Liabilities, Insurance Technical Reserves (OFCS) in South Africa
South Africa: Liabilities, Insurance Technical Reserves (OFCS) was 10.22 trillion in 2024. ◆ Volatile
Liabilities, Insurance Technical Reserves (OFCS) in South Africa, 2001–2024
Source: International Monetary Fund.
Analysis
South Africa recorded 10.22 trillion for liabilities, insurance technical reserves (ofcs) in 2024. That is the highest value across all 24 years on record.
The figure is up 9.5% on the previous year and up 83.6% over ten years.
Over the whole period, liabilities, insurance technical reserves (ofcs) in South Africa peaked at 10.22 trillion in 2024 and was at its lowest, 1.32 trillion, in 2001.
South Africa ranks 10th of 65 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Liabilities, Insurance Technical Reserves (OFCS) in South Africa, year by year
| Year | Value | Change |
|---|---|---|
| 2001 | 1.32 trillion | — |
| 2002 | 1.36 trillion | +2.5% |
| 2003 | 1.47 trillion | +8.7% |
| 2004 | 1.69 trillion | +14.5% |
| 2005 | 2.01 trillion | +18.9% |
| 2006 | 2.39 trillion | +19.2% |
| 2007 | 2.70 trillion | +12.7% |
| 2008 | 2.57 trillion | -4.6% |
| 2009 | 2.82 trillion | +9.7% |
| 2010 | 3.56 trillion | +26.0% |
| 2011 | 3.77 trillion | +5.9% |
| 2012 | 4.37 trillion | +16.0% |
| 2013 | 5.05 trillion | +15.6% |
| 2014 | 5.57 trillion | +10.1% |
| 2015 | 5.92 trillion | +6.3% |
| 2016 | 6.08 trillion | +2.8% |
| 2017 | 6.76 trillion | +11.1% |
| 2018 | 6.57 trillion | -2.7% |
| 2019 | 7.02 trillion | +6.7% |
| 2020 | 6.71 trillion | -4.4% |
| 2021 | 8.58 trillion | +28.0% |
| 2022 | 8.47 trillion | -1.3% |
| 2023 | 9.33 trillion | +10.1% |
| 2024 | 10.22 trillion | +9.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 2.04 trillion | 1.32 trillion | 2.82 trillion | 9 |
| 2010s | 5.47 trillion | 3.56 trillion | 7.02 trillion | 10 |
| 2020s | 8.66 trillion | 6.71 trillion | 10.22 trillion | 5 |
Countries ranked near South Africa
- 7 Nigeria 27.45 trillion compare
- 8 Argentina 16.69 trillion compare
- 9 Costa Rica 12.12 trillion compare
- 11 Russian Federation 6.49 trillion compare
- 12 Uzbekistan 6.40 trillion compare
- 13 Thailand 6.06 trillion compare
More external debt data for South Africa
- IFC, private nonguaranteed -15.41 million NFL, US$ (2024)
- IFC, private nonguaranteed (NFL, US$), per capita -0.2407 NFL, US$ per person (2024)
- IFC, private nonguaranteed (NFL, US$), per unit of GDP -0 NFL, US$ per US$ of GDP (2024)
- IFC, private nonguaranteed (NFL, US$), per square kilometre 444.22 NFL, US$ per square kilometre (2023)
- Public and publicly guaranteed debt service 2.3% (2024)
- Net financial flows, IBRD 910.75 million NFL, current US$ (2024)
- Public and publicly guaranteed debt service 6.5% (2024)
- Net financial flows, IBRD (NFL, current US$), annual growth rate -109.7 % change on previous year (2023)
- Other investment, Debt instruments 53.54 billion US dollar (2025)
- Use of IMF credit 7.63 billion DOD, current US$ (2024)
Frequently asked questions
- What is liabilities, insurance technical reserves (ofcs) in South Africa?
- Liabilities, insurance technical reserves (ofcs) in South Africa was 10.22 trillion in 2024, according to International Monetary Fund.
- What is the highest liabilities, insurance technical reserves (ofcs) recorded in South Africa?
- The highest recorded value was 10.22 trillion in 2024.
- What is the lowest liabilities, insurance technical reserves (ofcs) recorded in South Africa?
- The lowest recorded value was 1.32 trillion in 2001.
- How does South Africa rank for liabilities, insurance technical reserves (ofcs)?
- South Africa ranks 10th out of 65 countries with data for 2024.
- Is liabilities, insurance technical reserves (ofcs) rising or falling in South Africa?
- Over the last ten years it is up 83.6%. The long-run trend across the full record is volatile.
- Where does this South Africa data come from?
- The figures come from International Monetary Fund, published as part of Liabilities, Insurance Technical Reserves (OFCS) (Domestic currency). Statizoid updates them automatically from the source API.
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About this data
The Monetary and Financial Statistics (MFS), Other Financial Corporations (OFCs) dataset presents the balance sheet of OFCs highlighting their financial linkages with other economic sectors and nonresidents.