Drop in business containers outweighed rise in private container registrations

After a strong month in the formal distribution sector as indicated by the business container registrations, activities slowed over the month of April 2017. Business container registrations declined by 53 containers. Read more in the Container Registrations Report for April.

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Higher interbank transfers drives overall surplus

Higher interbank transfers resulted in a rise in total OET receipts for the month of April 2017 to $53.7 million, but a substantial decrease of $13.5 million (22.8%) in total OET payments was reported. Find out more in the Overseas Exchange Transactions report for April 2017.

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Reduction in receipts for family support drive remittance receipts to fall

In April 2017, total remittance receipts fell by $0.9 million to $21.5 million, representing 40% of total overseas exchange (OET) receipts. The decrease in total remittances included a 4.9% decline in private transfers. Read more in the Remittances Report for April 2017.

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Monthly Economic Review for April

The Reserve Bank’s outlook for strong domestic economic activity remains in the medium term. The level of foreign reserves is also expected to remain at comfortable levels supported by expected higher receipts of remittances and foreign aid and this will be partially offset by the projected rise in imports ...

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Household loans continue driving credit growth

Total banks’ lending rose over April by $0.7 million, reaching a new high level of $391.9 million. Total bank deposits also rose by $8.3 million (1.6%) to $526.2 million in April. Find out more in the Banking Sector Developments report for April 2017.

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Taxis and rentals registrations drive total vehicle registrations

Vehicle registrations slightly rose over the month by 17 registrations (5.9%). This was due to an increase in taxi and rental registrations of 17 vehicles (73.9%). Registrations are projected to increase firmly in the near term. Read more in the Vehicle Registration report for April 2017.

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Drop in cassava exports drive total agricultural exports lower

The total agricultural exports volume slightly declined over the month of April by 45.6 tonnes (7.8%). This was largely driven by a 66.0 tonnes (22.6%) decline in the exports of cassava. Read more in the Agricultural Exports Volumes report for April 2017.

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Imported food and fuel prices drive headline inflation higher

The annual headline inflation in April 2017 rose significantly by 9.5%, similar to the annual headline inflation recorded in the previous month. The same period in 2016 recorded an annual deflation of 0.9%. Read more in the Inflation report for April 2017.

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Family support transfers fuel higher remittance receipts

Total remittance receipts for the month of March 2017 rose by $3.8 million (20.6%) to $22.42 million. All categories of remittances rose with private transfers rising the most by $3.7 million (21.0%) to $21.16 million. Read more in the Remittances Report for March 2017.

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Lending by banks continue to grow

Total banks’ lending reached a new record high of $391.2 million at the end of March 2017. Total bank deposits fell over the month by $6.4 million (1.2%) to $517.9 million. Find out more in the Banking Sector Developments report for March 2017.

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Overall deficit widened mainly on higher import payments

Total OET receipts for the month of March 2017 rose by $4.7 million (10.5%) to $49.4 million. Total OET payments rose by $13.2 million (28.7%) in March 2017 to $59.0 million. Find out more in the Overseas Exchange Transactions report for March 2017.

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Lower financial account receipts leads to overall balance deficit

Lower OET receipts were reported for the month of February 2017, as it declined by $12.7 million to $44.8 million, while total OET payments increases by $3.1 million. Find out more in the Overseas Exchange Transactions report for February 2017.

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Low inflation rates in March 2016 drove higher rates in 2017

The annual headline inflation edged higher in March 2017 by 9.4% compared to a 1.4% inflation rate in March 2016. This was due to the very low level of imported prices in March 2016, which recorded a negative 6.3%. Read more in the Inflation report for March 2017.

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Less air arrival visitors driving total arrivals lower

Total international arrivals continued to trend lower in February as it declined by 598 passengers. Air arrivals decreased the most by 2,045 passengers driven by 1,630 decrease in returning residents. Read more in the International Arrivals and Departures report for February.

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Annual imported food prices rose sharply over the month

The annual headline inflation rose significantly in February 2017 by 8.9% compared to a 0.3% deflation in February 2016. Key factors that helped to drive the annual inflation rate higher included the new custom duties and excise taxes. Read more in the Inflation report for February 2017.

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Visitors’ arrivals slow after the busy Christmas period

The total number of international arrivals fell by 6,316 passengers over the month due to a significant decline in air arrivals by 3,344 passengers. Additionally, sea arrival passengers also decreased by 2,972 passengers. Read more in the International Arrivals and Departures report for January.

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Credit growth continues to reach new levels

Total banks’ lending rose to another new record high of $384.5 million in February. However, Total bank deposits decreased over February by $3.4 million (0.7%) to $524.3 million. Find out more in the Banking Sector Developments report for February 2017.

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New Year begins with continued growth in deposits

Total banks’ lending continued to rise in the New Year. Lending reached a new high level of $382.2 million in January. Total bank deposits also increased over January by $12.7 million. Find out more in the Banking Sector Developments report for January 2017.

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Strong growth in deposits and loans continue

As expected, lending growth grew over December. This was driven largely by both the business and household sectors whom were likely preparing for the festive season and New Year. Find out more in the Banking Sector Developments report for December 2016.

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Lower transfer receipts lowered the overall surplus

January 2017 recorded a decline in total OET receipts by $34.8 million (37.7%) to $57.5 million. Total OET payments also fell by $8.4 million (16.4%) to $42.8 million. Find out more in the Overseas Exchange Transactions report for January 2017.

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A slight drop in private container registrations

Despite the increase in business container registrations in March 2017, it was outweighed by a decrease in private container registrations. Total container registrations fell by 21 containers (2.4%) over the month. Read more in the Container Registrations Report for March.

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