South Africa - Domestic credit provided by financial sector (% of GDP)

Domestic credit provided by financial sector (% of GDP) in South Africa was 142.38 as of 2020. Its highest value over the past 55 years was 171.42 in 2007, while its lowest value was 74.11 in 1980.

Definition: 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.

Source: International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1965 87.15
1966 83.03
1967 81.48
1968 82.88
1969 83.52
1970 86.14
1971 88.47
1972 87.76
1973 85.53
1974 80.37
1975 84.87
1976 84.45
1977 85.06
1978 83.55
1979 82.28
1980 74.11
1981 79.64
1982 81.03
1983 85.38
1984 87.59
1985 93.81
1986 91.91
1987 90.55
1988 91.47
1989 90.68
1990 94.81
1992 116.20
1993 114.31
1994 119.86
1995 122.80
1996 122.92
1997 121.49
1998 122.13
1999 134.77
2000 133.50
2001 157.30
2002 137.01
2003 141.68
2004 149.37
2005 157.68
2006 170.53
2007 171.42
2008 150.77
2009 152.97
2010 157.70
2011 147.60
2012 156.47
2013 156.62
2014 160.18
2015 152.32
2016 152.85
2017 155.94
2018 147.15
2019 147.39
2020 142.38

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: In a few countries governments may hold international reserves as deposits in the banking system rather than in the central bank. Since claims on the central government are a net item (claims on the central government minus central government deposits), the figure may be negative, resulting in a negative figure for domestic credit provided by the banking sector.

Statistical Concept and Methodology: Domestic credit provided by the financial sector as a share of GDP measures banking sector depth and financial sector development in terms of size. The data on domestic credit provided by the financial sector are taken from the financial corporations survey (line 52) of the International Monetary Fund's (IMF) International Financial Statistics or, when unavailable, from its depository corporations survey (line 32). The financial sector includes monetary authorities (the central bank) and deposit money banks, as well as other financial institutions where data are available (including institutions that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other banking institutions are savings and mortgage loan institutions, finance companies, development banks, and building and loan associations.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Assets