Domestic credit provided by financial sector in South Africa
South Africa: Domestic credit provided by financial sector was 123.4% in 2024. ▲ Rising
Domestic credit provided by financial sector in South Africa, 1965–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
South Africa recorded 123.4% for domestic credit provided by financial sector in 2024.
That represents a change of up 4.1% on the previous year and down 20.9% over ten years.
Over the whole period, domestic credit provided by financial sector in South Africa peaked at 171.4% in 2007 and was at its lowest, 68.8%, in 1980.
That places South Africa 11th out of 65 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 59 years of available data.
Domestic credit provided by financial sector in South Africa, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1965 | 75.6% | — |
| 1966 | 72.2% | -4.5% |
| 1967 | 71.0% | -1.7% |
| 1968 | 72.1% | +1.6% |
| 1969 | 72.8% | +1.0% |
| 1970 | 74.8% | +2.8% |
| 1971 | 76.8% | +2.8% |
| 1972 | 76.5% | -0.5% |
| 1973 | 75.3% | -1.5% |
| 1974 | 71.5% | -5.1% |
| 1975 | 75.4% | +5.5% |
| 1976 | 75.1% | -0.4% |
| 1977 | 76.3% | +1.6% |
| 1978 | 75.7% | -0.8% |
| 1979 | 75.2% | -0.6% |
| 1980 | 68.8% | -8.6% |
| 1981 | 73.1% | +6.2% |
| 1982 | 74.0% | +1.2% |
| 1983 | 77.6% | +4.9% |
| 1984 | 79.8% | +2.9% |
| 1985 | 86.0% | +7.7% |
| 1986 | 84.6% | -1.6% |
| 1987 | 83.1% | -1.8% |
| 1988 | 83.7% | +0.8% |
| 1989 | 83.1% | -0.8% |
| 1990 | 86.9% | +4.6% |
| 1992 | 106.4% | +22.4% |
| 1993 | 114.3% | +7.5% |
| 1994 | 119.9% | +4.9% |
| 1995 | 122.8% | +2.4% |
| 1996 | 122.9% | +0.1% |
| 1997 | 121.5% | -1.2% |
| 1998 | 122.1% | +0.5% |
| 1999 | 134.8% | +10.4% |
| 2000 | 133.5% | -0.9% |
| 2001 | 157.3% | +17.8% |
| 2002 | 137.0% | -12.9% |
| 2003 | 141.7% | +3.4% |
| 2004 | 149.4% | +5.4% |
| 2005 | 157.7% | +5.6% |
| 2006 | 170.5% | +8.1% |
| 2007 | 171.4% | +0.5% |
| 2008 | 150.8% | -12.0% |
| 2009 | 153.0% | +1.5% |
| 2010 | 152.8% | -0.1% |
| 2011 | 144.1% | -5.7% |
| 2012 | 152.5% | +5.8% |
| 2013 | 152.6% | +0.1% |
| 2014 | 156.0% | +2.2% |
| 2015 | 150.2% | -3.8% |
| 2016 | 150.6% | +0.3% |
| 2017 | 153.9% | +2.2% |
| 2018 | 145.6% | -5.4% |
| 2019 | 145.4% | -0.1% |
| 2020 | 140.3% | -3.5% |
| 2021 | 122.1% | -12.9% |
| 2022 | 118.5% | -2.9% |
| 2023 | 118.5% | -0.0% |
| 2024 | 123.4% | +4.1% |
South Africa compared with similar countries
- South Africa's 123.4% is above the median for upper middle income countries, which is 62.6%, 2.0× the median. (30 countries reporting)
- South Africa's 123.4% is above the median for Sub-Saharan Africa, which is 51.1%, 2.4× the median. (12 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 72.7% | 71.0% | 75.6% | 5 |
| 1970s | 75.3% | 71.5% | 76.8% | 10 |
| 1980s | 79.4% | 68.8% | 86.0% | 10 |
| 1990s | 116.8% | 86.9% | 134.8% | 9 |
| 2000s | 152.2% | 133.5% | 171.4% | 10 |
| 2010s | 150.4% | 144.1% | 156.0% | 10 |
| 2020s | 124.6% | 118.5% | 140.3% | 5 |
Countries ranked near South Africa
More financial sector data for South Africa
- Reserve position in the IMF, US dollar, annual growth rate 5.08 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 13.81 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0.0607 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 10.08 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.08 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 13.81 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0.0607 % change on previous year (2025)
Frequently asked questions
- What is domestic credit provided by financial sector in South Africa?
- Domestic credit provided by financial sector in South Africa was 123.4% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit provided by financial sector recorded in South Africa?
- The highest recorded value was 171.4% in 2007.
- What is the lowest domestic credit provided by financial sector recorded in South Africa?
- The lowest recorded value was 68.8% in 1980.
- How does South Africa rank for domestic credit provided by financial sector?
- South Africa ranks 11th out of 65 countries with data for 2024.
- Is domestic credit provided by financial sector rising or falling in South Africa?
- Over the last ten years it is down 20.9%. The long-run trend across the full record is rising.
- Where does this South Africa data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Domestic credit provided by financial sector (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Domestic credit provided by the financial sector includes all credit to various sectors on a gross basis, with the exception of credit to the central government, which is net. The financial sector includes monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.