Please create an employee account to be able to mark statistics as favorites. This will also be smaller using the new GDP values. The Treasury said gross government debt will rise to 81.8% of GDP in the current fiscal year from 63.5%. Read more South Africa: National debt in relation to gross domestic product (GDP) from 2017 to 2027 The country's Nominal GDP reached 105.3 USD bn in Jun 2022. Government Debt in South Africa averaged 41996.08 USD Million from 2002 until 2022, reaching an all time high of 84435 USD Million in the second quarter of 2021 and a record low of 11594 USD Million in the first quarter of 2003. It's worse when you take population size into account. Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields. South Africa and Nigeria has a long way to go to uplift thousands upon thousands of citizens out of abject poverty. Advanced users can use our Python/R/Matlab packages. Current job openings: 2022 Data - 2023 Forecast - 2000-2021 Historical, South Africa Forex Reserves Fell Slightly in October, South Africa Private Sector Contracts for 2nd Month, South Africa Trade Surplus Unexpectedly Widens, South Africa Private Credit Growth at Near 7-Year High, South Africa Producer Inflation Eases Less than Expected, South Africa 10-Year Bond Yield at 1-Week Low, Baltic Exchange Dry Index at Over 1-Week High. The debt-to-GDP ratio is projected at 60.8% this fiscal year, compared with the February estimate of 56.2%. Instant access to full history data in excel. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook The South African economy has faced declining real GDP growth mainly due to high unemployment and inequality which result in subdued aggregate demand, thereby disincentivising private investment and undermining growth. Roughly 90% of the national debt in 2019/20 was denominated in South African rand thereby reducing borrowing risk due to currency fluctuations. The policy document revised the government's forecast for the consolidated budget deficit to 5.7% of GDP for the current fiscal yearwhich runs until 31 March 2022less than the 7.8% of GDP forecasted in November 2021. By comparison, the world average debt-to-GDP . South Africa's data is highlighted in the table below, use the filter and sort order . 51.6% of GDP (2016 est.) "South Africa: National Debt in Relation to Gross Domestic Product (Gdp) from 2017 to 2027. Entry level access to the CEIC platform for individual users. . This would allow the PIC to write off government and state-owned company debt of R670 billion and release more than R300 billion into the economy. License : CC BY-4.0. The country's Nominal GDP reached 105.3 USD bn in Jun 2022. This page provides - South Africa Government Debt To GDP - actual values, historical . (April 19, 2022). Before COVID-19, SA's GDP was forecast by Moody's to grow by 0.7% for 2020, a result of a stalling economy and the crippling effects of power outages due to the ineptitude of the state-owned monopoly electricity provider. The South African Reserve Bank provides Government Debt in local currency and Nominal GDP in local currency. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. The UK government has now taken on over two trillion pounds in national debt for the first time, over 100% of GDP. 53.0 (%) in 2017. Population of South Africa: About 54.5 million. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q2 2022, Profit from additional features with an Employee Account. 6 This translates to about R40 000 per person living in the country. To find out more about the cookies we use, see our Cookies Policy. Line Bar Map. After the pandemic-induced contraction of 6.4% in 2020, South Africa's economy started to recover in 2021, with GDP growth reaching 4.9%. South Africa Government debt accounted for 70.1 % of the country's Nominal GDP in Jun 2022, compared with the ratio of 68.0 % in the previous quarter. Real GDP has declined from 1.8% in 2014 to an annual average of 1.1% from 2015 to 2017. Get full access to all features within our Corporate Solutions. As of 2021/22 total South African government debt was $130 billion. In one of the more optimistic recent forecasts, S&P forecast a contraction of 4.5% for 2020. Debt as a percentage of GDP: 56.1%. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Standard users can export data in a easy to use web interface or using an excel add-in. Explore the most complete set of 6.6 million time series covering more than 200 economies, 20 industries and 18 macroeconomic sectors. The very low trend growth and exceptionally high inequality will continue to complicate fiscal consolidation efforts. facts. Ratio, Quarterly, Not Seasonally Adjusted Q1 2008 to Q1 2021 (Jul 1) . As well as an update on new initiatives to enhance debt transparency and broaden the coverage of the debt data collected and disseminated by . South Africa government debt to GDP ratio data is updated quarterly, available from Dec 1960 to Jun 2022. South Africa Government debt accounted for 70.1 % of the country's Nominal GDP in Jun 2022, compared with the ratio of 68.0 % in the previous quarter. Instant access to full history data in excel. This is mainly because of the size of China's $117 trillion (before the new stimulus) government debt, which is nearly four times the size of the U.S. debt. Advertisement. In the latest reports, South Africa National Government Debt reached 272.3 USD bn in Jul 2022. Please do not hesitate to contact me. Growth was supported by favorable global demand and commodity prices, as well as the rebound in domestic economic activities from the 2020 recession. Use Ask Statista Research Service, COVID-19 deaths worldwide as of October 24, 2022, by country and territory, COVID-19 cases worldwide as of October 24, 2022, by country or territory, Coronavirus (COVID-19) cases, recoveries, and deaths worldwide as of October 24, 2022. The implications of this debt do not only hamper the economy but also the livelihoods of people who live below . There is no data available for your selected dates. In the latest reports, South Africa National Government Debt reached 272.3 USD bn in Jul 2022. The R3 trillion in debt owed by the South African government is 60% of the countries gross domestic product (GDP), which are levels last experienced in 1995 and 1996. South Africa Government Debt to GDP Last Release Dec 31, 2021 Actual 69.9 Units In % of GDP Previous 70.7 Frequency Yearly Next Release N/A Time to Release N/A 2010 2013 2016 2021 33 55 77. Full and unlimited access to CEIC data for multiple users. Available via annual subscription to one or more of CEICs global and premium databases. ", IMF, South Africa: National debt in relation to gross domestic product (GDP) from 2017 to 2027 Statista, https://www.statista.com/statistics/578887/national-debt-of-south-africa-in-relation-to-gross-domestic-product-gdp/ (last visited November 07, 2022), South Africa: National debt in relation to gross domestic product (GDP) from 2017 to 2027, Crude birth rate in South Africa 2010-2020, Life expectancy at birth in South Africa 2020, Median age of the population in South Africa 2015, Gross domestic product (GDP) in South Africa 2027, Gross domestic product (GDP) per capita in South Africa 2027, Gross domestic product (GDP) growth rate in South Africa 2027, South Africa: Share in global GDP adjusted for PPP 2027, Gross domestic product (GDP) distribution across economic sectors South Africa 2021, Employment by economic sector in South Africa 2019, Labor force participation rate in South Africa 2019, National debt of South Africa in relation to gross domestic product (GDP) 2027, Ratio of military expenditure to gross domestic product (GDP) in South Africa 2020, Ratio of government expenditure to gross domestic product (GDP) in South Africa 2027, South Africa's budget balance in relation to GDP 2027, New cases of COVID-19 worldwide from January 23, 2020 to October 23, 2022, by day, Cumulative cases of COVID-19 worldwide from Jan. 22, 2020 to Oct. 23, 2022, by day, Sweden: real economy debt change from 2007 to 2014, Poland: real economy debt change from 2007 to 2013, General government debt in Finland 2008-2018, State and local government debt in Wisconsin 1999-2027, State and local government debt in New Hampshire FY 1999-2025, Industry revenue of printing and related support activities in California 2012-2024, Industry revenue of roofing contractors in Washington 2012-2024, Industry revenue of other IT and computer service activities in Austria 2012-2025, Find your information in our database containing over 20,000 reports, Find a brief overview of all Outlooks here, Tools and Tutorials explained in our Media Centre. April 19, 2022. Advanced users can use our Python/R/Matlab packages. It shows preliminary estimates of gross government debt climbing to 80.5% of gross domestic product in this fiscal year, compared with a projection of 65.6% in February. "Gross debt-to-GDP is now projected to stabilise at 88.9% of GDP . IMF. South Africa's current account has been negative for years. 2021 CEIC Data, an ISI Emerging Markets Group Company. 7 Servicing this level of debt can be expensive. Further, the debt reached an all-time high of 70.2 per cent in March 2021 and a record low of 23.5 per cent in September 2008. Trading Economics welcomes candidates from around the world. In view of structural impediments to growth and the lack of a clear reform agenda, we expect public . Nigeria is ranked as the 22nd largest economy in the world, and they rank 42nd in terms of GDP per capita. South Africa's is officially reported as having a debt-to-GDP ratio of 69% by the IMF. Suitable for enterprise usage. Gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Accessed November 07, 2022. https://www.statista.com/statistics/578887/national-debt-of-south-africa-in-relation-to-gross-domestic-product-gdp/, IMF. Download Historical Data. The Trading Economics Application Programming Interface (API) provides direct access to our data. South Africa: National debt in relation to gross domestic product (GDP) from 2017 to 2027 [Graph]. South Africa sees government debt exceeding 100% of GDP Staff Writer 20 June 2020 Subscribe South Africa's debt levels will exceed 100% of gross domestic product by 2024-25 and rise to. Thursday, 3 November, 2022 - 16:17. We have a plan for your needs. This website stores cookies on your computer. A worrisome government debt trajectory could be the cause of the crash of the economy in South Africa. Currently, you are using a shared account. Government Debt in South Africa decreased to 78749 USD Million in the second quarter of 2022 from 83437 USD Million in the first quarter of 2022. 1990 1992 1994 1996 1998 2000 % 32 34 36 38 40 42 44 46 South Africa. South Africa gdp for 2020 was $335.44B, a 13.53% decline from 2019. The country's debt to GDP ratio in October 2020 was calculated at 82.76% of GDP by the International Monetary Fund. The country's finances have deteriorated rapidly over the past decade. likely to have a linear negative impact on the public debt-to-GDP ratio; high levels of public debt are also likely to be harmful for growth, but potentially after a certain threshold has been reached. Government Debt to GDP in South Africa decreased to 69.9 % in 2021. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. These cookies are used to collect information about how you interact with our website and allow us to remember you. Are you interested in testing our corporate solutions? Public debt. The 2020 Budget Review, released a few weeks before the President declared a national state of disaster, noted that gross government debt was projected to increase from 65.6 per cent in the current year to 71.6 per cent of GDP by 2022/23. Gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. On a year on year basis South Africa's government debt to gdp increased by 198.56%. South Africa gdp for 2018 was $404.84B, a 6.13% increase from 2017. . . . This resulted in a widening of the deficit before borrowing and in government debt as a percentage of GDP . See the table below for more data. South African government debt soared by 15 points of GDP to reach 77% of GDP in 2020 from 62% the year before. South Africa - External Debt. Although the country's pre-pandemic forecast for debt-to-GDP ratio for 2020 was already high at 65.6 percent, supporting the economy through the pandemic. The maximum level was 83 % and minimum was 27.8 % Data published Yearly by National Treasury. Projection of General government gross debt for South Africa . This includes debt liabilities in the form of SDRs, currency and deposits, debt securities, loans, insurance, pensions and standardized guarantee schemes, and other accounts payable. Gross debt amounted to 4.2 trillion rand ($261 billion), or 97.3% of the government's estimate by Oct. 31, according to the South African Reserve Bank's Quarterly Bulletin published on . South Africa's debt levels will exceed 100% of gross domestic product by 2024-25 and rise to almost 114% by 2028-29 . Using the World Economics GDP database, South Africa's GDP would be $1,128 billion - 43% larger than official estimates, South Africa's debt ratio would be smaller at 48.2%. Things aren't going to get much . Author: Hazel Kosie. Over that timeframe, Moody's expects primary deficits to persist. Source: South African Reserve Bank. The debt-to-GDP ratio is the ratio between a country's government debt and its gross domestic product (GDP). Interest payments accounted for 9,2% (or R146 billion) of general government expenditure (R1,58 trillion) in 2016/17. South Africa Government Debt to GDP source: tradingeconomics.com. White label accounts can distribute our data. The biggest component is the income portion. API users can feed a custom application. South Africa recorded a Government Debt to GDP of 69.90 percent of the country's Gross Domestic Product in 2021. What is South Africa Government Debt to GDP Ratio? The pandemic has severely hit South Africa's economic growth performance, and GDP . Even so, with the global economic fallout due to the covid-19 pandemic, governments implemented large-scale debt . We use this information in order to improve and customize your browsing experience and for analytics and metrics about our visitors both on this website and other media. Profit from the additional features of your individual account. National debt per citizen: R55 897. White label accounts can distribute our data. The government's borrowing . A third example is South Africa's debt-to-GDP ratio. Then you can access your favorite statistics via the star in the header. Government debt (% of GDP) of South Africa increased from 42.4 % in 2001 to 77.1 % in 2020 growing at an average annual rate of 3.63%. Related information about South Africa Government Debt: % of GDP. In 2020, the South African real GDP shrank by -7%, leading to the worst economic contraction in the country's recent history. Presenting preliminary estimates of external debt stocks at end-2021 for low- and middle-income countries and information on new bond issuance in international capital markets. South Africa's gross loan debt stood at R2,2 trillion in 2016/17, according to the National Treasury. About government; About South Africa; Contact your government; Feedback; Sitemap; Get e-mail updates; Services for residents; Services for organisations; Services for foreign nationals; FAQs; Terms and conditions; RSS feeds; Department of Health's Covid-19 online resource and news portal. An analysis of South Africa's current economic crisis which has put the country on . Chart. Final consumption expenditure (% of GDP) - South Africa from The World Bank: Data South African Debt Places Government In Difficult Position. Description. It is not a doomsday scenario . International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates. The National Debt of South Africa The Trading Economics Application Programming Interface (API) provides direct access to our data. In 2020, government debt (% of GDP) for South Africa was 77.1 %. The US is also likely to breach the 100% mark, a level many European countries . Central government debt, total (% of GDP) - South Africa. % of GDP 2020 South Africa (red), OECD - Total (black) Long-term interest rates Indicator: 11.6 Total % per annum Oct-2022 South Africa % per annum: Total % per annum . The economy of South Africa is offically reported as having a debt-to-GDP ratio of 69.0%, indicating South Africa's debt level is . Includes 253 key indicators for South Africa, curated by CEIC analysts. South Africa's GDP: R5.4 trillion. The print was driven by increases in household consumption and exports of goods and services, although the pace of expansion eased for both. Categories > International Data > Countries > South Africa General government gross debt for South Africa (GGGDTAZAA188N) 2021: 68.978 | Percent of GDP | Annual | Updated: Oct 14, 2022 A single cookie will be used in your browser to remember your preference not to be tracked. Debt as % of GDP 67.58% GDP Of South Africa $374,946,000,000 South Africa Population 54,500,000 In this guide to South Africa's National Debt, we discuss the amount of the debt, how it's calculated, who controls it, who holds the debt, how the government raises funds, and the political issues surrounding its debt. Includes Government Debt: % of GDP on 108 economies standardised by CEIC. You could buy 83099 pieces of Lamborghini Veneno for that amount.. You could wrap $100 bills would wrap around the planet 14 times.. It is seen rising to 64.9% next year and 68.5% in 2022. South Africa is ranked as the 33rd largest economy in the world, and they rank 37th in terms of GDP per capita. Standard users can export data in a easy to use web interface or using an excel add-in. 53% of GDP (2017 est.) The National Treasury said the consolidated deficit is projected to narrow from 14% of GDP in 2020/21 to 6.3% of GDP by 2023/24. South Africa debt to gdp ratio for 2000 was 39.64%, a 2.54% decline from 1999. The economy returned to pre-pandemic levels as economic growth accelerated in the first quarter. the national government departments excluding social security funds and other . Download limits apply. South Africa is one such example. World Economics has upgraded each country's GDP presenting it in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data. South Africa debt to gdp ratio for 1999 was 42.18%, a 2.48% decline from 1998. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. All rights reserved, Unlimited access tailored to your data needs. In 2021, the national debt of South Africa amounted to approximately 69.13 percent of GDP. and over 1Mio. The trajectory. T he COVID-19 pandemic erupted when South Africa was already in a weak fiscal position. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. The South African government debt to GDP ratio is updated quarterly and available as far back as from December 1960 to June 2022 (CEIC Data). South Africa's government debt would stabilise later and at a higher level than currently expected by Moody's. A steeper . Debt-to-GDP increased by 10 percentage points (ppts) over 2014-18 and will rise by a further 22 ppts over 2019-23 under Moody's baseline projections. Central government debt, total (current LCU), Taxes on income, profits and capital gains (current LCU), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. South Africa's estimated to be in the trillions, wIth an additional amount from debt servicing costs. Over the last decade, emerging market economy countries such as South Africa have seen their levels of government debt-to-GDP rise substantially, which has led to much debate around fiscal sustainability and sovereign debt risk. Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields. Data by the Bank of Ghana (BoG) shows that Ghana's debt, which was GHS291 . Historical Data (%) by years Data Period Date Historical Chart by presidents (%) Cyril Ramaphosa Jacob Zuma Thabo Mbeki To learn more about cookies, click here. South Africa Debt to GDP Ratio: 69.0% DEBT TO GDP RATIO (PERCENTAGE) GDP in South Africa is offically estimated to be $351 Billion US dollars at the end of 2019. The data reached an all-time high of 70.2 % in Mar 2021 and a record low of 23.5 % in Sep 2008. South Africa recorded a Government Debt to GDP of 69.90 percent of the country's Gross Domestic Product in 2021. For South Africa, the monthly statement of Central Government Operations presents revenue, expenditure (including separate data on interest payments), the balance (deficit/surplus) and financing by financial instrument of the national government (i.e. The downgrade and Negative Outlook reflect high and rising government debt, exacerbated by the economic shock triggered by the COVID-19 pandemic. Central government debt, total (% of GDP) for South Africa Percent of GDP, Annual, Not Seasonally Adjusted 1990 to 2000 (Sep 28) In response to these shifts in real GDP growth, the Government of South Africa (GoSA) has . Monetary Fund, Government Finance statistics Yearbook and data files, and World Bank and GDP. 42 44 46 south Africa support your business to an annual average of 1.1 % from 2015 2017! Files, and GDP provides direct access to our data ( R1,58 trillion ) in 2016/17 be Are an admin, please authenticate by logging in again Statista can support your. 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