Domestic credit to private sector in South Africa
South Africa: Domestic credit to private sector was 89.4% in 2024. ▲ Rising
Domestic credit to private sector in South Africa, 1965–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2024, domestic credit to private sector in South Africa stood at 89.4%.
That represents a change of down 0.3% on the previous year and down 30.6% over ten years.
Over the whole period, domestic credit to private sector in South Africa peaked at 142.4% in 2007 and was at its lowest, 50.1%, in 1980.
That places South Africa 28th out of 187 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 to private sector in South Africa, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1965 | 58.7% | — |
| 1966 | 57.4% | -2.2% |
| 1967 | 56.8% | -1.0% |
| 1968 | 54.8% | -3.6% |
| 1969 | 56.2% | +2.5% |
| 1970 | 57.6% | +2.6% |
| 1971 | 58.1% | +0.8% |
| 1972 | 57.2% | -1.6% |
| 1973 | 57.9% | +1.3% |
| 1974 | 55.0% | -5.1% |
| 1975 | 56.7% | +3.0% |
| 1976 | 54.7% | -3.5% |
| 1977 | 53.9% | -1.6% |
| 1978 | 53.4% | -0.9% |
| 1979 | 52.1% | -2.5% |
| 1980 | 50.1% | -3.8% |
| 1981 | 53.9% | +7.7% |
| 1982 | 55.3% | +2.5% |
| 1983 | 58.8% | +6.4% |
| 1984 | 61.8% | +5.0% |
| 1985 | 65.2% | +5.6% |
| 1986 | 64.9% | -0.5% |
| 1987 | 65.2% | +0.6% |
| 1988 | 66.8% | +2.3% |
| 1989 | 69.1% | +3.6% |
| 1990 | 71.9% | +4.0% |
| 1992 | 91.0% | +26.5% |
| 1993 | 95.8% | +5.3% |
| 1994 | 101.1% | +5.5% |
| 1995 | 105.0% | +3.9% |
| 1996 | 105.5% | +0.5% |
| 1997 | 102.4% | -3.0% |
| 1998 | 103.7% | +1.3% |
| 1999 | 118.2% | +13.9% |
| 2000 | 117.1% | -0.9% |
| 2001 | 121.1% | +3.4% |
| 2002 | 97.3% | -19.6% |
| 2003 | 102.8% | +5.6% |
| 2004 | 112.8% | +9.8% |
| 2005 | 122.3% | +8.4% |
| 2006 | 139.0% | +13.7% |
| 2007 | 142.4% | +2.5% |
| 2008 | 126.0% | -11.6% |
| 2009 | 121.1% | -3.9% |
| 2010 | 124.1% | +2.5% |
| 2011 | 119.0% | -4.1% |
| 2012 | 125.2% | +5.2% |
| 2013 | 127.0% | +1.5% |
| 2014 | 128.8% | +1.4% |
| 2015 | 127.2% | -1.3% |
| 2016 | 124.4% | -2.2% |
| 2017 | 127.0% | +2.1% |
| 2018 | 118.4% | -6.8% |
| 2019 | 117.2% | -1.0% |
| 2020 | 109.1% | -6.9% |
| 2021 | 93.2% | -14.5% |
| 2022 | 91.6% | -1.7% |
| 2023 | 89.7% | -2.0% |
| 2024 | 89.4% | -0.3% |
South Africa compared with similar countries
- South Africa's 89.4% is above the median for upper middle income countries, which is 44.9%, 2.0× the median. (55 countries reporting)
- South Africa's 89.4% is above the median for Sub-Saharan Africa, which is 15.9%, 5.6× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 56.8% | 54.8% | 58.7% | 5 |
| 1970s | 55.7% | 52.1% | 58.1% | 10 |
| 1980s | 61.1% | 50.1% | 69.1% | 10 |
| 1990s | 99.4% | 71.9% | 118.2% | 9 |
| 2000s | 120.2% | 97.3% | 142.4% | 10 |
| 2010s | 123.8% | 117.2% | 128.8% | 10 |
| 2020s | 94.6% | 89.4% | 109.1% | 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 to private sector in South Africa?
- Domestic credit to private sector in South Africa was 89.4% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit to private sector recorded in South Africa?
- The highest recorded value was 142.4% in 2007.
- What is the lowest domestic credit to private sector recorded in South Africa?
- The lowest recorded value was 50.1% in 1980.
- How does South Africa rank for domestic credit to private sector?
- South Africa ranks 28th out of 187 countries with data for 2024.
- Is domestic credit to private sector rising or falling in South Africa?
- Over the last ten years it is down 30.6%. 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 to private sector (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises. The financial corporations include 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.