Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1696589006946.pdf (Vanuatu)
RESERVE BANK OF VANUATU FINANCIAL & ECONOMIC ANALYSIS: May 2020 The news items covered in this publication do not necessarily imply any judgment by the Bank on the accuracy of the information or any endorsement or acceptance of such news Issue 261 May 2020 1. INTERNATIONAL DEVELOPMENTS The global pandemic has continued to weigh down on global economic activity, creating indistinct uneven growth forecasts.

In spite of this, several countries have slowly eased lockdown restrictions.
Global oil prices continued to hold down consumer price inflation.

Average crude oil prices increased slightly to US$30.4 per barrel from US$21.0 in April, yet showing a historical low level compared to previous years.

latest employment rate was reduced by 0.2 percent over the March quarter.

2.

EXCHANGE RATES DEVELOPMENTS Over the month of May, the Vatu appreciated against the USD (0.7%), but depreciated against the AUD (-0.3%), NZD (-0.2%) and EURO (-1.1%).
In the US, business activities fell further as the COVID- 19pandemic continued to weaken customer demand.

According to IHS Markit Purchasing Managers’ Index (PMI) estimates1, economic reduction eased over the May period due to businesses resuming normal operations.

The labour market the unemployment rate declining from 14.7 percent in April to 13.3 percent in May.
improvement with signs of showed Australia’s economy continued to endure the global pandemic via policy measures, including the Reserve Bank of Australia (RBA) maintaining its cash rate at 0.25 percent during its monetary policy meeting in May.

The economy’s positive trade balance eased in April as an 11 percent reduction in total exports outweighed a 10 percent reduction in overall imports.
Overall, business sentiments have picked up slowly yet at low levels as Flash PMI2 recorded 26.4 in May from 21.7 in April.

In China, a “second wave” of COVID-19 infections have weighed on economic activities.

According to China’s Bureau of Statistics, retail sales declined in May for the fifth consecutive month.

Industrial production showed slow improvement while overall exports declined after a pickup in April due to reduced external demand.
In the Eurozone, Government restrictions, imposed to limit the spread of the virus, continued to impede economic activities.

Relating to Eurozone manufacturing PMI data release, production and new orders placed with euro area manufacturers plunged significantly in May.

Furthermore, 3.
Furthermore, 3.

FOREIGN RESERVE DEVELOPMENTS Official foreign reserves held by the Reserve Bank of Vanuatu (RBV), as at the end of May 2020, stood at VT59, 041 million, which was sufficient to cover around 13.1 months of Vanuatu’s imports of goods and services.

4.
4.

DOMESTIC DEVELOPMENTS Preliminary assessment conducted in March 2020 showed that Covid-19 will have a significant impact on economic output and employment in Vanuatu with growth projected to fall from a pre-Covid-19 forecast of 3.8 percent, to around 1 percent in 2020 without countervailing policy measures, and recover to a relatively higher growth from 2021.
The tourism sector, which is significant to the domestic economy, has been affected and could lead to a contraction of important services sector of the economy in 2020, while the agriculture, fishing and forestry sectors, and the industry sector appeared to be less affected.

Domestic economic output to weaken substantially, and private sector credit growth continued to register a tepid growth.
is projected 1 The US Services Business Activity Index recorded 37.5 in May, higher than April’s index of 26.7 2 Sourced from Commonwealth Bank Australia 1 Against this backdrop, the Board judged that a further reduction in the Reserve Bank’s policy interest rates is appropriate to help steer the economy away from further weakening.
The Board of Reserve Bank of Vanuatu reduced the RBV’s policy interest rate to 2.25 percent from 2.90 percent, and undertook additional policy measures during its meetings on 27 March and 30 March 2020.

The RBV’s twin policy objectives seek to maintain domestic inflation within a target range of 0-4 percent, and official foreign exchange reserves above a minimum threshold of 4 months of import cover.
The Board noted that a reduction of the Bank’s policy interest rate is appropriate in the light of the impact of Covid-19 on the domestic economy.

The reduction in the Reserve Bank’s policy interest rate was effective from 27 March 2020.

While still grappling with COVID-19, a Category 5 Tropical Cyclone (TC) Harold3 made landfall in Vanuatu on 6 to 7 April 2020 and caused widespread damage before passing through to Fiji and Tonga.
The severe storm caused significant damages to buildings and communities, destruction of crops, roads, infrastructure and contaminated water supplies in particularly the northern part of the country.

The Vanuatu National Health Situation Report (Report #6) released on 4 May 2020 confirmed 3 deaths, 199 injuries and 36 referrals as a direct impact of TC Harold.

A total 58 health facilities were affected in severely cyclone-affected areas.
Other indirect or delayed impacts such as on nutrition and metal health have been reported.

As ongoing assessments for TORBA and SANMA provinces are finalized, the Rapid Technical Assessment (RTA) Report produced by the National Disaster Management Office (NDMO) confirmed that a total population of 92,274 and 30,996 households from 345 communities from the three affected provinces of SANMA and MALAMPA were affected by TC Harold.

5.
5.

MONETARY DEVELOPMENTS Money supply contracted by 0.4 percent in April, triggering the annual growth rate to slow down to 1.9 percent from 4.5 percent recorded over the year to March 2020.

The downward trend resulted from the decline in domestic credit, which outweighed the increase in net foreign assets (NFA).

In annual terms, money supply continued to be driven by NFA, while domestic credit remained subdued.
Chart 1: Determinants of Money Supply (yoy% change) NFA increased by 1.1 percent and 22.3 percent over the month and over the year to April 2020, respectively.

The growth during the month reflected the net inflows recorded by Other Depository Corporations (ODCs).

The continued robust growth in NFA over the year implied that there is adequate foreign currency liquidity in the domestic banking sector.
Domestic credit, on the other hand, declined by 1.2 percent and 7.7 percent, month-on-month and over the year to April 2020, respectively.

The month-on-month decline was attributed mainly to the reduction in net claims on the Central Government and partially by the reduction in private sector credit.

Private sector credit4 fell by 0.4 percent month-on-month, owing mainly to the declines in credit to both, non-financial corporations and other resident sectors.
Similarly, annual growth of private sector credit remained subdued.

Total loans extended by ODCs to various sectors are depicted in table A4.

Chart 2: Private Sector Credit (yoy% change) Lending by OFIs5 declined further by 4.6 percent and 22.9 percent, month-on-month and year-on-year, respectively, to reach VT1, 623.6 million in April 2020.
3 Vanuatu Daily Post, dated 2 May 2020 4Comprises of credit to non-financial corporations and other resident sectors 2 5 OFI: Other Financial Institutions cover Credit Corporation; Vanuatu Agriculture Bank; and Vanuatu National Provident Fund Chart 4: Outstanding RBV Notes (Levels, Millions of Vatu, Month-End Data) The Central Government’s net credit position vis-à-vis the banking system improved in April, reflecting the increase in Government deposits held with ODCs’.
Similarly, its net credit position remained favorable over the year to April 2020.

Claims on the Central Government by OFIs remained at VT2,100 million in April as in March 2020.

Chart 3: Net Claims of Government vis-à-vis the Banking Sector (BVT) The total maturing RBV Notes during May was VT2,020 million and the total outstanding Notes at the end of the month was VT2,804 million, as shown in Chart 4 above.
Yields of RBV Notes Term End May 2020 End April 2020 7 days: 0.21% 0.24% 14 days: 0.20% 0.22% 28 days: 0.20% 0.23% 63 days: 0.19 % 0.20% 91 days: 0.18% 0.21% Chart 5: Yield on 91-days RBV Notes (Levels, Percentage, Month-end Position) Open Market Operations (OMO) The Bank undertook three Open Market Operations during May 2020, and issued VT1,800 million worth of RBV Notes.

Total subscriptions received for the RBV Notes amounted to VT4,800 million, of which, VT3,000 million were rejected.
Allotments were made as follow: 7 days: VT420 million   14 days: VT400 million  28 days: VT360 million  63 days: VT300 million  91 days: VT300 million 3 04008001,2001,6002,0002,4002,8003,20004008001,2001,6002,0002,4002,8003,200May-19Aug-19Nov-19Feb-20May-20RBV Notes OutstandingM vtM vtSource: RBV01234560123456May-19Aug-19Nov-19Feb-20May-2091 daysRediscount%%Source: RBV 4 TABLE A1 : CONDENSED BALANCE SHEET OF THE RESERVE BANK OF VANUATUMillions VTEnd of PeriodApr-19Jan-20Mar-20Apr-201 Month3 months12monthsClaims on nonresidents49,741.0 60,325.2 59,332.0 58,993.2 -0.6-2.218.6Monetary gold and SDR holdings807.0 786.3 812.1 782.6 -3.6-0.5-3.0 Reserve Assets48,934.0 59,538.9 58,520.0 58,210.6 -0.5-2.219.0Currency and Deposits22.9 22.7 17.3 9.7 -44.1-57.4-57.8National currency22.9 22.7 17.3 9.7 -44.1-57.4-57.8Securities other than shares2,829.4 2,527.6 2,528.6 2,528.6 0.00.0-10.6Central government2,829.4 2,527.6 2,528.6 2,528.6 0.00.0-10.6Loans80.3 84.0 108.1 110.2 1.931.237.2Other depository corporationsOther residents sectors80.3 84.0 108.1 110.2 1.931.237.2Other accounts receivable4,332.6 4,171.9 4,026.7 4,308.6 7.03.3-0.6Trade credit and advances100.3 123.2 96.5 92.0 -4.7-25.3-8.2Settlement accounts505.3 351.7 235.3 402.1 70.914.3-20.4 Miscellaneous Assets3,727.0 3,696.9 3,694.9 3,814.5 3.23.22.3Nonfinancial assets1,695.8 1,681.9 1,689.7 1,690.5 0.00.5-0.3TOTAL ASSETS58,702.0 68,813.2 67,702.5 67,640.7 -0.1-1.715.2Monetary Base39,747.4 47,954.6 45,847.9 46,643.4 1.7-2.717.3Currency in Circulation8,075.2 9,148.6 8,809.2 9,399.2 6.72.716.4Currency Other Depository Corporations ( Commecial banks cash)2,661.9 2,174.0 2,522.3 2,436.6 -3.412.1-8.5Liabilities to Other Depository Corporations 29,010.3 36,632.0 34,516.4 34,807.7 0.8-5.020.0 Reserve Deposits 3,852.4 4,157.8 4,197.2 4,197.2 0.00.99.0 Other Liablities25,157.9 32,474.2 30,319.2 30,610.5 1.0-5.721.7Liabilities to Central Government6,323.8 7,488.8 8,691.2 7,935.9 -8.76.025.5Deposits6,323.8 7,488.8 8,691.2 7,935.9 -8.76.025.5OtherLiabilities to non
 residents2,320.5 1,859.6 1,749.2 1,755.0 0.3-5.6-24.4Deposits2,320.5 1,859.6 1,749.2 1,755.0 0.3-5.6-24.4Securities other than shares2,273.7 2,929.0 2,788.6 2,478.9 -11.1-15.49.0Other Depository Corporation2,261.2 2,929.0 2,788.6 2,478.9 -11.1-15.49.6Other financial Corporation12.5 - - - Loans21.0 13.0 40.2 20.2 -49.755.5-3.8Liabilities to the IMF- Central Government 21.0 13.0 40.2 20.2 -49.755.5-3.8Other accounts payable394.0 400.9 334.9 371.8 11.0-7.3-5.6Trade credit and advances302.5 303.6 267.1 313.8 17.53.33.7Other Sectors91.5 97.3 67.8 58.0 -14.4-40.3-36.6o/w Settlement Accounts68.3 74.3 50.3 48.1 -4.3-35.3-29.6Shares and other equity5,054.6 5,546.1 5,523.7 5,787.1 4.84.314.5SDR Allocation2,566.9 2,621.2 2,726.6 2,648.4 -2.91.03.2TOTAL LIABILITIES58,702.0 68,813.2 67,702.5 67,640.7 -0.1-1.715.2%Change 5 TABLE A2a : CONDENSED BALANCE SHEET OF OTHER DEPOSITORY CORPORATIONS IN VANUATUMillions VTEND OF PERIODApr-19Jan-20Mar-20Apr-201 Month3 months12 MonthsMonetary gold and SDRCurrency and deposits61,798.9 59,238.4 58,401.6 59,352.3 1.60.2-4.0Currency2,853.2 2,741.9 3,040.9 2,997.4 -1.49.35.1National2,661.9 2,174.0 2,522.3 2,436.6 -3.412.1-8.5Foreign191.2 567.9 518.6 560.8 8.1-1.3193.3Transferable deposits35,650.8 40,221.7 38,351.9 38,649.1 0.8-3.98.4In Local currency:29,096.0 36,603.9 33,980.7 34,765.3 2.3-5.019.5Central Bank29,010.3 36,547.5 33,977.6 34,760.2 2.3-4.919.8Other depository corporations75.7 - - - Nonresidents10.0 56.4 3.1 5.1 63.9-90.9-48.5 Head offices and Branches- - - - Other depository corporations10.0 56.4 3.1 5.1 63.9-90.9-48.5In foreign currency: 6,554.8 3,617.8 4,371.2 3,883.8 -11.27.4-40.7Other depository corporations1,911.3 - - - Nonresidents4,643.5 3,617.8 4,371.2 3,883.8 -11.27.4-16.4 Head offices and Branches163.0 292.4 606.9 170.2 -71.9-41.84.4 Other depository corporations4,480.5 3,325.3 3,764.3 3,713.6 -1.311.7-17.1Other deposits 23,295.0 16,274.8 17,008.8 17,705.8 4.18.8-24.0In Local currency:524.9 537.8 538.0 488.0 -9.3-9.3-7.0Other
 depository corporations524.8 537.8 538.0 488.0 -9.3-9.3-7.0 Nonresidents0.0 0.0 - 0.0 -50.0-92.9 Other depository corporations- - - - In foreign currency: 22,770.1 15,736.9 16,470.7 17,217.8 4.59.4-24.4Other depository corporations4,758.4 411.0 426.6 46.6 -89.1-88.7-99.0 Nonresidents18,011.7 15,325.9 16,044.1 17,171.2 7.012.0-4.7 Head offices and Branches2,674.0 - - - Other depository corporations15,337.7 15,325.9 16,044.1 17,171.2 7.012.012.0Securities other than shares3,548.7 4,116.5 3,976.1 3,666.4 -7.8-10.93.3Central Bank2,261.2 2,929.0 2,788.6 2,478.9 -11.1-15.49.6Central Government1,287.5 1,187.5 1,187.5 1,187.5 0.00.0-7.8Loans63,745.1 62,137.6 62,356.4 62,153.2 -0.30.0-2.5Other depository corporations4.3 0.0 0.0 0.0 0.0-92.3-100.0Other financial corporations66.1 74.0 65.5 66.1 0.8-10.7-0.1Central government- - - - State and local government71.3 65.6 64.2 60.8 -5.3-7.3-14.7Public nonfinancial corporations998.3 1,042.0 851.4 920.0 8.1-11.7-7.8Other nonfinancial corporations25,806.5 25,431.5 26,504.5 26,416.2 -0.33.92.4Other residents sectors35,294.4 33,998.0 33,362.1 33,199.6 -0.5-2.3-5.9Nonresidents1,504.3 1,526.5 1,508.7 1,490.5 -1.2-2.4-0.9Interbank Funds sold- - - - Shares and Other Equity- - - - Other depository corporations- - - - Other accounts receivable 3,495.6 4,427.2 4,321.7 4,172.5 -3.5-5.819.4Trade credit and advances104.4 227.1 209.1 183.2 -12.4-19.375.5Settlement accounts2,085.6 2,500.2 2,576.6 2,608.3 1.24.325.1Miscellaneous assets items1,305.6 1,699.9 1,536.0 1,380.9 -10.1-18.85.8Nonfinancial assets5,610.0 6,318.3 6,433.6 6,463.2 0.52.315.2TOTAL ASSETS138,198.4 136,238.0 135,489.4 135,807.5 0.2-0.3-1.7* From October 2018 data includes Wanfuteng Bank%Change 6 TABLE A2b : CONDENSED BALANCE SHEET OF OTHER DEPOSITORY CORPORATIONS IN VANUATUMillions VTEND OF PERIODApr-19Jan-20Mar-20Apr-201 Month3 months12 MonthsDeposits106,569.6 105,650.6 104,182.1 104,597.0 0.4-1.0-1.9Transferable deposits63,969.3 62,711.0 63,411.5 63,925.2 0.81.9-0.1In Local currency:
 34,886.6 39,670.1 39,649.9 39,992.1 0.90.814.6 Other depository corporation481.0 339.8 384.1 342.0 -11.00.7-28.9 Other financial corporations3,121.3 4,097.2 4,137.0 2,656.2 -35.8-35.2-14.9 Central government2,809.6 3,837.5 3,634.0 3,668.5 0.9-4.430.6 State and local governments237.3 117.3 100.0 130.5 30.511.2-45.0 Public nonfinancial corporations439.9 759.2 551.8 629.3 14.0-17.143.1 Other non financial corporations11,910.5 13,058.0 12,884.7 13,209.9 2.51.210.9 Other residents sectors15,887.1 17,461.0 17,958.1 19,355.8 7.810.921.8Non-residents1,575.6 1,727.5 1,840.1 1,816.4 -1.35.115.3 Other Depository and financial corporations26.8 13.6 13.5 7.0 -48.4-48.8-73.9 Other non residents1,548.8 1,713.9 1,826.6 1,809.4 -0.95.616.8In Foreign currency: 23,362.9 19,558.4 20,278.4 20,610.4 1.65.4-11.8 Other depository corporation2,047.7 119.2 117.4 113.9 -3.0-4.4-94.4 Other financial corporations446.2 527.9 506.0 506.8 0.2-4.013.6 Central government2,146.5 1,296.8 874.7 1,980.9 126.552.8-7.7 Public nonfinancial corporations182.8 180.5 108.6 105.1 -3.2-41.7-42.5 Other non financial corporations15,019.7 14,070.6 15,477.4 14,668.0 -5.24.2-2.3 Other residents sectors3,030.6 2,857.3 2,664.1 2,727.2 2.4-4.6-10.0Non-residents4,144.1 1,755.0 1,643.1 1,506.3 -8.3-14.2-63.7 Head office and Branches713.9 - 58.1 4.5 -92.3-99.4 Other Depository and financial corporations58.3 46.5 68.3 57.6 -15.624.0-1.2 Other non residents3,371.9 1,708.6 1,516.7 1,444.2 -4.8-15.5-57.2Other deposits 42,600.3 42,939.6 40,770.6 40,671.8 -0.2-5.3-4.5In Local currency: 26,379.7 27,019.2 24,121.9 23,936.7 -0.8-11.4-9.3 Other depository corporation426.8 812.4 815.4 816.5 0.10.591.3 Other financial corporations5,697.0 5,415.7 5,326.8 5,286.5 -0.8-2.4-7.2 Central government7,616.9 8,334.0 6,001.9 6,007.4 0.1-27.9-21.1 State and local governments119.4 115.9 116.0 116.5 0.40.5-2.4 Public nonfinancial corporations1,303.3 1,202.6 1,160.1 1,114.1 -4.0-7.4-14.5 Other non financial corporations2,651.5 2,889.9 2,689.3
 2,715.4 1.0-6.02.4 Other residents sectors8,564.8 8,248.6 8,012.3 7,880.3 -1.6-4.5-8.0Non-residents646.2 1,048.6 1,037.9 1,038.2 0.0-1.060.7Other Depository and financial corporations- - - - Other non residents646.2 1,048.6 1,037.9 1,038.2 0.0-1.060.7In Foreign currency: 13,467.4 13,535.8 14,501.9 14,325.8 -1.25.86.4 Other depository corporation1,275.2 - - - Other financial corporations2,769.2 3,554.0 3,287.5 3,249.6 -1.2-8.617.3 Central government- - 1,025.2 998.7 -2.6 Public nonfinancial corporations91.9 93.9 96.6 95.3 -1.31.53.7 Other non financial corporations4,700.6 5,466.9 5,507.5 5,667.9 2.93.720.6 Other residents sectors4,630.4 4,421.0 4,585.2 4,314.3 -5.9-2.4-6.8Non-residents2,107.1 1,336.0 1,109.0 1,371.1 23.62.6-34.9Other Depository and financial corporations- - - - Other non residents2,107.1 1,336.0 1,109.0 1,371.1 23.62.6-34.9Loans5,694.4 2,320.7 2,589.9 2,123.7 -18.0-8.5-62.7Other depository Corporations2,416.0 410.4 426.2 412.2 -3.30.4-82.9Non residents3,278.4 1,910.3 2,163.8 1,711.5 -20.9-10.4-47.8Head office and Branches3,218.9 1,763.5 2,104.5 1,657.2 -21.3-6.0-48.5Other financial corporations59.6 146.8 59.3 54.4 -8.3-63.0-8.8Other accounts payable10,121.7 13,201.1 13,630.0 14,135.3 3.77.139.7Trade credit and advances176.0 93.0 129.5 100.8 -22.28.4-42.8Settlement accounts1,965.1 2,271.3 2,358.0 2,393.2 1.55.421.8Provisions for losses2,860.7 4,074.7 4,112.7 4,075.2 -0.90.042.5Accumulated depreciation2,784.3 3,161.2 3,254.7 3,290.5 1.14.118.2Miscellaneous liability items2,335.5 3,600.8 3,775.1 4,275.6 13.318.783.1Shares and other equity15,812.7 15,065.7 15,087.5 15,147.3 0.40.5-4.2TOTAL LIABILITIES138,198.4 136,238.0 135,489.4 136,003.3 0.4-0.2-1.6* From October 2018 data includes Wanfuteng Bank%Change 7 TABLE A3 : DEPOSITORY CORPORATION SURVEY Millions VT END OF PERIODApr-19Jan-20Mar-20Apr-201 Month3 months12 Months1.
Net Foreign Assets57,463.069,161.569,508.170,257.91.11.622.3Monetary Authorities (Net)44,853.655,844.454,856.254,589.8-0.5-2.221.7Other Depository Corporations (Net)12,609.413,317.114,651.915,668.16.917.724.32.
Net Domestic Claims36,135.926,302.226,317.225,155.3-4.4-4.4-30.4(a) Domestic Claims47,537.043,453.244,444.843,897.8-1.21.0-7.7(i) Net claims on central government-14,779.9 -17,241.9 -16,511.0 -16,875.1 -2.22.1-14.2 Monetary Authorities-3,494.4 -4,961.1 -6,162.6 -5,407.2 12.3-9.0-54.7 Other Depository Corporations -11,285.5 -12,280.8 -10,348.4 -11,467.9 -10.86.6-1.6(ii) Claims on other Sectors62,316.960,695.160,955.960,772.8-0.30.1-2.5Other Financial Corporations 66.174.065.566.10.8-10.7-0.1State and local government71.365.664.260.8-5.3-7.3-14.7Public nonfinancial corporations998.31,042.0851.4920.08.1-11.7-7.8Other nonfinancial corporations25,806.525,431.526,504.526,416.2-0.33.92.4Other residents sectors35,374.734,082.033,470.233,309.8-0.5-2.3-5.8(b) Other items (net)-11,401.1 -17,151.0 -18,127.6 -18,742.5 3.49.364.43.
Broad Money (M2)93,598.995,463.795,825.395,413.1-0.4-0.11.9(a) Money (M1)61,368.763,242.764,228.764,156.6-0.11.44.5(i) Currency in circulation8,075.29,148.68,809.29,399.26.72.716.4(ii) Transferable deposits53,293.554,094.155,419.554,757.5-1.21.22.7(b) Quasi-money32,230.232,221.031,596.631,256.5-1.1-3.0-3.0 Other Deposits32,230.232,221.031,596.631,256.5-1.1-3.0-3.0* From October 2018 data includes Wanfuteng Bank%ChangeTable A4: Other Depository Corporations Sectoral Distribution of Loans and Advances in Vatu and Foreign CurrencyMillions VT*YOY % ChangeSECTORVTFCTotalVTFCTotalVTFCTotalDepository Institutions Domestic- 4.3 4.3 0.0 - 0.0 Other Financial Corporations Domestic5.4 60.7 66.1 10.6 55.5 66.1 95.8-8.6-0.1Central Government- - - - - - Provincial Assemblies & Local Government71.3 0.0 71.3 60.8 - 60.8 -14.7-100.0-14.7Statutory Non-financial Corporations Domestic527.8 470.5 998.3 530.6 389.4 920.0 0.5-17.3-7.8Manufacturing887.0 552.5 1,439.6 1,077.2 515.7 1,592.9 21.4-6.710.7Agriculture855.2 94.4 949.6 790.4 136.8 927.2 -7.644.9-2.4 Public Utilities 286.0 88.8 374.9 158.0 71.3 229.3 -44.8-19.7-38.8 Forestry 6.0 - 6.0 - 85.1 85.1 -100.01320.8Fisheries18.3 0.0 18.3 14.2 - 14.2 -22.1-100.0-22.1 Mining & Quarrying 106.3 - 106.3 95.0 - 95.0 -10.6-10.6 Construction 1,947.1 1,504.4 3,451.5 2,257.8 1,299.8 3,557.6 16.0-13.63.1 Distribution (Wholesale and Retail) 3,784.3 1,411.8 5,196.1 4,058.8 1,254.7 5,313.5 7.3-11.12.3 Tourism 1,652.4 4,907.3 6,559.8 1,622.5 4,718.4 6,340.9 -1.8-3.8-3.3 Transport 643.8 362.0 1,005.8 548.5 390.1 938.6 -14.87.8-6.7 Communications 1,035.7 817.4 1,853.1 899.2 781.0 1,680.2 -13.2-4.5-9.3 Entertainment & Catering 194.7 387.2 581.9 217.9 169.4 387.3 11.9-56.3-33.4 Professional & Other Services 2,162.4 1,761.9 3,924.3 3,095.9 2,158.3 5,254.2 43.222.533.9 Housing & Land Purchases 10,130.9 4,016.0 14,146.9 16,588.9 3,219.1 19,808.0 63.7-19.840.0 Other individual 17,737.8 2,986.7 20,724.5 10,805.3 2,404.5 13,209.9 -39.1-19.5-36.3 Non Profit Institutions Serving Households 250.6 - 250.6 181.8 0.0 181.8 -27.5-27.5 Grand Total 42,302.8 19,426.0 61,728.9 43,013.5 17,649.2 60,662.6 1.7-9.1-1.7* As of October 2018 data includes Wanfuteng BankApr-19Apr-20