Data, released by Eurostat reveals that in 2021, Portuguese families saved only 9.8% of their income, while Ireland is at the top of the table.
Among the EU Member States that joined the euro, eight countries had higher family savings rates than the EU average (16.9%) in 2021. These are Belgium, Austria, Luxembourg, France, Slovenia, Germany, Countries Netherlands and, in first place, Ireland (where there is a saving of 24.3%), according to data reported by ECO.
Of the EU countries that have not joined the euro, the Czech Republic is the one where households save the most, namely 19.4% of their income. The country takes, thus, the fourth place in the general table. Sweden (18.1%) and Hungary (17.4%) follow.
Household behaviour is analysed by Eurostat using indicators that cover gross savings and investment rates, gross debt to income ratios and net financial wealth versus income. According to the report, the EU country with the lowest family savings rate is Poland, at just 2.8%. But if we talk about the Member States that have the euro as their only currency, the highlight goes to Greece, where families save only 3.7% of their income.
According to the advanced data, among all the Member States of the European alliance, Portugal occupies the 20th place in the table, with households saving only around 9.8% of their income. The country thus becomes the fifth country in the EU where families save the least.