South Africa vs Zambia

South Africa vs Zambia: Government debt

Government debt: 76% of GDP in South Africa in 2024 and 100.6% of GDP in Zambia in 2025, by IMF estimates. In 2024 the value was higher in Zambia, by 49.5 percentage points, or 1.65 times that in South Africa.

% of GDP · IMF

South Africa vs Zambia: Government debtGovernment debt: 76% of GDP in South Africa in 2024 and 100.6% of GDP in Zambia in 2025, by IMF estimates. In 2024 the value was higher in Zambia, by 49.5 percentage points, or 1.65 times that in South Africa.
South AfricaZambiaIMF projection (World Economic Outlook, October 2026)

What the numbers say

  • Zambia has been higher since 2015, when it overtook South Africa.
  • The IMF projection (World Economic Outlook, October 2026) puts South Africa at 79.8% of GDP and Zambia at 56.7% of GDP in 2031.

Every year

% of GDP · IMF

YearSouth AfricaZambia
202578.4100.6
202476125.5
202373.2136.8
202270.799.5
202168.8111
202068.9140
201956.1103.3
201851.581.2
201748.666.6
201647.161.2
201545.261.9
201443.333.9
201340.425.9
201237.424.9
201134.720.8
201031.218.9
20092720.5
200824.119.2
200724.321.9
20062825
200529.675.8
200430.7129.9
200331.5159.5
200231.8180.2
200138.1210.2
200037.9261
  • 12.3Projected
IMF projection (World Economic Outlook, October 2026) · 2026–2031
YearSouth AfricaZambia
20267882.1
202778.177
202878.872.3
202979.567.2
203079.761.9
203179.856.7

Each country on its own

Good to know

  • What the government owes, as a share of the economy’s yearly output.
  • Source: IMF, World Economic Outlook, October 2026.
  • The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
  • Ranks count the 149 countries with a value in 2025, highest first.

How the layers work, where their data comes from and what they can’t tell you: Countries through time

South Africa vs Zambia

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