October 2016 | Released on 4 April 2017
|Oct 16||Sep 16||Aug 16||Jul 16|
Higher private container registrations recorded over October
The total number of container registrations slightly declined over the month by 4 registrations (0.5%) despite an additional cargo ship arriving in October 2016 compared to the previous month. This was due to a fall in the registration of private containers by 44 registrations (10.9%), offsetting an increase of 40 registrations in business containers. However, the total number of containers registered in October 2016 is still much higher than the number of containers registered in October 2015.
The NRBT expects imports and consequently container registrations to generally increase in 2016/17 due to festivities scheduled for this financial year including the Church of Jesus Christ Latter Day Saints centennial celebration, annual church conferences, one-off events such as family reunions and other on-going activities in the country. Strong credit growth is projected to continue in 2016/17 which will support growth in imports. Furthermore, NRBT’s liaisons with the construction and transport sectors had indicated growing demand in these sectors which will drive imports in the near future. On-going projects such as the construction of the St. George Palace, LDS chapels and new private residential constructions are anticipated to contribute to the rise. Spill over effects on the trade, tourism, construction sectors and other sectors in the economy, is also expected.
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