Allianz calculated that South Africa’s GDP per capita has increased to \u20ac5,350 (R85,530<\/strong>) from \u20ac4,351 in 2016, with the average among the 53 countries at \u20ac12,490<\/strong>.<\/p>\n South Africa\u2019s net financial assets per capita, is higher than other BRICS countries except for China, Allianz said.<\/p>\n However, its net financial assets of households grew by only 5.3% \u2013 one of the slowest rates among the BRICS countries, which is also below the average of advanced markets.<\/p>\n “The growth of liabilities slowed down to 3.2% as South African households continued to show some debt discipline. This has resulted in the debt ratio falling below 45% for the first time in ten years,” the financial services company said.<\/p>\n Even though the country\u2019s households have trimmed their debt ratio by 10% over the last decade, its overall level remains elevated, and higher than the emerging market average of around 35%.<\/p>\n Allianz pointed out that the country\u2019s relatively high average wealth has to be taken with a pinch of salt, as it is one of the countries where wealth is unevenly distributed.<\/p>\n More than 70% of all net financial assets are owned by 10% of the population at the top of the wealth distribution. Globally, only the US displays a higher share of wealth, while the global average is about 53%, it said.<\/p>\n Net per capita financial assets vs gross per capita financial assets:<\/strong><\/p>\n
![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2017\/09\/Allianz.png\")
<\/a><\/p>\n