National Reserve Bank of Tonga

Slight drop in container registrations

Slight drop in container registrations

Over August, the total number of container registrations fell slightly by 9.3%. This was a result of fewer private and business container registrations indicating a slow down following the busy months in preparation for the coronation and other events. However, this is similar to monthly movements for August in previous years indicating a trend. The annual number of total container registrations, on the other hand, rose by 18.0%. This could be due to more economic activity as a result of coronation festivities and special events taking place during the year, compared to the previous year. Evidently, there has been an increase in roadside stalls and fairs which indicates an active informal sector, which is in line with the annual rise in private container registrations.

The NRBT expects imports and consequentially container registrations to generally increase in 2015/16. This is supported by liaison discussions with the transport sector which expects more imports of vehicle parts due to high demand. Additionally, on-going projects such as the construction of the St. George Palace and renovation of the Tanoa Hotel are anticipated to contribute to the rise. Spillover effects on the trade, tourism and construction sectors are also expected.