Economic Releases for 2019
- Category: Economic Releases
Developments amongst Tonga’s major trading partners remained relatively stable over November.
- Category: Economic Releases
The total container registrations declined over the month by 68 containers (6.2%) to 1,025 registrations. Container registrations remained higher than the average number of containers recorded in the same month of the past 5 years. Read more in the Container Registrations Report for October.
- Category: Economic Releases
The annual headline inflation increased by 5.8% in September 2017 as projected. This is higher than a 5.5% reported in August 2017 however lower than 7.0% in September 2016. The continuous rise in annual inflation rate was due to higher prices of imported goods. Read more in the Inflation report for September 2017.
- Category: Economic Releases
The total OET receipts for September 2017 declined by $10.4 million (15.1%) to $58.8 million. Lower transfer receipts’ mainly private transfers and lower services receipts drove this monthly decline. Find out more in the Overseas Exchange Transactions report for September 2017.
- Category: Economic Releases
Remittance receipts decline to around $26 million in September 2017, 8.5% lower than the previous month. Total private transfers (particularly family support) drove the overall decrease, followed by a decline in receipts from social benefits. Read more in the Remittances Report for September 2017.
- Category: Economic Releases
After three consecutive months of high volume in marine exports, it slowed over the month. Total exported marine products1 fell by 177.5 metric tons (64.8%) during the month. The marine exports for the month was also higher than what was recorded in May Read more in the Marine Exports Volume for September 2017.
- Category: Economic Releases
The total agricultural exports rose by 329.0 tonnes (36.7%) to a total of 1,226.2 tonnes largely due to the squash season which started last month. Total squash exports over the month increased by 409.9 tonnes to a total of 538.6 tonnes. Read more in the Agricultural Exports Volumes report for September.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
The annual headline inflation slowed to 7.1% in July 2017, following a peak of 10.3% annually in June 2017. The decline over the month largely reflected the wind down of the hike in prices last year when the new excise tax became effective in July 2016 Read more in the Inflation report for July 2017.
- Category: Economic Releases
A total of 812 containers was registered during the month and majority were business containers. The total registrations declined by 205 containers (20.2%), a trend expected for July following the celebratory months of May and June. Read more in the Container Registrations Report for July.
- Category: Economic Releases
The total number of new vehicles registered over the month of July 2017 fell to 279 registrations, 21 registrations (7.0%) lower compared to previous month. This was driven by lower registrations in light vehicles, which declined by 33 registrations. Read more in the Vehicle Registration report for July.
- Category: Economic Releases
Total OET receipts for July 2017 decreased by $24.0 million, however, it remained high at $62.2 million. This was mainly driven by a decrease in official transfer receipts, mainly grants for technical assistance and other current expenditures. Find out more in the Overseas Exchange Transactions report for July 2017.
- Category: Economic Releases
Total OET receipts for the month of June 2017 rose by $86.1 million mainly driven by an increase in official transfers. Total OET payments continued to increase to $67.3 million attributed mainly to higher import and primary income payments. Find out more in the Overseas Exchange Transactions report for June 2017.
- Category: Economic Releases
Total remittance receipts for the month of July 2017 decreased to $25.6 million, 4.1% lower than the previous month. All categories of remittances declined over the month with private transfer receipts decreasing the most. Read more in the Remittances Report for July 2017.
- Category: Economic Releases
Total remittance receipts fell by 6.9% to $26.5 million, although are anticipated to remain at high levels in the upcoming month due to the Heilala festivities, Agricultural show and other events. Read more in the Remittances Report for June 2017.
- Category: Economic Releases
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.
- Category: Economic Releases
Although container registrations slightly declined by 4.2% in June 2017, it still remained high at a total of 1017 containers compared to 932 containers in June 2016. Private and business containers fell by 35 and 10 containers respectively. Read more in the Container Registrations Report for June.
- Category: Economic Releases
The total agricultural exports declined by 49.0 tonnes (6.1%) over the month largely attributed to no watermelon exports during the month compared to the 93.0 tonnes exported in the previous month. Read more in the Agricultural Exports Volumes report for June.
- Category: Economic Releases
Total international arrivals increased further in June to a total of 11,787 passengers, 72.9% were visitors and the remainder were returning residents. Read more in the International Arrivals and Departures report for June 2017.
- Category: Economic Releases
The total international departures increased by 2,417 passengers (36.2%) to 9,096 passengers, in line with the increase in international arrivals, and 6,261 passengers (68.8%) were non-Tongan passport holders. Read more in the International Arrivals and Departures report for May 2017.
- Category: Economic Releases
Total banks’ lending rose to a new record high of $404.5 million, surpassing the level set last month. Total bank deposits continued to increase recording a $2.9 million (0.5%) rise to $536.8 million in June. Read more in the Banking Sector Developments report for June 2017.
- Category: Economic Releases
Over the month to June 2017, the total number of vehicle registrations fell by 45. This is similar compared to the movement recorded in June 2016. The major decline in taxis & rental vehicles registrations by 21 during the month was the main cause. Read more in the Vehicle Registration report for June.
- Category: Economic Releases
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.
- Category: Economic Releases
The total exported marine products recorded a major decline over the month of May 2017 by 264.4 metric tons (87.9%). This was mainly driven by a significant decrease in the volume of tuna and snapper exports Read more in the Marine Exports Volume for May 2017.
- Category: Economic Releases
Remittance receipts rose by $7.0 million (32.4%) over the month, representing 40% of the total overseas exchange transaction (OET) receipts. All categories of remittances rose over the month with the exception of social benefits. Read more in the Remittances Report for May 2017.
- Category: Economic Releases
Total OET receipts for the month of May 2017 rose by $17.5 million to $71.2 million attributed mainly to large inflows of foreign aid. Total OET payments for May 2017 rose by $9.4 million (20.7%) to $55.0 million. Find out more in the Overseas Exchange Transactions report for May 2017.
- Category: Economic Releases
Total international arrivals continued to decline over the month by 1,459 passengers (17.2%). This was mainly due to no cruise ship arriving during the month. Read more in the International Arrivals and Departures report for April 2017.
- Category: Economic Releases
The total exported marine product increased in April by 139.8 metric tons (86.9%) to a high level of 300.8 metric tons. This was due to a significant increase in exports of both tuna and snapper. Read more in the Marine Exports Volume for April 2017.
- Category: Economic Releases
Total international arrivals continued to trend lower in March as it declined by 920 passengers. This was solely driven by the decline in total air arrivals by 1,127 passengers. Read more in the International Arrivals and Departures report for March 2017.
- Category: Economic Releases
The annual headline inflation edged higher in June 2017 rising by 10.3%. This is the highest level of annual headline inflation since the inflation rate picked up in July 2016. The same period in 2016 recorded a very low annual inflation of 0.1%. Read more in the Inflation report for June 2017.
- Category: Economic Releases
The annual headline inflation in May 2017 rose significantly by 10.0%. This is the highest level of annual headline inflation since the inflation rate picked up in July 2016. The same period in 2016 recorded an annual deflation of 1.0%. Read more in the Inflation report for May 2017.
- Category: Economic Releases
Total banks’ lending climbed over the month and over the year to a new record high of $397.7 million mainly by housing loans. Total bank deposits also rose by $7.7 million in May. Find out more in the Banking Sector Developments report for May 2017.
- Category: Economic Releases
The month of May recorded good harvest of root crops, the highest contributor to the overall increase in agricultural exports. The agricultural exports rose by 262.9 tonnes, led by 161.9 tonnes increase in exported root crops. Read more in the Agricultural Exports Volumes report for May.
- Category: Economic Releases
It is a typical trend for container registrations to increase in May given the events scheduled for the month especially the annual church conferences and spending on special Sundays given that May is known as the family month in Tonga. Read more in the Container Registrations Report for May.
- Category: Economic Releases
Vehicle registrations slightly rose over the month by 39 registrations. This was due to an increase in private vehicle registrations. Cars increased the most by 30 registrations, followed by light vehicles with 16 registrations. Read more in the Vehicle Registration report for May.
- Category: Economic Releases
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 ...
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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 ...
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
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.
- Category: Economic Releases
Total OET receipts reached a record high level of $92.3 million in December 2016, while Total OET payments declined slightly in December 2016 by $0.3 million (0.5%) to $51.2 million. You can find out more in the Overseas Exchange Transactions report for December 2016.
- Category: Economic Releases
Container registrations increased over the month by 243 (37.6%) to 890 containers. Both private and business containers rose by 214 (80.5%) and 29 (7.6%) containers respectively. Read more in the Container Registrations Report for February.
- Category: Economic Releases
Lower OET receipts were reported for the month of November, as it declined by $9.5 million to $51.8 million. Total OET payments fell in November by $0.8 million to $51.5 million. You can find out more in the Overseas Exchange Transactions report for November 2016.
- Category: Economic Releases
Container registrations decreased over the month after three consecutive months of constant increase, a similar trend to previous years. The total number of container registrations decreased by 612 to 647 containers. Read more in the Container Registrations Report for January.
- Category: Economic Releases
Total exported marine products for March fell by 77.1 metric tons (32.4%) to 161.0 tonnes with total aquarium exports continued to decline over the month by 3,690 pieces (39.8%) driven by lower exports of all aquarium products except live fish. Read more in the Marine Exports Volume for March 2017.
- Category: Economic Releases
The export of tuna drove the monthly increase in marine products by 6.3% while aquarium exports declined over the month by 26.1% driven by lower exports of all aquarium products except live hard coral. Read more in the Marine Exports Volume for February 2017.
- Category: Economic Releases
Exported marine products slightly declined over the month by 17.9 tonnes, while aquarium exports increased by 2,309 pieces, which were attributed to an increase in invertebrate, live fish, and soft coral. Read more in the Marine Exports Volume for January 2017.
- Category: Economic Releases
The total agricultural exports volume continued to increase over the month of March by 176.0 tonnes (43.2%). This was largely driven by the increase in the export of crops that are in season. Read more in the Agricultural Exports Volumes Report for March.
- Category: Economic Releases
The agricultural exports bounced back in February after a very low month. Total agricultural exports rose by 188.8 tonnes (86.5%) to 407.1 tonnes driven by a 155.5 tonnes (89.8%) increase in the export of root crops. Read more in the Agricultural Exports Volumes Report for February.
- Category: Economic Releases
After a favourable squash season towards the end of 2016, January 2017 started with a sluggish growth in agricultural exports. This is a similar trend to previous years with the total volume declined by 367.2 tonnes. Read more in the Agricultural Exports Volumes Report for January.
- Category: Economic Releases
After two consecutive months of decline in total vehicle registrations from the peak in December, vehicle registrations increased by 36 registrations (14.2%) to 289 total vehicles in March 2017. Read more in the Vehicle Registration Report for March 2017.
- Category: Economic Releases
New vehicle registrations slightly declined in February 2017 by 32 (11.2%) registrations. This was due to a decline in the registrations of the three major vehicle types which were partly offset by a rise in the other vehicle registrations. Read more in the Vehicle Registration Report for February 2017.
- Category: Economic Releases
After the peak in vehicle registrations recorded last month, new registrations dropped by 133 (31.8%) to 285 vehicles in January 2017. This was mainly driven by cars and light vehicle registrations which declined by 68 and 31 respectively. Read more in the Vehicle Registration Report for January 2017.
- Category: Economic Releases
The total number of vehicle registrations decreased in November by 20 vehicles however, registrations are projected to increase firmly in the near term, despite the expected increase in fuel prices. You can find out more in the Vehicle Registration Report for December 2016.
- Category: Economic Releases
Exported marine products slightly declined over the month by 17.9 tonnes, while aquarium exports increased by 2,309 pieces, which were attributed to an increase in invertebrate, live fish, and soft coral. Read more in the Marine Exports Volume for December 2016.
- Category: Economic Releases
December 2016 recorded the highest total container registrations for the year, a similar trend to previous years. The total number of container registrations rose by 168 (15.4%) to 1,259 containers. Read more in the Container Registrations Report for December.
- Category: Economic Releases
Total international arrivals increased significantly over the month indicating a vibrant tourism sector during the month. Majority of purpose of air arrival visitors’ trip was to visit relatives and friends. Read more in the International Arrivals and Departures report for December.
- Category: Economic Releases
The economic activities in the tourism sector slowed over the month, returning the total arrivals and departures to the monthly average. Total international arrivals fell to 7,642 passengers in November. Read more in the International Arrivals and Departures report for November.
- Category: Economic Releases
The total volume of agricultural exports in December 2016 declined to 583.3 tonnes. However, this was still above the average agricultural export of 477.7 tonnes during December for the past 4 years. Read more in the Agricultural Exports Volumes Report for December.
- Category: Economic Releases
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 ...
- Category: Economic Releases
Total remittance receipts fell by $2.6 million (12.4%) to $18.6 million in February, which resulted from a decrease in all categories of remittances except compensation of employees. Read more in the Remittances Report for February 2017.
- Category: Economic Releases
Remittance receipts during the month of January 2017 declined to $21.23 million, $8.8 million (29.3%) lower than the peak in December 2016, attributed mainly to the end of the Christmas and holiday festivities. Read more in the Remittances Report for January 2017.
- Category: Economic Releases
November 2016 recorded the highest number of container registrations for the year 2016 thus far, a total of 1091 containers. Since 2013, the container registration increased by an average of 30.8% in the month of November. Read more in the Container Registrations Report for November.
- Category: Economic Releases
In the year ended January 2017, the annual headline inflation rate rose by 5.4%. This was substantially high compared to the same period last year where the headline inflation rate fell by 1.3%. Read more in the Inflation Rate report for January 2017.
- Category: Economic Releases
The annual headline inflation rate for December rose by 6.7%, higher than the Reserve Bank’s expected headline inflation of 6.4%. This stemmed from inflation rates being at very low levels last year. Read more in the Inflation Rate report for December 2016.
- Category: Economic Releases
The total number of vehicle registrations decreased in November by 20 vehicles however, registrations are projected to increase firmly in the near term, despite the expected increase in fuel prices. You can find out more in the Vehicle Registration Report for November 2016.
- Category: Economic Releases
Remittance receipts hits a new monthly record of $30 million with a yearly record of $269.8 million in December 2016. In 2016, the monthly average for remittance was at $22.5 million. Read more in the Remittances Report for December.
- Category: Economic Releases
Remittance receipts for November 2016 declined by 4.1% ($0.9 million) to $22.3 million, which resulted from a decrease in all categories of remittances with the exception of private capital transfers. Read more in the Remittances Report for November.
