i


JANUARY 2019

TABLE OF CONTENTS


December

January
Month-on-
Month
Change (%)
Yearly Inflation3 (%)
42.09
56.90

Monthly Inflation3 (%)
9.03
10.75

National Payment System Transactions2
(US$ millions)
16 090.61
13 575.37
-15.63
Money Supply2 (US$ millions)
10 009.91
9 857.03
-1.53
Money Supply (M3) Annual Growth2 (%)
28.05
30.64

Nominal Lending Rate2 (% per annum)
4.00-18.00
4.00-18.00

Merchandise Exports3 (US$ millions)
364.8
292.6
-19.8
Merchandise Imports3 (US$ millions)
494.7
336.8
-31.9
Trade Balance3 (US$ millions)
129.9
44.2
-65.97
Z.S.E All share Index
146.24
157.54
7.73
Z.S.E. Mining Index1
227.71
213.13
-6.40
Z.S.E. Industrial Index1
487.13
525.90
7.96
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
January
2019,
international commodity prices for copper,
precious metals and oil firmed. Copper prices,
however, recorded a decline.

Precious Metals
Gold and platinum prices increased by 3.3% and
1.2%, to close at monthly averages of
US$1,291.67/oz and US$805.83/oz in January
2019, respectively. Prices were supported by an
increase in safe haven demand for precious
metals, on account of a weaker US dollar and
higher volatility in equity markets.

Figure. 1: Precious metal prices (US$/oz.)
Source: Bloomberg, 2019

Base Metals
Average prices for copper declined by 2.6% to
US$5,963.91/tonne in January 2019. The
escalation of the US-China trade disputes
coupled
with
slackening
global
demand
weighed down the price of copper. Nickel
prices,
however,
rose
by
9.3%
to
US$11,493.64/tonne in the same month. Supply
constraints in Indonesia, one of the world’s top
nickel producers, boosted nickel prices.. Trends
in base metal prices are shown in Figure 2.

Figure 2: Base metal prices (US$/ton)
Source: Bloomberg, 2019


Brent Crude Oil
Brent crude prices rose by 3.2%, from a monthly
average of US$58.32/barrel in December 2018,
to US$60.21/barrel in January 2019. This
followed supply cuts by the Organization of
Petroleum Exporting Countries. Geo-political
tensions in Venezuela and Iran, and a drop in US
fuel stockpiles, contributed to the increase in oil
prices.

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
US$/oz.
Gold
Platinum

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Nickel US$/ton
Copper US$/ton
Copper
Nickel (RHS)

Figure 3: International crude oil prices
(US$/barrel)
Source: Bloomberg, 2019
MERCHANDISE TRADE
DEVELOPMENTS

Total merchandise trade for January 2019
amounted to US$629.4 million, down from
US$859.6 million recorded in December 2018.
The decline was on account of a slowdown in
both merchandise exports and imports.
Merchandise Export Developments
Merchandise exports declined by 19.8% to
US$292.6 million in January 2019, compared to
US$364.8 million recorded in the previous
month. This followed declines in exports of
flue-cured tobacco, ferro-chrome, chromium
ores & concentrates, diamonds, cotton and
platinum. Exports of gold and nickel mattes,
however, registered increases, during the period
under analysis.


1 Unwrought platinum excludes other platinum group of
metals (PGMs)
Figure 4: Merchandise Exports (US$ m)

Source: ZIMSTAT, 2019


Table 1 shows the major export commodities for
December 2018 and January 2019.


Table 1: Exports Classified by Harmonised
Commodity Description and Code System
Commodity
Dec-18
US$m
Jan-19
US$m
Share of
Total
Exports
(%)
Flue-cured tobacco
115.8
63.1
21.6
Semi-manufactured gold
64.4
64.5

Nickel mattes
49.4

19.2
Nickel ores and concentrates
35.9
35.6
12.2
Industrial diamonds
18.9
3.7
1.3
Ferro-chromium
18.9
14.9
5.1
Chromium ores and
concentrates
7.2
4.7
1.6
Cane sugar
6.8
4.3
1.5
Unwrought Platinum1
4.5
4.1
1.4
Ginned cotton
3.1
2.2
0.8
Other

39.5
13.5
Total
364.8
292.6

Source: ZIMSTAT, 2019 & RBZ Calculations, 2019

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
US$/barrel

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19

The
country’s
top
merchandise
export
destinations in January 2019 were as follows:
South Africa (53.1%); the United Arab Emirates
(14.4%), Mozambique (7.4%), Kenya (1.3%)
and Zambia (1.2%), as shown in Figure 5.
Figure 5: Top Five Merchandise Export
Destinations (% Share)

Source: ZIMSTAT, 2019 & RBZ Calculations, 2019
Merchandise Import Developments
During the month under review, merchandise
imports declined by 31.9% to US$336.8 million.
Energy imports (diesel, petrol and electricity)
accounted for the highest proportion of total
merchandise imports, at 29.7%.
Table 2 shows the country’s major import
commodities for the month of December 2018
and January 2019.


Table 2: Imports Classified by Harmonised
Commodity Description and Code
System.
Commodity
Dec-18
US$
Jan-19
US$
Share
of
Total
Imports
(%)
Diesel
78.1
60.6

Unleaded petrol
37.9
36.4
10.8
Aviation Spirit (Jet A1)

9.6
2.9
Wheat
10.8
7.6
2.3
Insecticides
3.4
4.9
1.5
Crude soya bean oil

4.6
1.4
Herbicides
8.7
3.8
1.1
Medicines
1.7
3.8
1.1
Electricity

2.9
0.9
Road tractors for semitrailers
4.3
2.3
0.7
Other
326.9
200.1
59.4
Total
494.7
336.8

Source: ZIMSTAT, 2019 & RBZ Calculations, 2019
The country sourced imports mainly from
Singapore, 30.6%; South Africa, 28.1%; China,
11.3%; United Kingdom, 4.4%; and Mauritius,
2.9%, as shown in Figure 6.


South Africa
United Arab Emirates
Mozambique
Kenya
Zambia

Figure 6: Top Five Merchandise Import
Sources (% Share).
Source: ZIMSTAT, 2019 & RBZ Calculations, 2019
Merchandise Trade Balance
The country’s merchandise trade deficit
narrowed by 65.97%, from US$129.9 million in
December 2018, to US$44.2 million in January
2019.


2 Provisional figures.
3 From November 2017, broad money adjusted by reclassification of
lines of credit that were incorrectly classified as deposits included in
Figure 7: Merchandise Trade Balance
(US$m)
Source: ZIMSTAT, 2019 & RBZ Computations, 2019
MONETARY DEVELOPMENTS2

Annual broad money supply3 growth increased
by 5.56 percentage points to 30.64% in January
2019, from 28.05% in January 2018. The growth
reflected an increase in broad money stock, from
$7 544.94 million in January 2018 to $9 857.03
million in January 2019.

The annual growth in money supply was, in
large part, attributable to expansions in demand
deposits, 37.97%; currency in circulation,
43.10%; and time deposits, 0.88%. This was
partially offset by the decline of 8.84% in
negotiable certificates of deposits (NCDs).

On a month-on-month basis, broad money
supply declined by 1.53%, from $10 009.91
million in December 2018 to $9 857.03 million
in January 2019.
broad money. This reduced the stock of money and at the same time
reducing the net foreign assets of other depository corporations.


South Africa
Singapore
China
United
Kingdom
Mauritius

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Exports
Imports
Trade Balance

Figure 8: Broad Money in Levels and
Growth Rates
Source: Reserve Bank of Zimbabwe, 2019

In terms of proportions, demand deposits
accounted for 79.71% of broad money; time
deposits, 14.88%; currency in circulation,
4.82%; and negotiable certificates of deposits,
0.60%.
Figure 9: Composition of Money Supply


Source: Reserve Bank of Zimbabwe, 2019
Credit to the private sector recorded an annual
growth of 9.41% in January 2019. On a monthon-month basis, however, credit to the private
sector declined by 3.61% to $3 912.30 million,
during the month under review.
Private sector credit was distributed as follows:
households, 25.52%; agriculture, 20.10%;
services,
13.72%;
distribution,
13.39%;
manufacturing, 9.78%; financial organisations
and investments, 6.65%; mining, 4.74%;
construction,
3.08%;
and
transport
and
communications, 2.39%.
Figure 10: Distribution of Private Sector
Credit
Source: Reserve Bank of Zimbabwe, 2019

STOCK MARKET DEVELOPMENTS

The Zimbabwe Stock Exchange (ZSE) was
characterized by bullish performance, during the
month of January 2019. Resultantly, the All
Share price Index firmed by 7.73% to close at
157.54 points. Similarly, the Top 10 Index also
rose by 9.14% points to close at 158.28 points.

-

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
%
$ Billions
M3
M3 Annual Growth rate
Demand
deposits
79.71%
Time
Deposits
14.88%
Currency in
Circulation
4.81%
Negotiable
Certificates of
Deposits
0.60%
Construction
3%
Transport and
Communication
2%
Mining
5%
Fin
Organ &
Invest
7%
Distrubution
13%
Services
14%
Manufacturing
10%
Agriculture
20%
Households
25%
Other
1%

Figure 11: Zimbabwe Stock Exchange All
Share and Top 10 Indices
Source: Zimbabwe Stock Exchange, 2019

The industrial index gained 7.96%, to close the
month under review at 525.90 points. The
mining index, however, shed 6.4% to close at
213.13 points, during the same month.

Figure 12: Zimbabwe Stock Exchange
Indicies
Source: Zimbabwe Stock Exchange, 2019

The volume of shares traded on the local bourse
declined by 14.36% to 122.78 million shares in
January 2019, from 143.37 million shares
traded in December 2018. The value of shares
traded, however, increased by 18.62% to
$110.28 million, from $92.97 million in
December 2018.

Figure 13: ZSE Monthly Volumes and
Values Traded

Source: Zimbabwe Stock Exchange, 2019
Foreign investor participation, as measured by
foreigners’ contribution to the value of shares
traded, stood at 36.81% in January 2019, up
from 30.36% in December 2018.
ZSE market capitalisation registered a US$1.46
billion gain, to close at US$20.89 billion in
January 2019. On a year-year-on year basis,
ZSE
market
capitalization
increased
by
141.41%.
INFLATION OUTTURN

Annual Inflation

The annual headline inflation increased by
14.81 percentage points to 56.90% in January
2019, from 42.09% in December 2018. This was

31-Jan-18
28-Feb-18
31-Mar-18
30-Apr-18
31-May-18
30-Jun-18
31-Jul-18
31-Aug-18
30-Sep-18
31-Oct-18
30-Nov-18
31-Dec-18
31-Jan-19
Top 10 Index
All Share Index
All Share Index
Top 10 Index

Mining Index Points
Industrial Inedx Points
Industrial
Mining

1,000
1,100
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Values Traded ($ millions)
Volumes Traded (milions)
Volume
Turnover

driven by increases in food and non-food
inflation of 63.70% and 53.60%, respectively.
The rise in both food and non-food inflation was
largely attributed to escalating parallel market
foreign currency premiums.

The largest contributors to annual inflation were
transport, furniture and household equipment;
transport; and clothing and footwear categories,
among others.

Figure 14: Annual Inflation (%)
Source: ZIMSTAT, 2019

Monthly Inflation

Month-on-month inflation stood at 10.75% in
January 2019, an increase of 1.72 percentage
points from 9.03% recorded in December 2018.
The increase was largely driven by an
acceleration in non-food inflation which stood
at 12.83% in January 2019, up from 9.01% in
December 2018. Food inflation, however,
declined from 9.07% in December 2018, to
6.94% in January 2019.

Figure 15: Month-on-Month Inflation (%)
Source: ZIMSTAT, 2019

NATIONAL PAYMENTS SYSTEM


The value of transactions processed through the
National Payment System (NPS) declined by
15.6% to US$13.57 billion in January 2019,
from US$16.09 billion in December 2018.
Transaction volumes also recorded a decrease of
7.2% to close at 178.28 million in January 2019,
from 192.03 million in December 2018.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)
The value of transactions processed through the
Real Time Gross Settlement (RTGS) system fell
by 17.4%, from US$8.36 billion in December
2018 to US$6.9 billion in January 2019. In
tandem, the volume of RTGS transactions also
registered a 16.1% decline, to close at 401,520
transactions in the same period.

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Headline Inflation
Food
Non Food

Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19

Figure 16: ZETSS Volumes and Values

Source: Reserve Bank of Zimbabwe, 2019

Cash transactions

The value of cash based transactions stood at
US$254.13 million in January 2019, a 22.3%
decline from US$327.47 million recorded in
December 2018.


Mobile and Internet Based Transactions
Mobile and internet value based transactions
declined by 21.4% to $4.67 billion as at end of
January 2019, from $5.94 billion in December
2018. The volume of mobile and internet based
transactions
constituted
76.22%
of
NPS
transactions, during the period under analysis.

Card Based Transactions
The total value of card based transactions
amounted to US$1.29 billion in January 2019,
up from US$917 million in December 2018.


JANUARY 2019
RESERVE BANK OF ZIMBABWE


Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Value in $ Billions
Volume in Thousands
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 Market Statistics

13. National Payments System Statistics


13.1 Values of Transactions

13.2 Volumes of Transactions

14. Merchandise Trade Statistics

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
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

Central Bank

ODCs

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

Deposits and Securities Excluded from Base Money

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad Money

Broad Money-M2

Other Deposits

Narrow Money-M1

Transferable Deposits

Currency Outside Depository Corporations

Source: Reserve Bank of Zimbabwe,2019
Notes:
(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.
(ix) In December 2017, the statistics were adjusted in restrospect by reclassifying Securities issued under Aftrades from claims on government to claims on central bank
(x) In December 2017, the statistics were adjusted in restrospect by reclassifying amounts accessed by banks under the Aftrades from liabilities to Other Depository corporations and Other Financial Corporations to liabilities to Central Bank
(xi) In December 2018, statistics were revised from November 2017 due to reclassification of lines of credit (foreign liabilities) that were initially classified as deposits included in broad money
TABLE 1: DEPOSITORY CORPORATIONS SURVEY (US$ '000)

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
MOM
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

Loans

Loans and Advances

Legacy Debt

Export Incentives

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Of which: Loans

Other Liabilities to ODCs

Of which: Aftrades Balances

Securities

Other Items(Net)

Shares and Other Equity

Other Items(Net)

Liabilities to Other Resident Sectors

Deposits and Securities Excluded from Base Money

Monetary Base Incl. foreign currency clearing balances
Monetary Base

Bond Coins

Bond Notes

Liabilities to ODCs

Reserve Deposits

Other

Private Deposits

Source: Reserve Bank of Zimbabwe,2019
TABLE 2: CENTRAL BANK SURVEY (US$'000)

Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
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)
7,350,474.82

7,334,429.96

7,472,096.38

7,624,121.15

8,098,814.54

8,741,831.36

9,132,705.19


Domestic Claims
6,089,519.31

6,074,476.43

6,266,910.56

6,437,720.58

6,745,532.52

6,989,263.27

7,168,985.87


Net Claims on Central Government
2,254,980.79

2,236,425.85

2,339,300.34

2,476,778.04

2,715,985.15

2,783,534.43

3,262,756.31


Claims on Central Government
2,362,310.40

2,337,663.61

2,453,993.46

2,572,350.40

2,823,354.57

2,872,745.05

3,295,887.08


Securities
2,335,991.08

2,313,377.59

2,434,830.12

2,558,912.76

2,814,916.90

2,865,309.79

3,291,375.03


Loans
26,319.33

24,286.02

19,163.34

13,437.64

8,437.68

7,435.26

4,512.05


Other
-

-

-

-

-

-

-

-

-

-

-

-

-

Less Liabilities to Central Government
107,329.61

101,237.76

114,693.11

95,572.36

107,369.43

89,210.62

33,130.77


Of which: Deposits
107,329.61

101,237.76

114,693.11

95,572.36

107,369.43

89,210.62

33,130.77


Other

Claims on Other Sectors
3,834,538.52

3,838,050.58

3,927,610.21

3,960,942.53

4,029,547.37

4,205,728.83

3,906,229.56


Other Financial Corporations
39,312.14

41,416.20

47,078.39

47,272.71

36,981.14

42,406.27

43,993.11


State and Local Government
55,046.17

54,613.41

48,750.40

52,851.54

51,746.27

49,509.94

54,356.85


Public Non Financial Corporations
178,716.82

168,887.22

150,967.31

145,902.98

159,350.37

222,545.56

181,987.35


Private Sector
3,561,463.40

3,573,133.75

3,680,814.12

3,714,915.30

3,781,469.60

3,891,267.06

3,625,892.25


Claims on the Central Bank
2,551,893.63

2,536,743.85

2,474,448.22

2,438,430.82

2,557,149.58

3,089,939.84

3,471,170.30


Currency
23,415.822

19,969.614

16,707.478

14,888.726

14,154.729

8,986.260

20,609.732


Other Claims including Reserves
2,528,477.81

2,516,774.24

2,457,740.74

2,423,542.10

2,542,994.86

3,080,953.58

3,450,560.57


Liabilities to the Central Bank
115,100.80

111,232.81

140,468.21

82,369.89

101,470.93

119,810.71

118,944.97


Other Items(Net)
1,175,837.32

1,165,557.51

1,128,794.20

1,169,660.36

1,102,396.63

1,217,561.04

1,388,506.01


Shares and Other Equity
1,506,470.99

1,528,732.27

1,555,909.88

1,542,636.03

1,574,043.84

1,632,378.01

1,758,871.23


Liabilities to other ressident sectors
2,600.12

2,920.26

6,906.82

16,085.12

19,885.58

21,559.36

32,602.91


Other Items(Net)
(333,233.80)

(366,095.02)

(434,022.51)

(389,060.79)

(491,532.80)

(436,376.33)

(402,968.13)


Deposits and Securities Included in Broad Mone
7,164,389.60

7,154,183.07

7,308,552.27

7,432,774.94

7,841,481.27

8,451,064.87

8,908,463.53


Deposits Included in Broad Money
7,099,333.40

7,078,828.80

7,231,240.46

7,348,810.03

7,753,466.00

8,384,220.79

8,818,964.20

8,892,333.01

9,192,282.61

9,163,326.94

9,179,384.09

9,432,073.48

9,249,189.49

Transferable Deposits


7,782,391.98

Money Market Instruments
65,056.19

75,354.27

77,311.81

83,964.91

88,015.27

66,844.08

89,499.33

66,484.46

52,419.97

61,703.77

50,864.73

58,584.04

59,302.10

Source:Reserve Bank of Zimbabwe,2019
TABLE 3 : OTHER DEPOSITORY CORPORATIONS SURVEY ( US '000)

Foreign
TOTAL
End of
Notes
Bond
&
Balances
Balances with
Balances
Other Claims
Local
Other
Notes &
Coin
with
Other Depository
with
on
Government
1 Governemt
Other

Government
Local
Public
Institutional
Other cliams
Contigent Assets
Other Assets
Non Financial
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities
Government
Enterprises
Units
Assets

Jan
20.2

111.0

1,455.0

239.8

132.7


Feb
19.3

96.8

1,488.5

251.8

145.1


Mar
12.6

66.4

1,485.9

260.5

154.9


Apr
10.7

67.8

1,495.2

249.4

219.3


May
13.4

56.9

1,492.4

272.5

170.2


Jun
7.4

57.1

1,674.9

350.3

92.1


Jul
7.1

45.2

1,807.4

302.3

63.1


Aug
12.3

40.6

2,061.9

276.6

165.3


Sep
12.0

38.1

2,110.4

226.8

179.7


Oct
8.7

41.8

2,139.3

254.1

190.8


Nov
9.8

46.1

2,315.5

289.8

184.2


Dec
12.6

58.1

2,592.0

276.0

213.4


Jan
23.4

66.9

2,528.5

291.2

111.9


Feb
20.0

46.8

2,516.8

347.6

114.2


Mar
16.7

57.9

2,457.7

312.8

139.2


Apr
14.9

61.9

2,423.5

337.0

120.8


May
14.2

71.7

2,543.0

477.8

138.6


Jun
9.0

58.5

3,081.0

509.8

120.0


Jul
20.6

61.9

3,450.6

466.4

111.6


Aug
23.1

72.3

3,475.7

377.8

105.3


Sep
18.2

61.5

3,781.6

398.1

159.1


Oct
39.9

70.4

3,771.3

368.3

185.5


Nov
30.6

84.6

3,696.3

300.6

209.8


Dec
20.5

94.5

3,949.5

439.6

235.5


Jan
49.0

113.4

3,901.0

401.9

261.6


Source:Reserve Bank of Zimbabwe,2019
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.
Public
Enterprises
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

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe,2019
TABLE 4.2 : 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
Government

Local Governemt
Public Enterprises
Other

Government
Government
Enterprises
Institutional Units

Other claims
Assets
Other Assets
Assets
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
17.7

103.8

1,322.4

81.9

128.2

27.0

1,485.0

-

15.4

3.6

15.9

15.1

68.6

2,467.7

53.9

395.7

251.9

479.3

6,933.1

Feb
16.3

89.4

1,396.1

96.1

137.3

48.6

1,502.5

-

15.5

3.2

15.0

14.9

68.2

2,238.9

239.7

398.5

266.0

480.1

7,026.4

Mar
10.7

63.3

1,421.4

83.2

150.7

53.5

1,578.7

-

15.7

3.8

15.7

15.7

69.9

2,554.3

23.7

422.4

314.5

484.0

7,281.0

Apr
9.8

64.1

1,383.4

75.9

209.0

51.4

1,744.4

-

15.8

3.6

15.8

16.9

74.0

2,493.3

26.4

489.1

263.7

492.6

7,429.3

May
12.4

52.6

1,376.3

119.9

159.1

75.3

1,739.8

-

15.7

33.6

16.7

16.3

72.4

2,528.3

28.4

486.1

290.7

492.0

7,515.6

Jun
7.0

53.3

1,578.5

141.4

82.2

110.6

1,786.8

-

16.0

35.0

47.9

16.5

82.2

2,583.5

23.9

533.5

273.6

497.3

7,869.2

Jul
6.7

40.9

1,684.5

137.6

53.7

103.6

1,752.4

-

26.1

34.4

45.2

16.9

116.3

2,495.4

24.2

513.6

295.5

482.1

7,829.0

Aug
11.8

37.1

1,882.4

124.3

161.2

7.9

1,856.2

-

26.3

64.6

41.3

18.0

145.0

2,538.1

23.8

531.8

272.6

485.7

8,228.1

Sep
11.4

35.8

1,961.8

109.6

172.7

31.3

1,998.0

-

23.5

65.0

41.5

15.6

118.2

2,585.7

28.3

472.8

281.3

487.7

8,440.0

Oct
8.1

40.5

1,961.8

143.7

175.7

61.0

2,106.6

-

24.4

65.1

34.8

17.8

99.1

2,607.0

29.4

432.4

287.8

508.9

8,604.1

Nov
9.0

45.1

2,126.7

161.1

174.7

74.3

2,230.4

-

23.5

65.4

32.3

19.6

106.9

2,618.1

26.4

417.7

324.2

511.4

8,966.9

Dec
11.4

55.3

2,373.9

141.5

203.5

66.6

2,128.7

-

23.5

66.3

29.4

19.4

145.0

2,579.8

40.0

508.3

324.5

536.4

9,253.6

Jan
22.4

64.1

2,294.5

192.1

103.4

81.9

2,143.2

-

23.5

65.9

26.3

20.6

154.8

2,451.1

28.7

501.0

294.2

538.9

9,006.6

Feb
18.3

44.0

2,296.8

223.7

108.3

96.2

2,109.3

-

23.5

66.1

24.3

21.1

145.0

2,461.5

28.7

507.8

290.6

536.3

9,001.5

Mar
14.8

53.6

2,238.8

240.7

124.5

99.5

2,164.0

-

23.5

66.7

19.2

15.9

127.1

2,535.8

30.4

504.1

325.8

552.3

9,136.6

Apr
13.5

56.7

2,207.9

275.0

116.7

78.5

2,314.9

-

24.7

67.0

13.4

20.9

120.8

2,519.8

28.3

532.0

299.0

554.9

9,244.0

May
12.9

62.8

2,309.0

339.5

130.1

85.7

2,562.4

-

25.0

66.9

8.4

20.9

134.0

2,556.2

23.9

458.9

307.9

555.3

9,659.8

June
7.5

52.6

2,848.5

331.8

117.3

84.1

2,538.3

-

26.2

66.5

7.4

19.4

196.0

2,662.2

25.5

551.4

302.9

563.4

10,401.0

July
17.9

54.3

3,189.6

281.1

109.3

95.4

2,949.2

-

-

67.5

4.5

21.0

182.0

2,414.6

26.0

611.4

322.5

565.1

10,911.4

Aug
21.0

67.8

3,196.7

232.3

102.5

66.3

3,014.9

-

-

67.3

7.1

20.6

186.7

2,491.0

29.8

647.7

329.4

566.3

11,047.4

Sep
16.3

58.2

3,487.9

305.3

137.8

78.0

2,789.8

-

45.2

68.1

5.4

20.4

212.2

2,577.1

36.7

637.4

357.4

571.8

11,405.0

Oct
33.1

68.0

3,505.8

272.1

173.1

51.4

2,728.8

-

45.2

68.4

4.6

9.4

188.8

2,697.4

38.7

647.5

353.2

569.2

11,454.9

Nov
25.8

81.4

3,384.4

264.6

198.2

63.9

2,793.9

-

45.2

68.7

7.0

8.1

217.7

2,672.3

46.1

633.2

406.6

569.8

11,486.9

Dec
18.2

89.9

3,737.0

317.3

224.4

74.8

2,633.7

-

43.4

69.2

6.2

9.2

204.3

2,707.6

53.7

573.8

406.2

633.9

11,802.7

Jan
42.05

106.91

3,766.70

338.09

249.77

46.14

2,621.20

-

61.02

68.66

4.41

8.06

189.15

2,594.53

33.84

517.24

428.82

649.94

11,726.5

Source:Reserve Bank of Zimbabwe,2019
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

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe,2019
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

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

Jan
2.4

7.0

109.6

157.7

4.3

-

123.7

20.8

-

-

389.1

-

406.1

106.3

124.4

1,451.4

Feb
1.2

7.3

69.3

155.6

7.4

-

162.0

20.1

-

-

394.4

-

410.1

109.0

124.2

1,460.4

Mar
1.6

3.1

35.5

177.2

4.0

-

164.2

18.7

-

-

404.4

-

413.0

102.8

124.2

1,448.6

Apr
0.7

3.6

73.4

173.3

9.8

-

158.6

17.8

-

-

392.5

-

432.3

109.7

125.1

1,496.8

May
0.9

3.9

81.5

152.3

10.8

-

168.2

20.3

-

-

394.4

-

451.1

105.9

126.1

1,515.4

Jun
0.3

3.7

65.9

208.8

9.8

-

165.3

19.0

-

-

387.6

-

452.9

109.6

126.0

1,548.8

Jul
0.4

3.9

105.8

164.6

9.2

-

168.4

17.2

-

-

391.9

-

451.9

110.9

127.3

1,551.5

Aug
0.4

3.1

142.8

152.0

3.9

-

186.7

16.3

-

-

409.3

-

465.5

104.7

127.2

1,611.9

Sep
0.6

1.8

108.4

117.0

6.7

-

193.0

16.1

-

-

412.7

-

475.2

113.4

130.1

1,574.8

Oct
0.6

1.1

145.7

110.0

14.8

-

193.9

15.4

-

-

420.7

-

493.6

149.9

130.4

1,676.0

Nov
0.7

0.9

138.8

128.4

8.7

-

193.6

18.8

-

-

420.9

-

489.0

160.4

133.0

1,693.3

Dec
1.0

2.6

170.6

134.3

9.1

-

195.1

26.8

-

-

402.3

-

516.8

163.2

135.5

1,757.3

Jan
0.9

2.3

197.4

98.7

7.8

-

129.8

34.5

-

-

413.2

-

508.7

144.9

136.1

1,674.3

Feb
1.5

1.8

172.4

123.5

5.5

-

141.3

33.5

-

-

414.8

-

507.9

125.7

135.7

1,663.6

Mar
1.4

3.4

175.9

72.1

14.1

-

212.6

32.8

-

-

411.4

-

539.4

142.8

132.3

1,738.2

Apr
1.1

4.3

185.5

61.9

3.6

-

184.4

32.0

-

-

413.3

-

582.7

141.6

135.2

1,745.7

May
1.0

7.6

196.3

138.2

8.1

-

191.0

30.9

-

-

415.0

-

608.4

128.1

137.4

1,862.0

June
1.2

4.9

188.6

177.8

1.9

-

266.2

30.1

-

-

413.9

-

614.3

124.0

141.5

1,964.5

July
1.8

6.6

207.1

185.1

1.7

-

283.2

33.3

-

-

423.5

-

636.1

128.2

141.1

2,047.7

Aug
1.6

3.7

224.7

145.3

2.4

-

288.9

32.2

-

-

428.2

-

579.4

139.1

143.7

1,989.2

Sep
1.9

2.9

245.6

92.6

20.8

-

291.1

31.2

-

-

430.3

-

650.2

148.1

144.4

2,059.1

Oct
4.9

2.1

220.0

95.8

11.9

-

318.9

30.2

-

-

427.7

-

639.8

154.2

147.0

2,052.5

Nov
3.6

2.9

243.3

35.7

10.4

-

320.7

28.9

-

-

433.5

-

635.7

148.0

145.8

2,008.5

Dec
2.3

4.3

157.4

121.3

10.4

-

339.4

28.0

-

-

444.8

-

645.9

179.7

151.9

2,085.6

Jan
6.3

4.6
108.2

63.5
10.9

0.0
343.8

27.3
33.6

0.0
438.0

0.0
649.3

136.7
151.2

1973.3
Source:Reserve Bank of Zimbabwe,2019
TABLE 6.1: BUILDING SOCIETIES -ASSETS
US$ millions
Debt Securities
Loans and Advances

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

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe,2019
Amounts Owing to
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
US$ millions

AGRICULTURE
CONSTRUCTION COMMUNICATION
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe,2019
/1 Including the only merchant bank still in operation.
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1
US$ ('000)

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

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source: Reserve Bank of Zimbabwe,2019
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
US$ ('000)

End of
Nominal Lending
Rates 1
Individuals
Corporate

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
Jul
4.00-18.00
8.94
7.05
Aug
4.00-18.00
8.88
6.95
Sep
4.45-18.00
8.86
7.01
Oct
4.45-18.00
9.66
7.06
Nov
4.45-18.00
9.66
7.03
Dec
4.45-18.00
9.39
7.00

Jan
4.45-18.00
9.33
6.99
Feb
4.45-18.00
9.57
6.93
Mar
4.45-18.00
9.64
6.98
Apr
4.00-18.00
9.32
7.08
May
4.00-18.00
9.28
7.09
Jun
4.00-18.00
9.32
7.14
Jul
4.00-18.00
9.75
6.97
Aug
4.00-18.00
9.87
7.10
Sep
4.00-18.00
9.56
7.11
Oct
4.00-18.00
9.47
7.38
Nov
4.00-18.00
9.49
7.38
Dec
4.00-18.00
9.48
7.39

Jan
4.00-18.00
9.47
7.40
Source:Reserve Bank of Zimbabwe, 2019
Notes
TABLE 8.1: LENDING RATES (percent per annum)
1. Nominal lending rates depict the range of rates quoted by banks.
Commercial Banks
Weighted Lending Rates

END OF
SAVINGS
3 MONTHS

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
Jul
0.50-6.00
1.00-12.00
Aug
0.50-6.00
1.00-12.00
Sep
0.50-12.00
0.75-8.00
Oct
0.50-12.00
0.75-8.00
Nov
0.50-12.00
0.75-8.00
Dec
0.50-12.00
0.75-8.00

Jan
0.22-12.00
0.75-8.00
Feb
0.22-12.00
0.75-8.00
Mar
0.22-12.00
0.75-8.00
Apr
0.22-12.00
0.75-8.00
May
0.22-12.00
0.75-8.00
Jun
0.22-12.00
0.75-8.00
Jul
0.22-12.00
0.75-8.00
Aug
0.22-12.00
0.75-8.00
Sep
0.22-12.00
0.75-8.00
Oct
0.22-12.00
0.75-8.00
Nov
0.22-12.00
1.00-8.00
Dec
0.22-12.00
1.00-6.75

Jan
0.22-12.00
1.00-8.00
Source:Reserve Bank of Zimbabwe, 2019
* Deposit rates depict the range of rates qouted by banks.
**Banks have adjusted their costs of holding deposits following the call by the RBZ to reduce lending rates.
TABLE 8.2 : BANK DEPOSIT RATES (percent per annum)
COMMERCIAL BANKS

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


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Zimstat, 2019
FOOD & NON
ALCOHOLIC
BEVERAGES
ALL
ITEMS
TABLE 9.1 : MONTHLY INFLATION - % 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
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Zimstat, 2019
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(December 2012 = 100)
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

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
1,348
2,040
1,286


Supplier's Credits

Reserve Bank

1,300

1,374
Private


Total External Debt

Source: Ministry of Finance & Economic Development, 2019; & Reserve Bank of Zimbabwe, 2019
TABLE 10: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)

SOUTH ARFICAN
BOTSWANA
JAPANESE
EURO/2
POUND
END OF
RAND/1
PULA/1
YEN/1
STERLING/2

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source: Reserve Bank of Zimbabwe, 2019
TABLE 11 : SELECTED INTERNATIONAL EXCHANGE RATES

Market Capitalisation
END OF
All Share*
US$ millions

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Zimbabwe Stock Exchange ,2019
*All Share index was introduced in January 2018
TABLE 12: ZIMBABWE STOCK MARKET STATISTICS
Industrial
Market Turnover
US$ million
Volume of Shares
Mining
Indices

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE

INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source:Reserve Bank of Zimbabwe, 2019
TABLE 13.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (US$ millions)

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan
350.0
26.7
12,756.3 1,173.6 27,550.1 191.0
Feb
326.3
27.8
8,952.0 953.5 26,820.1 207.0
Mar
414.2
31.0
11,124.0 922.2 35,604.1 244.1
Apr
363.7
21.6
13,595.5 652.9 40,089.0 231.0
May
531.8
27.8
16,623.4 820.6 47,019.1 323.3
Jun
525.0
29.3
17,466.2 696.9 53,738.1 342.1
Jul
521.8
30.0
20,013.7 636.1 61,162.4 382.6
Aug
541.5
26.6
20,303.0 595.6 70,771.6 419.1
Sep
620.0
27.2
20,731.0 478.0 83,303.0 432.0
Oct
609.6
27.2
23,764.6 475.1 92,540.6 478.9
Nov
575.3
25.6
22,748.6 347.3 97,945.2 473.0
Dec
524.2
19.2
26,779.1 347.2 118,198.9 524.8
Annual Total
5,903.4
320.1
214,857.4 8,099.0 754,742.1 4,248.84

Jan
548.1
22.7
20,981.2 449.6 100,593.9 501.8
Feb
457.2
22.5
18,869.0 292.2 89,584.3 463.8
Mar
545.2
23.7
21,996.8 268.4 116,120.0 510.5
Apr
505.5
17.4
21,170.0 253.6 117,616.8 457.0
May
611.1
21.2
23,278.2 213.2 137,423.0 496.6
Jun
553.6
22.5
23,790.0 175.2 156,609.8 502.2
Jul
560.2
20.1
25,075.5 223.1 169,416.8 559.6
Aug
553.0
15.1
25,249.9 317.4 164,918.0 518.7
Sep
543.0
19.4
24,918.0 300.8 161,289.5 511.3
Oct
571.6
20.4
21,025.4 345.5 161,427.4 496.0
Nov
477.4
16.7
17,845.4 334.9 133,862.1 430.6
Dec
478.6
13.0
27,419.1 236.2 161,540.7 409.1

Jan
401.5
12.2
40,613.8 232.6 135,481.1 413.4
Source:Reserve Bank of Zimbabwe, 2019
TABLE 13.2 : ZETSS AND RETAIL PAYMENTS
Volumes of Transactions (000's)

END OF
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

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Source: Zimstat, 2019
TABLE 14 : MERCHANDISE TRADE STATISTICS
(US$ millions)