South Africa recorded a Government Budget deficit equal to 5 percent of the country's Gross Domestic Product in 2024. This dataset provides - South Africa Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about South Africa Consolidated Fiscal Balance: % of GDP

• South Africa Consolidated Fiscal Balance recorded a deficit equal to 4.4 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 4.5 % in the previous quarter
• South Africa Consolidated Fiscal Balance to GDP data is updated quarterly, available from Dec 1990 to Dec 2024, with an average ratio of -4.1 %
• The data reached an all-time high of 1.0 % in Jun 2008 and a record low of -9.8 % in Mar 2021

• In the latest reports, South Africa National Government Debt reached 300.2 USD bn in Dec 2024
• South Africa Nominal GDP reached 95.9 USD bn in Mar 2023

As of April 2025, South Africa's GDP was estimated at over 410 billion U.S. dollars, the highest in Africa. Egypt followed, with a GDP worth around 347 billion U.S. dollars, and ranked as the second-highest on the continent. Algeria ranked third, with nearly 269 billion U.S. dollars. These African economies are among some of the fastest-growing economies worldwide. Dependency on oil For some African countries, the oil industry represents an enormous source of income. In Nigeria, oil generates over five percent of the country’s GDP in the third quarter of 2023. However, economies such as the Libyan, Algerian, or Angolan are even much more dependent on the oil sector. In Libya, for instance, oil rents account for over 40 percent of the GDP. Indeed, Libya is one of the economies most dependent on oil worldwide. Similarly, oil represents for some of Africa’s largest economies a substantial source of export value. The giants do not make the ranking Most of Africa’s largest economies do not appear in the leading ten African countries for GDP per capita. The GDP per capita is calculated by dividing a country’s GDP by its population. Therefore, a populated country with a low total GDP will have a low GDP per capita, while a small rich nation has a high GDP per capita. For instance, South Africa has Africa’s highest GDP, but also counts the sixth-largest population, so wealth has to be divided into its big population. The GDP per capita also indicates how a country’s wealth reaches each of its citizens. In Africa, Seychelles has the greatest GDP per capita.

As of 2023, Algeria had the highest defense spending budget in Africa, around 10 billion U.S. dollars. The country ranked 24th in the world. Egypt and Libya followed, with a budget of roughly 4.4 billion and 3.6 billion U.S. dollars, respectively. Overall, North Africa was the region allocating the largest budget to national defense on the continent.

The Algerian military power

As the leading defense spender in Africa, Algeria devotes nearly five percent of its GDP to military expenditure, the second-highest share on the continent. In addition, the Algerian government's military spending per capita ranked second in Africa after Botswana, reaching 201.7 U.S. dollars in 2022. These heavy investments aimed at improving Algeria’s national security, as well as supporting the country’s military force, concentrated in the People’s National Armed Forces. Due to the high public expenditure, Algeria has the second most powerful army in Africa after Egypt.

Seeking national security in Africa

Internal conflicts caused by political instability and terrorism determined the need for many African countries to improve their military strength. However, despite the general increment in the total military expenditure on the continent in recent years, Africa only accounts for around two percent of the global military spending. North Africa is the region that has been focusing the most on developing its military industry, leading to an actual arms race. Especially Algeria, Egypt, and Morocco have been expanding their armed forces by increasing the imports of arms and military equipment.

Key information about South Africa Government Debt: % of GDP

• South Africa Government debt accounted for 75.1 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 74.6 % in the previous quarter.
• South Africa government debt to GDP ratio data is updated quarterly, available from Dec 1960 to Sep 2024.
• The data reached an all-time high of 75.1 % in Sep 2024 and a record low of 23.5 % in Sep 2008.

• In the latest reports, South Africa National Government Debt reached 310.9 USD bn in Oct 2024.
• The country's Nominal GDP reached 95.9 USD bn in Mar 2023.

South Africa Hospitality Market size was valued at USD 11.27 Billion in 2024 and is projected to reach USD 19.80 Billion by 2032, growing at a CAGR of 7.3% during the forecasted period 2026 to 2032.

​The South African hospitality market is experiencing growth driven by several key factors. The government's implementation of visa reforms, including a points-based system for work visas and a remote work visa, aims to attract skilled workers and tourists, thereby stimulating economic growth. Additionally, significant investments by commercial property companies, such as Growthpoint Properties and Attacq, totaling billions of rand, are enhancing mixed-use developments to meet the rising demand for residential and commercial spaces. The country's rich cultural heritage and diverse attractions continue to draw international tourists, further bolstering the hospitality sector. Moreover, technological advancements and innovative services are reshaping the industry, with initiatives like Uber Safari offering unique experiences that cater to evolving traveler preferences. Collectively, these elements contribute to the dynamic expansion of South Africa's hospitality market.

Military Expenditure in South Africa decreased to 2836 USD Million in 2024 from 2876.50 USD Million in 2023. South Africa Military Expenditure - values, historical data, forecasts and news - updated on August of 2025.

Egypt recorded Africa's highest gross domestic expenditure on research and development (GERD). The country's GERD was **** billion U.S. dollars in 2022, which dropped from *** billion U.S dollars in the prior year. Moreover, South Africa had the second largest value of GERD, reaching *** billion U.S. dollars in 2022. The same year, Algeria and Kenya ranked third and fourth with **** billion and **** billion U.S. dollars, respectively.

Contrary to trends in the U.S. or Europe, where the lion’s share of ad budgets is focused on internet and TV marketing, between 2018 and 2020 the majority of advertising dollars in Nigeria will be devoted to TV and video promotion. In developed markets internet advertising expenditures are expected to surpass TV, however, in Nigeria TV advertising is and will remain strong in the near future. The second most popular ad medium in the country is out-of-home, which is also projected to grow in the three years. Internet is ranked third based on advertising spending. Advertising market in Nigeria   
Mobile phone services were the largest advertising category in Nigeria in 2017, which is not surprising as the country relies largely on mobile communications. Personal classifieds and corporate communications, banking and finance and cable TV closed the list of top five advertising categories in Nigeria. Consequently, MTN, Airtel and Globalcom (all telecommunications companies) ranked second, third and fifth respectively based on their advertising expenditures in the country. The largest advertiser in Nigeria in 2017 was Sundry Food Services, a parent of several restaurant brands.
Nigerian advertising compared to other African countries    Nigeria is one of the largest advertising markets in Africa: in 2017 Nigerian ad revenue reached *** million U.S. dollars. The only two countries that generated more in ad revenues that year were South Africa and Morocco – *** billion U.S. dollars and *** million respectively. However, markets such as Algeria, Kenya, Ghana, Tanzania and Tunisia all ranked below Nigeria’s results.