Foreign Reserves recorded a $4 million decline over May

Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $4 million over the month of May 2018 to $441.9 million, equivalent to 7.8 months of imports. Over the past year, the official foreign reserves rose by $49.6 million.

OFFICIAL FOREIGN RESERVES

(millions of pa'anga)

  Level Changes
Ration of official foreign reserves to imports i (months)
  Month 12 Months

 2017        
Jan 380.8 2.0 54.5 7.1
Feb 377.7 -3.1 49.2 6.9
Mar 366.0 -11.7 48.7 6.7
Apr 371.7 5.7 48.8 6.7
May 392.3 20.6 61.6 7.1
Jun 407.9 15.6 53.0 7.5
Jul 408.9 1.0 41.5 7.6r
Aug 405.0 -3.9 38.7 7.5
Sep 403.0 -2.0 39.3 7.4
Oct 413.6 10.6 46.6 7.6
Nov 424.8 11.2 63.9 7.8
Dec 422.5 -2.3 43.7 7.7

2018        
Jan  424.1 1.6 43.3 7.6r
Feb 448.0 23.9 70.3 8.1r
Mar 447.7 -0.3 81.7 8.1r
Apr 445.9 -1.8 74.2 7.9
May 441.9 -4.0 49.6 7.8

Source: National Reserve Bank of Tonga
i - Method of calculation changed in February 2017 to include imports of both goods and services (previous method used imports of goods only).
i - Revisions was due to the receipt of updated Trade data from Statistics Department for the June 2017 quarter and the receipt of the import data from the Ministry of Revenue & Customs up to March 2018.

Enquiries

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NUKU'ALOFA

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Resources

Press Release in English
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