Latest News
|
Foreign Reserves rose by $11.4 million over November
11 December 2018
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $11.4 million over the month of November 2018 to $468.7 million, equivalent to 7.4 months of imports. Similarly, the official foreign reserves increased over the year by $43.9 million. |
|
Joint statement from the South Pacific Governor's Meeting
30 November 2018
The Central Bank Governors of the South Pacific region met in Samoa on the occasion of the 33rd Pacific Central Bank Governors' meeting. The meeting's theme was ‘Strengthening Collaboration’, with the objective of promoting the prosperity and economic welfare of our member nations. |
|
Foreign Reserves rose by $5.1 million over October
12 November 2018
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $5.1 million over the month of October 2018 to $457.3 million, equivalent to 7.3 months of imports. |
|
Foreign Exchange Control Directive effective 1st November 2018
8 November 2018
To implement the requirements of the Foreign Exchange Control Act 2018, the Reserve Bank in accordance with sections 6(2) and 32 of the Foreign Exchange Control Act 2018, prescribes the exchange control requirements in a Directive referred to as the Exchange Control Directive. |
| - Also read in Tongan |
|
Statement by IMF Deputy Managing Director Tao Zhang on His Visit to the Kingdom of Tonga
18 October 2018
Mr. Tao Zhang, Deputy Managing Director of the International Monetary Fund (IMF), visited the Kingdom of Tonga between October 16-18, 2018, where he met with Prime Minister Hon. Samuela ‘Akilisi Pohiva, Minister of Commerce, Consumer, Trade, Innovation and Labor Hon. Dr. Tevita Tu’i Uata, National Reserve Bank Governor Sione Ngongo Kioa, senior officials, members of the diplomatic community and non-government organizations in Nuku’alofa. |
|
Reserve Bank recorded a $22.8 million decline of the Foreign Reserves
9 October 2018
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $22.8 million over the month of September 2018 to $452.2 million, equivalent to 7.3 months of imports. The commencement of the principal repayment to the ExportImport (EXIM) Bank of China contributed to this decline. |
|
Monetary Policy Decision - September 2018
21 September 2018
The National Reserve Bank of Tonga’s board of directors at its meeting on the 18th September 2018 approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending, particularly to the growth sectors, in order to support economic growth and the recovery from Tropical Cyclone Gita, and strengthen the monetary policy transmission mechanism. |
| - Also read in Tongan |
|
Monetary Policy Statement - February 2018
19 September 2018
At its meeting on the 18th September 2018, the National Reserve Bank of Tonga’s Board of Directors approved to release its Monetary Policy Statement (MPS) for February 2018. This Statement reviews Tonga’s economic growth and the Reserve Bank’s conduct of monetary policy in the six months to February 2018 and its outlook. |
|
Foreign Reserves recorded a $1.5 million over August 2018
11 September 2018
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $1.5 million over the month of August 2018 to $475.0 million, equivalent to 7.7 months of imports. Over the past year, the official foreign reserves rose by $70 million. The annual growth was mainly attributed to receipts of budgetary support, grants and cyclone relief funds from development partners and higher remittances during the year. |
|
New Foreign Exchange Control Act 2018 comes into force on 10th July 2018
6 September 2018
To ensure Tonga’s macroeconomic stability, the country’s level of foreign exchange reserves must be sufficient at all times to pay for our overseas payment obligations (such as payment of imports, loan repayments and other foreign obligations).
|
| - Also read in Tongan |
|
| See more Press Releases |
|
Latest Economic & Statistic Releases
|
Summary Daily Liquidity Data for 7 December 2018
Released on 10 December 2018 |
|
Customs Monthly Exchange Rates for December 2018
Released on 30 November 2018 |
|
Weekly Exchange Rates and Fees & Charges Comparison for 23 November 2018
Released on 23 November 2018 |
|
Weekly Exchange Rate for 23 November 2018
Released on 23 November 2018 |
|
August remittances remain above $30 million
Remittances for August 2018 | Released on 23 November 2018
Over August 2018, total remittances increased by $1.5 million (4.9%) to $31.6 million. This mainly reflects the higher receipts from families abroad for church contributions, funeral expenses, and support towards other family and household matters. |
|
Overall OET balance remains in surplus following the hike in June
Overseas Exchange Transactions for July 2018 | Released on 23 November 2018
Over the month of July 2018, the balance of the overall OET recorded a lower surplus of $7.7 million following the high surplus recorded last month. Over the year, the overall OET surplus balance rose by $26.1 million to $67.6 million.
|
|
Monetary Policy Data for September 2018
Released on 12 November 2018 |
|
Monthly Economic Review for August 2018
Released on 11 October 2018
Sectoral performances in the local economy were mixed over the month. Total agricultural export volumes rose by 432.5 tonnes, reflecting the commencement of the squash season and higher export of root crops. On-going construction activities continued to boost performance in the secondary sector, supported by a rise in business loans for construction and individual housing loans. |
|
Exported Aquarium trends favourably over the month
Marine Exports Volumes for June 2018 | Released on 5 October 2018
The Reserve Bank expects continues to expect that the volume of fisheries export to decline in the near term due to less foreign vessels with higher operation capacity which are available to fish the Tongan waters.
|
|
Decline in taxi, rental and cars registrations pushed total vehicle registrations lower
Vehicle Registration for June 2018 | Released on 5 October 2018
The total vehicle registrations declined over the month of June by 90 registrations (23.0%), recording a total of 301 registrations. This is higher than the monthly average of 231 vehicles in the past five years.
|
|
Root crops and vegetables drove the monthly decline
Agricultural Exports Volumes for June 2018 | Released on 5 October 2018
The total volume of agricultural exports declined over the month by 39.3 tonnes (8.3%) due to the seaonality of local produce and the damages of cyclone Gita on root crops in February 2018.
|
|
Lower prices in the base year pushed the headline inflation upward
Inflation for July 2018 | Released on 12 September 2018
The monthly headline inflation rate continued to decline over the month of July 2018 by 0.1% following a negative 2.5% in June 2018. This was largely attributed to favorable movements in the prices of both local and imported food over the month which outweighed a rise in various imported commodities.
|
|
Quarterly Bulletin for June 2018
Released on 11 September 2018 |
|
Total container registrations remained high over the month
Container Registrations for June 2018 | Released on 7 September 2018
As a partial indicator for the trade sector, the number of containers indicated strong trade activites over the month as it remained high. The total container registrations slightly declined over the month by 22 containers (2.1%) driven by a 3.8% and 0.5% fall in private and business containers respectively. |
|
Lending slows down while deposits continue to climb higher
Banking Sector Developments for June 2018 | Released on 7 September 2018
Total banks’ lending slightly declined over June bringing the total outstanding loan balance to $447.3 million. Higher bank deposits were recorded over June and over the year which resulted mainly from an increase in demand deposits of the Government, private sector and non-profit institutions.
|
|
Departures soar as visitors return whilst arrivals decline
International Arrival & Departures for January 2018 | Released on 26 June 2018
Total international departures climbed over January due to the end of the festive season thus visitors returning to their respective countries of residence.
|
|
| See more Economic Releases |
|
