Net incurrence of liabilities, total in South Africa
South Africa: Net incurrence of liabilities, total was 5.6% in 2024. ▲ Rising
Net incurrence of liabilities, total in South Africa, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for net incurrence of liabilities, total in South Africa is 5.6%, measured in 2024.
That represents a change of up 17.6% on the previous year and up 7.5% over ten years.
Over the whole period, net incurrence of liabilities, total in South Africa peaked at 12.6% in 2020 and was at its lowest, 0.5%, in 2007.
South Africa ranks 32nd of 136 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 53 years of available data.
Net incurrence of liabilities, total in South Africa, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | 4.6% | — |
| 1973 | 3.2% | -31.1% |
| 1974 | 2.8% | -11.0% |
| 1975 | 5.1% | +81.7% |
| 1976 | 5.2% | +0.7% |
| 1977 | 5.4% | +4.9% |
| 1978 | 4.8% | -11.3% |
| 1979 | 3.8% | -20.9% |
| 1980 | 2.2% | -42.5% |
| 1981 | 2.9% | +34.8% |
| 1982 | 4.5% | +52.6% |
| 1983 | 4.1% | -8.1% |
| 1984 | 4.0% | -2.0% |
| 1985 | 3.5% | -12.4% |
| 1986 | 5.1% | +43.8% |
| 1987 | 6.2% | +22.5% |
| 1988 | 5.0% | -19.3% |
| 1989 | 4.6% | -9.4% |
| 1990 | 3.3% | -28.4% |
| 1991 | 3.8% | +15.0% |
| 1992 | 6.9% | +82.3% |
| 1993 | 8.0% | +17.2% |
| 1994 | 4.9% | -38.6% |
| 1995 | 4.8% | -2.0% |
| 1996 | 3.4% | -29.4% |
| 1997 | 3.0% | -11.7% |
| 1998 | 2.3% | -23.2% |
| 1999 | 1.7% | -28.2% |
| 2000 | 1.6% | -2.5% |
| 2001 | 1.3% | -17.0% |
| 2002 | 1.5% | +14.2% |
| 2003 | 2.9% | +86.8% |
| 2004 | 3.2% | +10.4% |
| 2005 | 2.2% | -30.3% |
| 2006 | 0.6% | -70.9% |
| 2007 | 0.5% | -27.1% |
| 2008 | 2.4% | +408.3% |
| 2009 | 8.1% | +240.7% |
| 2010 | 6.8% | -16.4% |
| 2011 | 5.0% | -26.1% |
| 2012 | 4.3% | -14.5% |
| 2013 | 5.6% | +30.2% |
| 2014 | 5.2% | -5.7% |
| 2015 | 4.9% | -7.0% |
| 2016 | 5.0% | +2.7% |
| 2017 | 5.8% | +16.3% |
| 2018 | 5.4% | -7.3% |
| 2019 | 7.5% | +38.5% |
| 2020 | 12.6% | +68.1% |
| 2021 | 4.2% | -66.3% |
| 2022 | 4.9% | +14.7% |
| 2023 | 4.8% | -1.1% |
| 2024 | 5.6% | +17.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.4% | 2.8% | 5.4% | 8 |
| 1980s | 4.2% | 2.2% | 6.2% | 10 |
| 1990s | 4.2% | 1.7% | 8.0% | 10 |
| 2000s | 2.4% | 0.5% | 8.1% | 10 |
| 2010s | 5.5% | 4.3% | 7.5% | 10 |
| 2020s | 6.4% | 4.2% | 12.6% | 5 |
Countries ranked near South Africa
More public sector data for South Africa
- Arms imports 30.00 million SIPRI trend indicator values (2023)
- Arms imports (SIPRI trend indicator values), per capita 0.4746 SIPRI trend indicator values per person (2023)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0001 SIPRI trend indicator values per US$ of GDP (2023)
- Arms imports (SIPRI trend indicator values), annual growth rate 0 % change on previous year (2023)
- Arms imports (SIPRI trend indicator values), gaps filled 30.00 million SIPRI trend indicator values (2023)
- Military expenditure (current USD), per capita 44.31 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0071 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate -1.41 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 2.84 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 24.73 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is net incurrence of liabilities, total in South Africa?
- Net incurrence of liabilities, total in South Africa was 5.6% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in South Africa?
- The highest recorded value was 12.6% in 2020.
- What is the lowest net incurrence of liabilities, total recorded in South Africa?
- The lowest recorded value was 0.5% in 2007.
- How does South Africa rank for net incurrence of liabilities, total?
- South Africa ranks 32nd out of 136 countries with data for 2024.
- Is net incurrence of liabilities, total rising or falling in South Africa?
- Over the last ten years it is up 7.5%. The long-run trend across the full record is rising.
- Where does this South Africa data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. 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.