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Prices & public finance · Sub-Saharan Africa · Upper-middle income
South Africa: prices, money and public finance
Inflation is 3.2% (2025), 89th of 180 in the world and 28th of 44 in Sub-Saharan Africa. GDP deflator is 2.8% (2025), 126th of 209 in the world and 32nd of 46 in Sub-Saharan Africa. Lending rate is 10.7% (2025), 54th of 136 in the world and 22nd of 36 in Sub-Saharan Africa.
Inflation
South AfricaSub-Saharan AfricaUpper-middle incomeWorld
GDP deflator
South AfricaSub-Saharan AfricaUpper-middle incomeWorld
14 indicators
Prices & public finance: South Africa in detail
Latest reported value, world rank and rank within Sub-Saharan Africa; values around 2000, 2010, 2020; group and world columns are World Bank aggregates.
| Indicator | Latest | World rank | In region | ~2000 | ~2010 | ~2020 | 10-year change | Region | Income group | World | Since 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| InflationInflation, consumer prices, annual % | 3.2%2025 | 89/180 | 28/44 | 5.3% | 4.1% | 3.2% | −1.3 ppsince 2015 | 3.4% | 3.3% | 3.0% | |
| GDP deflatorInflation, GDP deflator, annual % | 2.8%2025 | 126/209 | 32/46 | 9.2% | 6.1% | 5.4% | −2.8 ppsince 2015 | 4.1% | 3.3% | 3.3% | |
| Lending rateLending interest rate, % | 10.7%2025 | 54/136 | 22/36 | 14.5% | 9.8% | 7.7% | +1.3 ppsince 2015 | — | — | — | |
| Real interest rateReal interest rate, % | 7.7%2025 | 38/136 | 13/36 | 4.9% | 3.5% | 2.2% | +4.0 ppsince 2015 | — | — | — | |
| Exchange rateOfficial exchange rate, local currency per US$ | 17.892025 | 97/210 | 42/47 | 6.94 | 7.32 | 16.46 | +40%since 2015 | — | — | — | |
| Tax revenueTax revenue, % of GDP | 25.9%2024 | 10/142 | 3/32 | 21.0% | 22.5% | 23.3% | +1.4 ppsince 2014 | — | 10.4% | 13.9% | |
| Government revenueGovernment revenue excluding grants, % of GDP | 29.4%2024 | 54/142 | 3/32 | 23.1% | 25.5% | 27.8% | +0.5 ppsince 2014 | — | 18.5% | 24.0% | |
| Government expenseGovernment expense, % of GDP | 33.4%2022 | 42/142 | 3/32 | 24.4% | 29.6% | 37.8% | +3.1 ppsince 2012 | — | — | 28.5% | |
| Government debtCentral government debt, % of GDP | 82.8%2024 | 13/78 | 1/15 | 39.6% | · | 75.7% | +43.1 ppsince 2000 | — | — | — | |
| External debtExternal debt stocks, % of GNI | 44.8%2024 | 58/119 | 21/43 | 17.9% | 28.2% | 52.8% | +4.7 ppsince 2014 | — | 21.3% | — | |
| Private creditDomestic credit to private sector, % of GDP | 89.4%2024 | 25/169 | 1/42 | 117.1% | 124.1% | 109.1% | −39.4 ppsince 2014 | 31.7% | 139.0% | 140.3% | |
| Broad moneyBroad money, % of GDP | 76.9%2025 | 45/146 | 4/42 | 47.4% | 68.2% | 74.0% | +9.6 ppsince 2015 | 42.6% | 167.9% | 135.7% | |
| Reserves, months of importsTotal reserves in months of imports | 6.22025 | 44/165 | 4/32 | 2.4 | 4.5 | 7.1 | +32%since 2015 | 6.1 | 9.9 | 8.6 | |
| Military spendingMilitary expenditure, % of GDP | 0.74%2025 | 133/156 | 37/45 | 1.39% | 1.00% | 0.96% | −0.3 ppsince 2015 | 1.13% | 1.87% | 2.48% |
Source: World Bank, World Development Indicators (CC BY 4.0)“·” — no value reported within two years of that date. World rank counts countries with a recent value.
Better than ten years ago
- Inflation−1.3 pp3.2% in 2025
- Reserves, months of imports+32%6.2 in 2025
Worse than ten years ago
- Government debt+43.1 pp82.8% in 2024
- External debt+4.7 pp44.8% in 2024
Only indicators where higher or lower is clearly better are rated (for example, unemployment down is better, life expectancy up is better).
neighbours
South Africa and its neighbours
Countries sharing a land border with South Africa. Latest values since 2005; the highest in each row is marked.
| Indicator | South Africa | Mozambique | Zimbabwe | Namibia | Botswana | Lesotho |
|---|---|---|---|---|---|---|
| Inflation | 3.2%2025 | 4.4%2025 | 104.7%2022 | 3.5%2025 | 2.7%2025 | 4.3%2025 |
| GDP deflator | 2.8%2025 | -1.0%2025 | 83.1%2025 | 6.1%2025 | 3.6%2025 | 3.0%2025 |
| Lending rate | 10.7%2025 | 17.5%2025 | 46.4%2025 | 11.0%2024 | 6.3%2024 | 11.2%2024 |
| Real interest rate | 7.7%2025 | 18.7%2025 | -20.1%2025 | 6.4%2024 | 4.2%2024 | 4.9%2024 |
| Exchange rate | 17.892025 | 63.912024 | 26.602025 | 17.892025 | 13.502025 | 17.892025 |
| Tax revenue | 25.9%2024 | 21.8%2024 | 7.2%2018 | 33.9%2024 | 22.4%2023 | 35.4%2024 |
| Government revenue | 29.4%2024 | 24.5%2024 | 8.1%2018 | 35.6%2024 | 28.1%2023 | 42.0%2024 |
| Government expense | 33.4%2022 | 26.0%2022 | 11.0%2018 | 36.2%2023 | 26.5%2024 | 40.2%2022 |
| Government debt | 82.8%2024 | 71.8%2024 | — | 4.7%2015 | 19.7%2023 | 3.0%2020 |