Total banks’ lending continued to increase over the month and over the year to September 2017 to a new record level of $417.0 million. This was driven by more lending to households, offsetting a decline in lending to businesses. Read more in the Banking Sector Developments report for August 2017.

The total container registrations declined over the month by 96 containers (8.1%) to 1,093 registrations. This is higher than the average number of containers recorded in the same period of the past 5 years. Read more in the Container Registrations Report for September.

The total container registrations rose over the month by 377 containers (46.4%) to a higher level than any other month of 2017. Both private and business containers increased by 194 (56.6%) and 183 containers (39.0%) respectively. Read more in the Container Registrations Report for August.

The total number of vehicle registrations for September 2017 declined by 63 vehicles (34.1%) to 311 registrations, compared with the 374 totals of registrations recorded last month. Read more in the Vehicle Registration report for September.

The total marine exports in August 2017 slightly declined by 19.9 metric tonnes (6.8%) driven by lower exports of both tuna and snapper which fell by 25.7 metric tonnes and 1.2 metric tonnes respectively. Read more in the Marine Exports Volume for August 2017.

The agricultural export proceeds received during the month rose by $0.6 million to $0.9 million reflecting the receipts for squash exports, a total of $0.4 million. Read more in the Agricultural Exports Volumes report for August.

Total banks’ lending increased considerably over August to yet again a new record level of $415.6 million. Total bank deposits grew strongly over August by $18.6 million (3.5%) to $552.4 million. Read more in the Banking Sector Developments report for August 2017.

The total marine exports as a partial indicator of the fisheries sector indicated a strong start for the sector in 2017/18. Despite the total exported marine products declining by 104.7 metric tons (26.3%) over the month, it remained favourable when compared to the same month of the past 5 years. Read more in the Marine Exports Volume for July 2017.

Total banks’ lending rose over the month of July and over the year to a new record high of $407.1 million, exceeding yet again the level that was set last month. Total bank deposits fell over the month to July by $3.0 million (0.5%) to $533.8 million. Read more in the Banking Sector Developments report for July 2017.

The total international arrivals increased further over the month by 2,101 (18.2%) passengers, of which 78.7% were visitors and the remainder were returning residents. Read more in the International Arrivals and Departures report for September 2017.

The total international arrivals increased over the month by 1,812 passengers (18.7%), of which 73.3% were visitors and the remainder were returning residents. This partial indicator signalled improvement in the tourism industry in August 2017. Read more in the International Arrivals and Departures report for August 2017.

Total international arrivals declined by 2,076 (17.6%) during the month to a total of 9,711 passengers. This is a typical trend when there are no cruise ships visiting Tonga during the month. Read more in the International Arrivals and Departures report for July 2017.

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. This will be partially offset by the projected rise in imports.

In August 2017, the total OET receipts rose by $7.0 million (11.3%) to $69.2 million. This was largely owing to higher receipts from overseas banks to fund their local accounts as well as receipts of Government budgetary support. Find out more in the Overseas Exchange Transactions report for August 2017.

Remittance receipts reached $28.4 million in August 2017, 11.6% higher than the previous month. Total private transfers which accounts for around 90% of the total remittances, drove the overall increase in remittances during the month. Read more in the Remittances Report for August 2017.

The total number of new vehicles registered over the month of August 2017 increased to 374 registrations, 95 registrations higher compared to previous month. Higher registration of cars drove the monthly growth, as registrations increased by 55 cars. Read more in the Vehicle Registration report for August.

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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