving measures the true level of saving in a country after depreciation of produced capital, investments in human capital (as measured by education expenditures), depletion of minerals, energy, forests, and damages from local and global air pollutants are taken into account.



The figures are copyright the World Bank. Further information, along with the full report in PDF form, is available at www.worldbank.org/sustainabledevelopment

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