Dutch households and non-profit foundations saved €77bn last year, or the equivalent of €4,418 per person, national statistics agency CBS said on Friday.

The total is far and away the most ever saved in a year, even taking inflation into account, the CBS said.

Disposable income rose by an average of €769 per person in 2020, while outgoings fell by €1,157 as the lockdown closed shops and restricted travel, leading to reduced spending on clothes and holidays.

Most of the extra money is being held in savings accounts, but buying shares and investing in property was also popular, the CBS said.