i


JUNE 2017

Table of Contents


May

June
Month-on-
Month
Change
Z.S.E. Mining Index1
69.63
69.79
0.23%
Z.S.E. Industrial Index1
162.34
195.97
20.72%
National Payment System Transactions
(US$ millions)
8 430.11
8 743.97
3.72%
Money Supply (US$ millions)2
6 200.30
6 491.8

Money Supply (M3) Annual Growth2 (%)
23.24
26.91

Yearly Inflation3 (%)
0.75
0.31

Monthly Inflation3 (%)
0.03
-0.24

Nominal Lending Rate2 (% per annum)
4.0-18.0
4.0-18.0

Sources:
1. Zimbabwe Stock Exchange (ZSE)
2. Reserve Bank of Zimbabwe (RBZ)
3. Zimbabwe National Statistics Agency (ZIMSTAT)
SELECTED ECONOMIC INDICATORS

INTERNATIONAL COMMODITY PRICE
DEVELOPMENTS

During the month of June 2017, the
international
commodity
prices
of
gold,
platinum and copper firmed, whilst nickel and
crude oil prices retreated.

Precious Metals

Gold prices increased by 1.2%, from a monthly
average of US$1,245.92/ounce in May 2017 to
an average of US$ 1,260.57/ounce in June 2017.
This was on the back of political uncertainty in
the United Kingdom, which spurred the demand
for safe haven assets such as gold. In addition,
uncertainty over the possibility of further U.S.
Federal Reserve interest rate hikes in 2017,
bolstered investment demand for precious
metals.
Platinum prices also firmed by 0.2%, to close
the month under review at an average of
US$931.48/ounce. Prices increased, supported
by
strong
industrial
demand
from
the
automobile sector, as users switched from
palladium to platinum, which is a cheaper
alternative.
Figure 1: Precious metals prices

Source: Bloomberg, 2017

Base Metals
Copper prices increased by 1.5%, from
US$5,595.9/ton
in
May

to
US$5,679.57/ton in June 2017. This was
underpinned by supply shortage concerns,
following major power outages at copper mines
in Chile and Indonesia, the world’s largest
copper producers.
Nickel prices, on the other hand, registered a
monthly
decline,
occasioned
by
rising
stockpiles, which ignited fears of an increase in
global supply. Prices softened by 3.1%, to a
monthly average of US$8,889.32/ton, during
the month under analysis.

Brent Crude Oil
Crude oil prices retreated by 6.9%, from a
monthly average of US$51.12/barrel in May
2017 to US$47.60/barrel in June 2017. Prices
declined on renewed fears of a global glut, amid
high global inventories particularly in the US, as
shale oil production continued to offset OPEC’s
efforts to cut global supplies. In addition,
investor doubts about OPEC's ability to
implement agreed production cuts also weighed
down on oil prices, during the period under
review.

Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Gold
Platinum

Figure 2: International crude oil prices
Source: Bloomberg, 2017
MERCHANDISE TRADE
DEVELOPMENTS

Total merchandise trade for June 2017 stood at
US$699.2 million, representing a 1.5% increase
from the US$689.2 million recorded in the
previous month.

Merchandise Export Developments
Merchandise
exports
declined
by
8.6%,
from US$223.1 million realized in May 2017 to
US$204.0 million in June 2017. This followed
declines of 50%; 49.4% and 16.1% in export
earnings of ferrochrome, chrome ores and
platinum concentrates, respectively.
Gold, nickel, ferrochrome and flue-cured
tobacco, were the country’s major export
commodities in June 2017, accounting for about
68% of the total export revenues.


Figure 3: Merchandise Exports (US$ m)


Source: Zimstat, 2017

Table 1: Exports Classified by HS Code:
Product
May-17
US$m
June-17
US$m
Share of
total
Exports
(%)
Gold
77.4
73.2
35.9
Nickel ores and
concentrates
32.0
27.7
13.6
Flue-cured
tobacco
14.6
22.4
11.0
Ferro-chrome
30.3
15.2
7.4
Cane sugar
10.1
10.0
4.9
Industrial
diamonds
6.7
7.2
3.5
Unwrought
platinum
5.0
4.2
2.1
Macadamia nuts
2.9
3.2
1.6
Chromium ores
and concentrates
6.2
3.1
1.5
Granite
2.7
2.9
1.4
Other
35.2
34.9
17.1
Total Exports
223.1
204.0
100.0
Source: Zimstat, 2017 & RBZ Calculations, 2017
During the month under analysis, the country’s
merchandise exports were mainly destined for
South Africa, 67.1%; Mozambique, 16.0%, the
United Arab Emirates, 6.6%; Belgium, 3.5%,

Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17

May-17
Jun-17

Zambia, 3.1%; Botswana, 1.3%; Kenya, 0.9%;
Singapore, 0.5%; Namibia, 0.3%; and the
United States, 0.2%.

Source: Zimstat, 2017 & RBZ Calculations, 2017
Merchandise Import Developments
Merchandise imports increased by 6.2%, from
US$466.1 million in May 2017, to US$495.2
million in June 2017. This was, in large part,
explained by the increase in aviation fuel
imports, from US$0.1 million in May 2017, to
US$27.6 million during the month under
analysis.
The main sources of the country’s imports were
South Africa (38.2%); Singapore (27.2%);
China (11.2%); Zambia (2.7%); Japan (2.4) and
Mozambique (2.1%), during the month under
analysis, as shown in Figure 6.


Figure 6: Major Merchandise Import
Sources (% Share)
Source: Zimstat, 2017 & RBZ Calculations, 2017

Merchandise Trade Balance
The developments on merchandise trade
resulted in a 19.8% deterioration in the trade
deficit, from US$242.9 million in May 2017 to
US$291.2 million in June 2017.
Figure 7: Merchandise Exports, Imports and
Trade Balance (US$m)

Source: Zimstat, 2017 & RBZ Computations, 2017
South
Africa
67.1%
Mozambique
16.0%
UAE
6.6%
Belgium
3.5%
Zambia
3.1%
Botswana
1.3%
Kenya
0.9%
Singapore
0.5%
Namibia
0.3%
United
States
0.2%
Other
0.4%
Figure 4:Major Merchandise
Export Destinations
South Africa
Singapore
China
Zambia
Japan
Mozambique
Mauritius
United Arab Emirates
Mexico

Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Exports
Imports
Trade balance

MONETARY DEVELOPMENTS

Broad money1 increased by 26.91%, on an
annual basis, from US$5 115.0 million in June
2016 to US$6 491.8 million in June 2017. The
growth was reflective of annual increases of
35.70% in transferable2 deposits. Partially
offsetting the increase, were declines of 18.88%
and 1.93% in negotiable certificates of deposits
(NCDs)3 and time deposits4, respectively.

On a monthly basis, broad money recorded a
4.70% growth, from US$6 200.3 million in May
2017 to US$6 491.8 million in June 2017.


Source: Reserve Bank of Zimbabwe, 2017


1 Beginning January 2017, broad money was redefined using
IMF’s Monetary and Financial Statistics Manual of 2000.
Major changes include the exclusion of Government deposits
held by banks from broad money.

Broad money consisted of transferable or
transitory deposits, 72.26%; time deposits,
23.71%; currency in circulation, 3.02%; and
negotiable certificates of deposits, 1.01%.

Source: Reserve Bank of Zimbabwe, 2017
The year-on-year growth in domestic credit rose
from 15.74% in June 2016, to 25.55% in June
2017. This was on the back of a 48.14%
expansion in net credit to Government. Growth
in net credit to government depicted the fiscus’
continued reliance on domestic borrowing to
finance budget deficits.

2 Transferable deposits made up of demand and savings
deposits.
3 NCDs are also referred to as securities included in broad
money.
4All classes of time deposits, short and long term are classified
as time deposits, which are also termed other deposits.
-5


US$ BILLIONS
Figure 9: Money Supply
M3
M3 Annual Growth rate
Transferable
Deposits
72.26%
Other
Deposits
(Time)
23.71%
NCDs
1.01%
Bond
Notes and
Coins
3.02%
Figure 10: Composition of
Money Supply June

Annual credit to the private sector recorded an
increase of 3.26%, from US$3 411.7 million
in June 2016 to US$3 522.8 million in June
2017. Similarly, monthly credit to the private
sector increased by 0.12%, from US$3 518.8
million in May 2017 to US$ 3 522.7 million in
June 2017.

Source: Reserve Bank of Zimbabwe, 2017
On a sectoral basis, private sector credit was
distributed as follows: households, 22.7%;
agriculture,
16.5%;
services,
15.9%;
manufacturing, 13.1%; distribution, 11.9%;
financial organisations and investments, 10.8%;
mining, 4.8%; transport and communications,
2.1%; construction, 1.7%; and other, 0.5%.
During the month under review, private sector
credit was utilised as follows: inventory buildup, 31.1%; consumer durables, 15.2%; fixed
capital investment, 12.9%; and pre and post
shipment financing, 1.2%.
STOCK MARKET DEVELOPMENTS

The Zimbabwe Stock exchange maintained a
positive momentum during the month of June
2017. Resultantly, industrial and mining indices
increased by 0.23% and 20.72% to 69.79 points
and 195.97 points, respectively. This was partly
attributable to the increased demand for equities
as safe haven assets.

Source: Zimbabwe Stock Exchange, 2017
The month under review registered a notable
number of block trades which saw 124 million
Zimre Property Investments (ZPI) shares;
37.3 million Rainbow Tourism Group (RTG)
shares, 32.2 million General Beltings Limited
shares; and 23.7 million Econet Wireless shares
exchanging hands at US$0.0135; US$0.01;
US$0.0011;
and
US$0.355,
respectively.
Resultantly, both the turnover volume and value
increased by 82.14% and 136.17%, to 311.1
million
shares
and
US$39.7
million,
respectively. On a year - on - year basis, the
Households
22.7%
Agriculture,
16.5%
Manufacturing,
13.1%
Services,
15.9%
Distribution,
11.9%
Financial
Organisati
ons,
10.8%
Mining,
4.8%
Transport and
Communication,
2.1%
Construction,
1.7%
Other, 0.5%
Figure 11: Sectoral distribution of
credit

27-May-16
27-Jun-16
27-Jul-16
27-Aug-16
27-Sep-16
27-Oct-16
27-Nov-16
27-Dec-16
27-Jan-17
27-Feb-17
27-Mar-17
27-Apr-17
27-May-17
27-Jun-17
Figure 7: ZSE Indices
Industrial
Mining

value of shares traded registered a 120.03%
growth.
Foreign
investor
participation,
however,
continued to decline, registering a net outflow of
US$4.43 million in June 2017, compared to
US$2.38 million in May 2017.
INFLATION OUTTURN

Annual Inflation

Annual headline inflation decelerated to 0.31%
in June 2017, from 0.75% in May 2017. This
was, in large part, explained by the decline in
non-food inflation. Annual non-food inflation
receded significantly to -0.37% in June 2017,
from 0.21% in May 2017. Annual food inflation
also posted a lower increase of 1.82% in June
2017, from 1.92% in May 2017, as a result of
the increase in the domestic supply of food,
following the good harvest.


Source: ZIMSTAT, 2017
Monthly Inflation

Month-on-month inflation slowed down to
-0.24% in June 2017, from 0.03% in May 2017.
The decline was driven by decreases in both
food and non-food inflation.


Source: ZIMSTAT, 2017
Monthly food inflation fell to -0.45% in June
2017, from 0.07% in May 2017, weighed down
by declines in the prices of bread and cereals,
meat, fruit, vegetables, oils and fats, and milk,
cheeses and eggs. Increases in the prices of nonalcoholic beverages, and fish and seafood,
however, partially offset the declines.

Monthly non-food inflation decelerated from
0.01% in May 2017 to -0.14% in June 2017.
This was attributable to increases in housing,
water, electricity gas and other fuels; transport;
and health. Partially offsetting the declines were
increases in recreation and culture and
restaurants and hotels.
NATIONAL PAYMENTS SYSTEM

The total value of transactions processed
through the National Payment System (NPS)
increased by 3.72%, from US$8 430.11 million
in May 2017 to US$8 743.97 million in June
2017. NPS transaction volumes also increased


Figure 12: Annual Inflation
(%)
Headline Inflation
Food
Non Food

Figure 13: M-O-M Inflation

by 9.76%, to 76 092 740 in June 2017 from
69 324 793 in the previous month.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
RTGS
system
increased
by
7.5%,
to
US$5.35
billion
in
June

from
US$4.97 billion recorded in May 2017.
Transaction volumes, however, registered a 1%
decline, from 531 783 in May 2017 to 524 991
in June 2017.
Source: Reserve Bank of Zimbabwe, 2017
Cash transactions
Cash transactions declined by 30.6%, from
US$430.67
million
in
May

to
US$298.98 million in June 2017.
Mobile and Internet Based Transactions
The total value of mobile and internet based
transactions closed the month of June 2017 at
US$1 595.83 million, up from US$1 558.64
million in May 2017.
Card Based Transactions
Card
based
transactions
decreased
from
US$602.49 million recorded in May 2017, to
US$593.48 million in June 2017.

Cheque Transactions
The value of cheque transactions decreased by
3.6%, to close the month of June 2017 at
US$6.28 million.

RESERVE BANK OF ZIMBABWE
JUNE 2017


VALUE IN US$ BILLIONS
VOLUME IN THOUSANDS
Figure 14: ZETSS Volumes and
Values
Volume
Value

Statistical Tables

Monetary Statistics
1. Depository Corporations Survey

2. Central Bank Survey

3. Other Depository Corporations Survey

Other Depository Corporations

4.1 Assets

4.2 Liabilities

Commercial Banks
5.1 Assets

5.2 Liabilities

Building Societies
6.1 Assets

6.2 Liabilities

Sectoral Analysis of Bank Loans and Advances and Deposits

7.1 Sectoral Analysis of Commercial Banks Loans and Advances

7.2 Sectoral Analysis of Commercial Banks Deposits

Interest Rates

8.1 Lending Rates

8.2 Banks Deposit Rates

Inflation

9.1 Monthly Inflation

9.2 Yearly Inflation

External Statistics

10. Total External Debt Outstanding by Debtor

11. Exchange Rates

12. Zimbabwe Stock Exchange Statistics

13. National Payments System Statistics


13.1 Values of Transactions

13.2 Volumes of Transactions

14. Merchandise Trade Statistics

Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Net Foreign Assets

Central Bank(net)

Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)

Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad Mon

Broad Money-M2

Other Deposits

Narrow Money-M1

Transferable Deposits

Currency Outside Depository Corporations

Note:
(i) Depository corporations survey - formerly Monetary Survey.
(ii) Broad money redefined using IMF's Monetary and Financial Statistics Manual of 2000. Major changes include exclusion of Government deposits held by banks from broad money.
(iii) Transferable deposits made up of demand and savings deposits.
(iv) NCDs are also referred to as securities included in broad money.
(v) All classes of time deposits, short and long term are classified as time deposits, which are also termed other deposits.
(vi) Credit to the private sector now excludes claims on other financial corporations, as well as claims on state and local government (local authorities)
(vii) Depository corporations made up of the Central Bank and other depository corporations
(viii) Other depository corporations (ODCs) - Commercial banks, merchant banks, building societies and POSB.
TABLE 1: DEPOSITORY CORPORATIONS SURVEY (US$ '000)

Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Net Foreign Assets

Claims on Non Residents

Official Reserves Assets

Other Foreign Assets

Less Liabilities to Non Residents

Short Term Liabilities

Other Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Of which: Securities Other than Shares

Less Liabilities to Central Government

Of which: Deposits

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Other Liabilities to ODCs

Other Items(Net)

Monetary Base Incl. foreign currency clearing
balances
Monetary Base
1,009,656.202 1,051,559.320 1,138,557.468 1,198,220.393 1,105,507.110 1,319,638.956 1,472,735.173 1,499,773.004 1,604,587.411 1,604,425.179 1,659,746.254 1,725,348.049 1,948,879.104
Bond Coins

Bond Notes

Liabilities to ODCs
996,320.429 1,032,687.846 1,123,924.446 1,183,078.547 1,093,687.178 1,292,654.095 1,385,011.220 1,395,502.072 1,467,941.594 1,446,635.592 1,492,786.162 1,520,837.740 1,728,301.189
Reserve Deposits

Other
996,320.429 1,032,687.846 1,123,924.446 1,183,078.547 1,093,687.178 1,292,654.095 1,385,011.220 1,395,502.072 1,467,941.594 1,446,635.592 1,492,786.162 1,520,837.740 1,728,301.189
Private Deposits

Source: Reserve Bank of Zimbawe
TABLE 2: CENTRAL BANK SURVEY (US$'000)

Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Net Foreign Assets

Claims on Non Residents

Of Which: Foreign Currency

Deposits

Other

Less Liabilities to Non Residents

Of Which: Deposits

Loans

Other

Net Domestic Assets (NDA)
5,132,752.46

5,060,208.14

5,148,766.23

5,245,432.00

5,321,500.90

5,442,974.41

5,549,018.98

5,580,169.12

5,639,870.63

5,709,300.08

5,875,774.29

5,952,966.10

6,280,977.27

Domestic Claims
5,052,675.36

4,986,309.07

4,950,022.79

5,022,442.51

5,110,022.06

5,157,302.61

5,249,484.24

5,193,549.03

5,210,748.62

5,374,818.07

5,496,061.61

5,599,314.81

5,744,480.55

Net Claims on Central Government
1,415,342.33

1,425,743.21

1,396,177.93

1,446,944.29

1,503,220.41

1,472,146.07

1,528,867.51

1,617,356.78

1,673,670.22

1,722,915.15

1,893,632.91

1,910,530.23

1,988,366.03

Claims on Central Government
1,440,948.5355

1,476,643.9874

1,443,114.9290

1,490,684.3763

1,546,271.8214

1,518,299.1187

1,571,032.9250

1,670,420.5050

1,728,929.8577

1,809,816.2513

1,969,866.9249

1,985,634.2076

2,062,080.8211

Securities
1,412,869.1273

1,450,083.5207

1,420,220.1988

1,463,404.5297

1,517,535.6764

1,500,671.4257

1,553,239.1020

1,654,534.6290

1,713,961.3077

1,794,113.0553

1,954,045.2049

1,968,887.3446

2,014,158.1741

Loans
28,079.4082

26,560.4666

22,894.7303

27,279.8466

28,736.1450

17,627.6930

17,793.8230

15,885.8760

14,968.5500

15,703.1960

15,821.7200

16,746.8630

47,922.6470

Other
-

-

-

(0.0000)

-

(0.0000)

0.0000

(0.0000)

0.0000

-

(0.00)

(0.00)

(0.00)

Less Liabilities to Central Government
(25,606.2057)

(50,900.7775)

(46,937.0009)

(43,740.0913)

(43,051.4118)

(46,153.0502)

(42,165.4109)

(53,063.7244)

(55,259.6416)

(86,901.1009)

(76,234.0149)

(75,103.9806)

(73,714.7955)

Claims on Other Sectors
3,637,333.0280

3,560,565.8611

3,553,844.8587

3,575,498.2216

3,606,801.6478

3,685,156.5434

3,720,616.7211

3,576,192.2507

3,537,078.4083

3,651,902.92

3,602,428.70

3,688,784.58

3,756,114.52

Other Financial Corporations
110,807.60

120,221.91

116,453.99

117,440.18

106,745.29

109,892.67

102,641.44

100,223.50

60,600.81

61,686.40

63,543.47

77,258.00

132,079.86

State and Local Government
40,448.43

48,803.79

47,676.40

43,554.41

41,728.47

37,784.82

34,237.41

35,909.11

35,006.53

34,312.18

34,732.93

36,595.52

35,573.02

Public Non Financial Corporations
98,902.80

100,732.47

100,520.49

93,825.28

103,499.64

101,612.03

86,631.35

84,675.48

84,417.84

86,380.62

90,267.74

88,656.44

98,878.45

Private Sector
3,387,174.20

3,290,807.69

3,289,193.98

3,320,678.35

3,354,828.25

3,435,867.03

3,497,106.53

3,355,384.15

3,357,053.23

3,469,523.72

3,413,884.55

3,486,274.63

3,489,583.19

Claims on the Central Bank
1,017,467.818

1,055,340.530

1,178,684.455

1,209,909.110

1,156,606.119

1,323,120.314

1,435,556.219

1,475,197.651

1,507,778.322

1,498,477.568

1,505,940.672

1,505,814.461

1,682,269.779

Bond Notes and Coins
1,614.904

1,620.368

1,580.191

1,627.106

1,420.818

4,565.027

16,563.071

20,206.055

19,301.209

12,559.660

10,691.409

13,438.609

7,361.926

Reserves
1,015,852.915

1,053,720.162

1,177,104.264

1,208,282.003

1,155,185.301

1,318,555.287

1,418,993.147

1,454,991.597

1,488,477.113

1,485,917.908

1,495,249.263

1,492,375.852

1,674,907.853

Liabilities to the Central Bank

Other Items(Net)
937,390.03

981,438.87

979,940.77

986,918.90

945,127.17

1,037,448.30

1,134,271.35

1,088,577.32

1,078,654.52

1,162,242.90

1,126,224.85

1,152,162.40

1,145,772.36

Shares and Other Equity
1,160,998.70

1,174,877.57

1,188,635.39

1,194,352.25

1,211,644.10

1,228,902.77

1,271,826.05

1,272,987.21

1,279,285.69

1,301,867.36

1,295,023.50

1,310,286.87

1,325,276.01

Liabilities to other financial corporations
47,396.74

46,151.88

41,248.99

36,195.23

28,299.00

28,777.63

48,770.44

41,105.95

43,353.63

41,885.62

41,887.59

42,243.24

46,601.91

Other Items(Net)
(271,005.41)

(239,590.58)

(249,943.61)

(243,628.59)

(294,815.93)

(220,232.10)

(186,325.14)

(225,515.85)

(243,984.80)

(181,510.08)

(210,686.24)

(200,367.71)

(226,105.56)

Deposits and Securities Included in Broad Money
5,103,294.98

5,047,074.28

5,167,680.67

5,263,571.88

5,302,500.30

5,397,590.93

5,567,120.14

5,579,371.63

5,654,297.27

5,734,703.72

5,960,513.96

6,009,210.65

6,278,455.63

Deposits Included in Broad Money
5,022,342.85

4,975,283.25

5,086,840.39

5,189,453.59

5,229,143.63

5,353,728.76

5,504,225.78

5,528,809.61

5,594,968.03

5,674,542.57

5,897,221.76

5,947,817.72

6,212,788.17

Transferable Deposits
3,453,134.13

3,457,573.92

3,533,492.69

3,654,543.14

3,720,200.45

3,886,146.76

4,032,568.59

3,983,863.96

4,042,323.47

4,144,685.59

4,366,516.18

4,389,399.64

4,673,922.65

Other Deposits
1,569,208.72

1,517,709.33

1,553,347.70

1,534,910.45

1,508,943.19

1,467,582.00

1,471,657.19

1,544,945.66

1,552,644.56

1,529,856.98

1,530,705.58

1,558,418.08

1,538,865.52

Money Market Instruments
80,952.14

71,791.03

80,840.29

74,118.29

73,356.67

43,862.17

62,894.35

50,562.02

59,329.24

60,161.15

63,292.20

61,392.93

65,667.46

Source: Reserve Bank of Zimbawe
TABLE 3: OTHER DEPOSITORY CORPORATIONS SURVEY ( US '000)

Foreign
TOTAL
End of
Notes
Bond
&
Balances
Balances with
Balances
Other Claims
Notes &
Coin
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Government
Local
Public
Other Institutional Units3
Other cliams
Contigent Assets
Other Assets
Non Financial
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities
Government
Enterprises
Assets

Jan
1.22


Feb
1.44


Mar
1.53


Apr
1.55


May
1.53


Jun
1.61


Jul
1.62


Aug
1.58


Sep
1.63


Oct
1.42


Nov
4.57


Dec
16.56


Jan
20.21


Feb
19.30


Mar
12.56


Apr
10.69


May
13.44


Jun
7.36


Source:Reserve Bank of Zimbabwe,2017
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households, other financial corporations,
TABLE 4.1: - OTHER DEPOSITORY CORPORATIONS -ASSETS
US$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Contigent
Other
Total
and
Liablities
Liablities
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository
Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan


Feb


Mar


Apr


May


June


July


Aug


Sep


Oct


Nov


Dec


Jan


Feb


Mar


Apr


May


Jun


Source:Reserve Bank of Zimbabwe,2017
TABLE 4.1 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
Deposits
Amounts Owing to
US$millions

TOTAL
End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Government
Government
Enterprises
Institutional Units3
Other claims
Assets
Other Assets
Assets
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
1.05


Feb
1.21


Mar
1.31


Apr
1.35


May
1.38


Jun
1.42


Jul
1.45


Aug
1.36


Sep
1.40


Oct
1.27


Nov
4.24


Dec
14.07


Jan
17.72


Feb
16.29


Mar
10.74


Apr
9.82


May
12.36


Jun
7.01


Source:Reserve Bank of Zimbabwe,2017
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
TABLE 5.1: - COMMERCIAL BANKS -ASSETS
US$ millions
Debt Securities
Loans and Advances

US$ millions
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
Debt Securities
Foreign Liabilities
RBZ
Other Depository Other Finacial
Capital
Contigent
Other
from the public
Corporations
Corporations
Corporations
and
Liablities
Liablities
Total
Reserves

Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Source:Reserve Bank of Zimbabwe,2017
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

Debt Securities Foreign Liabilities
Capital
Other
Total
and
Liablities
End of
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial Reserves
from the public
Corporations
Corporations Corporations

Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Source: Reserve Bank of Zimbabwe,2017

Amounts Owing to
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
US$ millions

END OF
AGRICULTURE CONSTRUCTION COMMUNICATIONS
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
INVESTMENTS ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Source: Reserve Bank of Zimbabwe,2017
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
US$ thousands

End Period
Nominal Lending Rates 1
Individuals
Corporate

Jan
6.00-22.00
12.08
7.38
Feb
4.00-22.00
11.48
7.29
Mar
4.00-22.00
11.44
7.16
Apr
4.00-22.00
11.50
7.20
May
4.00-18.00
11.43
7.35
Jun
4.00-18.00
11.40
7.48
Jul
4.00-18.00
10.69
6.79
Aug
4.00-18.00
10.67
6.84
Sep
4.00-18.00
10.66
6.95
Oct
4.00-18.00
10.70
6.93
Nov
4.00-18.00
10.69
6.99
Dec
4.00-18.00
10.59
6.87

Jan
4.00-18.00
10.61
6.68
Feb
4.00-18.00
10.06
6.52
Mar
4.00-18.00
9.12
7.02
Apr
4.00-18.00
9.25
7.02
May
4.00-18.00
9.17
7.03
Jun
4.00-18.00
9.01
7.05
Source:Reserve Bank of Zimbabwe, 2017
Notes
TABLE 8.1: LENDING RATES (percent per annum)
1. Nominal Lending Rates depict the range of rates quoted by banks.
Commercial Banks
Weighted Average Lending Rates

END OF
SAVINGS
3 MONTHS

Jan
0.50-8.00
0.75-17.00
Feb
0.50-8.00
0.75-17.00
Mar
0.50-8.00
0.75-17.00
Apr
0.50-8.00
0.75-17.00
May
0.50-8.00
0.75-17.00
Jun
0.50-6.00
0.75-17.00
Jul
0.50-6.00
0.75-17.00
Aug
0.50-6.00
1.00-17.00
Sep
0.50-6.00
1.00-17.00
Oct
0.50-6.00
1.00-17.00
Nov
0.50-6.00
1.00-17.00
Dec
0.50-6.00
1.00-17.00

Jan
0.50-6.00
1.00-17.00
Feb
0.50-6.00
1.00-17.00
Mar
0.50-6.00
1.00-17.00
Apr
0.50-6.00
1.00-17.00
May
0.50-6.00
1.00-9.50**
Jun
0.50-6.00
1.00-12.00
Source:Reserve Bank of Zimbabwe, 2017
* The range of rates qouted by banks during the period.
**Banks have adjusted their costs of holding deposits following the call by the RBZ to reduce lending rates.
TABLE 8.2 : BANKS DEPOSIT RATES (percent per annum)*
COMMERCIAL BANKS

FOOD
INFLATION
ALL
ALCOHOLIC
BEVERAGES
CLOTHING
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNICATION
RECREATION
&
EDUCATION
RESTAURANTS
&
MISC.
TOTAL NON
FOOD &
ITEMS
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
FOOD
NON
ALCOHOLIC
BEVERAGES
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Source:Zimstat, 2017
NON-FOOD INFLATION
TABLE 9.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX
( DECEMBER 2012 = 100)

F OOD
IN F LA TION
A LC OHOLIC
C LOTHIN G
HOUS IN G,
WA TER ,
F UR N ITUR E
M IS C .
F OOD &
B EVER A GES
&
ELEC TR IC T
Y, GA S
A N D
R EC R EA TION
&
R ES TA UR A N TS
&
GOOD S &
TOTA L N ON
N ON
A LC OHOLIC
A LL
& TOB A C C O
F OOTWEA R
& OTHER
EQUIP M EN T
C ULTUR E
HOTELS
S ER VIC ES
F OOD
B EVER A GES
ITEM S
F UELS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Source: Zimstat, 2017
C OM M UN IC A TION
TR A N S P OR T
HEA LTH
ED UC A TION
N ON -F OOD IN F LA TION
TABLE 9.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX
(DECEMBER 2012 = 100)

(US$ millions)
End Period

Long-Term External Debt

Government

Bilateral Creditors

Multilateral Creditors

Private Creditors

Public Enterprises


Bilateral Creditors

1,155

Multilateral Creditors

Private Creditors

Monetary Authorities

Multilateral Creditors - IMF

Private


Short-Term External Debt

1,198
1,382
1,289


Supplier's Credits

Reserve Bank

Private

1,807
1,671
1,731
Total External Debt

Source: Ministry of Finance & Economic Development, 2017; & Reserve Bank of Zimbabwe, 2017
TABLE 10: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)

SA
BW
JAPANESE
EUROPEAN
POUND
END OF
RAND/1
PULA/1
YEN/1
CURRENCY/2
STERLING/2

Jan

feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Source: Reserve Bank of Zimbabwe, 2017
TABLE 11 : SELECTED INTERNATIONAL EXCHANGE RATES
1. Foreign currency per US dollar.
2. US dollars per unit of foreign currency.

Market Capitalisation
US$ millions

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Source:Zimbabwe Stock Exchange (ZSE),2017
TABLE 12: ZIMBABWE STOCK MARKET STATISTICS
Industrial
Market Turnover
US$ million
Volume of Shares
Mining
Indices

MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Source:Reserve Bank of Zimbabwe, 2017
TABLE 13.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (US$ millions)

MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Annual Total


Jan

Feb

May

Apr

May

Jun

Source:Reserve Bank of Zimbabwe, 2017
TABLE 13.2 : ZETSS AND RETAIL PAYMENTS
Volumes of Transactions (000's)

Month
Exports
Imports
Total Trade
Trade Balance

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total


Jan

Feb

Mar

Apr

May

Jun

Source: Zimstat, 2017
TABLE 14 : MERCHANDISE TRADE STATISTICS
(US$ millions)