i


FEBRUARY 2019

TABLE OF CONTENTS


January

February
Month-on-
Month
Change (%)
Yearly Inflation3 (%)
56.90
59.40
-
Monthly Inflation3 (%)
10.75
1.67
-
National Payment System Transactions2
(US$ millions)
13 575.37
15 286.08
12.6
Money Supply2 (US$ millions)
9 857.02
10 389.30
5.40
Money Supply (M3) Annual Growth2 (%)
30.64
37.15
-
Nominal Lending Rate2 (% per annum)
4.00-18.00
4.00-18.00
-
Merchandise Exports3 (US$ millions)
292.6
348.4
19.1
Merchandise Imports3 (US$ millions)
336.8
370.5

Trade Balance3 (US$ millions)
-44.2
-22.1
50.0
Z.S.E All share Index
157.54
148.11
-5.99
Z.S.E. Mining Index1
213.13
207.03
-2.86
Z.S.E. Industrial Index1
525.90
494.31
-6.01
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

The international commodity prices of crude oil,
precious metals and base metals continued to
firm, during the month of February 2019. A
positive investment demand outlook, coupled
with global supply constraints, contributed to
the surge in the prices.

Precious Metals
Precious metal prices continued on an upward
trend, with gold firming by 1.9%, from
US$1,291.67/oz in the previous month, to
$1,315.97/oz in February 2019. Similarly,
platinum prices increased from US$805.83/oz
in January 2019 to $813.16/oz in Febuary 2019.
The increase in demand for the precious metals
was on account of a weakening US dollar.

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

Base Metals
The anticipated positive outcome from the US
and China trade talks boosted base metal prices.
Resultantly, copper prices increased by 5.5% to
$6,290.56/tonne.
Supply
constraints
in
Indonesia, one of the world top nickel
producers, further boosted nickel prices, which
rose by 10.2% to US$12,669.83/tonne, during
the month under review.

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


Brent Crude Oil
Brent crude oil prices closed the month under
review
at
US$64.33/barrel,
up
from
US$60.21/barrel in January 2019. The increase
was due to low oil production in the US.

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

Feb-18
Apr-18
Jun-18
Aug-18
Oct-18
Dec-18
Feb-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 stood at US$718.9
million in February 2019, a 14.2% increase from
US$629.3 million recorded in January 2019.
The increase was on account of increases in both
merchandise exports and imports.
Merchandise Exports
Mechandise exports increased by 19.07% to
US$348.8 million in February 2019, from
US$292.6 million in January 2019. This
followed increases in exports of gold, tobacco,
diamonds and sugar. Nickel mattes, ores and
concentrates, chromium ores and concentrates
and
other
unwrought
platinum
exports,
however, declined during the month under
review.


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

Source: ZIMSTAT, 2019

Flue-cured tobacco, semi-processed gold, nickel
(mattes, ores and concentrates) and industrial
diamonds dominated the country’s exports,
contributing about 77% of total exports.

Table 1: Exports Classified by Harmonised
Commodity Description and Code System


Share of
Total
Exports
(%)
Commodity
Jan-19
Feb-19

US$m
US$m
Flue-cured tobacco (Virginia
type)
63.1
83.8
24.1
Semi-manufactured gold
64.5
82.8
23.8
Nickel mattes

52.2

Nickel ores and concentrates
35.6

9.8
Ferro-chromium
14.9
14.9
4.3
Industrial diamonds
3.7
11.5
3.3
Cane sugar
4.3
11.3
3.2
Other precious minerals
4.1
8.2
2.3
Ginned cotton
2.2
5.3
1.5
Chromium ores and
concentrates
4.7
3.6

Unwrought Platinum1
4.1
3.5

Other
35.4
37.2
10.7
Total
292.6
348.4

Source: ZIMSTAT, 2018 & 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
Feb-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
Feb-19

The country’s mechandise exports were mainly
destined to South Africa (48.7%); the United
Arab Emirates (19.8%); Mozambique (8.2%);
Belgium (2.8%); and Kenya (1.3%), as shown in
Figure 5.
Figure 5: Top Five Merchandise Export
Destinations (%Share)

Source: ZIMSTAT, 2019 & RBZ Calculations, 2019
Merchandise Imports
Merchandise imports increased by 10% to
US$370.5 in February 2019, from US$336
million in January 2019. Fuel and electricity
imports
accounted
for
25.1%
of
total
merchandise imports. Food imports, which
largely comprised of crude soyabean oil, rice
and wheat constituted, 1.6%; 1%; and 0.9% of
total merchandise imports.

Table 2 shows the country’s major import
commodities for January 2019 and February
2019.


Table 2: Imports Classified by Harmonised
Commodity Description and Code
System
Commodity
Jan-19
US$m
Feb-19
US$m
Share
of
total
Imports
(%)
Diesel
60.6
59.3

Unleaded petrol
36.4
30.2
8.2
Road tractors for semitrailers
2.3
8.9
2.4
Crude soya bean oil
4.6
5.8
1.6
Motor Vehicles (Goods)
5.4
5.3
1.4
Medicines (Chronic illness)

5.2
1.4
Vehicles (Front Loaders)
3.1
3.7
1.0
Rice
1.3
3.5
1.0
Electricity
2.9
3.2
0.9
Wheat
7.6
3.2
0.9
Other
212.4
242.2
65.4
Total
336.7
370.5

Source: ZIMSTAT, 2019 & RBZ Calculations, 2019
The country sourced imports mainly from South
Africa, 37.5%; Singapore, 24.4%; China, 8.8%;
India, 3.3%; and Mauritius, 2.3%, as shown in
Figure 6.


South Africa
United Arab Emirates
Mozambique
Belgium
Kenya

Figure 6: Top Five Merchandise Import
Sources (% Share).
Source: ZIMSTAT, 2019 & RBZ Calculations, 2019
Merchandise Trade Balance
The merchandise trade developments during the
month under review resulted in a trade deficit of
US$22.1 million. This was 49.9% lower than the
US$44.2 million trade deficit recorded in
January 2019.
Figure 7: Merchandise Trade Balance
(US$m)
Source: ZIMSTAT, 2019 & RBZ Computations, 2019

2 Provisional figures
MONETARY DEVELOPMENTS2

Annual broad money supply grew by 37.94% to
$10 398.30 in February 2019, from $7 531.61 in
February 2018. This reflected increases in
currency in circulation of 39.82%; transferable
deposits, 47.92%; and time deposits, 0.99%. A
decline of 4.73% in negotiable certificates of
deposits (NCDs), partially offset the increases in
the other components of broad money.

Month-on-month, broad money supply grew by
5.4%, from $9 857.02 million in January 2019.

Figure 8: Broad Money Supply in Levels
and Growth Rates
Source: Reserve Bank of Zimbabwe, 2018
Broad money was made up of demand deposits
80.66%; time deposits, 14.18%; currency in
circulation, 4.47%; and negotiable certificates
of deposits, 0.69%.


South Africa
Singapore
China
India
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
Feb-19
Exports
Imports
Trade Balance

-

Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
%
$ Billions
M3
M3 Annual Growth rate

Figure 9: Composition of Money Supply


Source: Reserve Bank of Zimbabwe, 2019
Annual credit to the private sector grew by
13.5% in February 2019, compared to an annual
growth of 9.41% in January 2019. Monthly
credit to the private sector increased by 3.75%,
from $3 912.30 million in January 2019 to $4
058.93 million in February 2019.
On a sectorial basis, the distribution of private
sector credit was as follows: households,
25.53%; agriculture, 20.68%; services, 15.53%;
distribution, 13.98%; manufacturing, 10.02%;
financial organisations and investments, 3.78%;
mining, 4.93%; construction, 3.13%; and
transport and communications, 2.05%.


Figure 10: Distribution of Private Sector
Credit
Source: Reserve Bank of Zimbabwe, 2019
STOCK MARKET DEVELOPMENTS

Bearish investor sentiment persisted on the
Zimbabwe Stock Exchange (ZSE), during the
month of February 2019. Resultantly, the All
Share price Index registered a 5.99% decline,
from 149.33 points in January 2019 to 148.11
points in February 2019. Similarly, the Top 10
Index declined by 8.09%, to close at 145.47
points in February 2019.


Demand
deposits
80.66%
Time
Deposits
14.18%
Currency in
Circulation
4.47%
Negotiable
Certificates of
Deposits
0.69%
Construction
3%
Transport and
Communication
2%
Mining
5%
Fin
Organ &
Invest
4%
Distrubution
14%
Services
15%
Manufacturing
10%
Agriculture
21%
Households
26%
Other
0%

Figure 11: Zimbabwe Stock Exchange All
Share and Top 10 Indices
Source: Zimbabwe Stock Exchange, 2019
The industrial index decreased by 6.01%, from
525.90 points in January 2019 to 494.31 points
during the month under review. Similarly, the
mining index shed 2.86%, to close the month of
February 2019 at 207.03 points.
Figure 12: Zimbabwe Stock Exchange
Indices
Source: Zimbabwe Stock Exchange, 2019
ZSE share trading volumes stood at 229.94
million in February 2019, up from 122.78
million shares traded in January 2019. The value
of shares traded increased by 1.68%, from
US$110.28 million in January 2019 to
US$295.84 million, during the month under
review.
Figure 13: ZSE Monthly Volumes and
Values Traded

Source: Zimbabwe Stock Exchange, 2019
ZSE market capitalisation declined by 5.34% to
$19.77 billion in February 2019, from $20.89
billion in the previous month.
INFLATION OUTTURN

Annual Inflation

Annual headline inflation stood at 59.40% in
February 2019, up from 56.90% in January
2019. This was attributed to increases in food
and non-food inflation of 69.84% and 54.35%,
respectively.


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

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

Monthly Inflation

Monthly inflation declined to 1.67% in February
2019, from 10.75% in January 2019. This was
on account of decelarations in both food and
non-food inflation.
Month-on-month
non-food
inflation
decelerated from 12.83% in January 2019 to
0.70% in February. The non-food inflation
categories that contributed to the lower increase
in month-on-month inflation were transport,
alcoholic beverages, furniture and household
equipment.
Monthly food inflation also decelerated by 3.38
percentage points to 3.56% in February 2019,
from to 6.94% recorded in January 2019.

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

NATIONAL PAYMENTS SYSTEM


The National Payment System (NPS) processed
transactions amounting to $15.3 billion in
February 2019, a 12.6% increase from $13.6
billion worth of transactions processed during
the previous month. Transaction volumes stood
at 149.6 million in February 2019, a decline of
16.1% from the 178.38 million recorded in the
previous month.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)
During the month of February 2019, the value
of transactions processed through the RTGS
system stood at US8.3 billion, up from US$6.9
billion. RTGS transaction volumes increased by
13.7% to 456,537 transactions in February
2019, from 401,514 transactions in the previous
month.

Feb-18
Apr-18
Jun-18
Aug-18
Oct-18
Dec-18
Feb-19
Headline Inflation
Food
Non Food

Feb-18
Apr-18
Jun-18
Aug-18
Oct-18
Dec-18
Feb-19

Figure 16: ZETSS Volumes and Values

Source: Reserve Bank of Zimbabwe, 2019

Cash transactions

Cash based transactions increased to 328.45
million in February 2019, representing a 29.2%
surge from 254.13 million recorded in the
previous month.


Mobile and Internet Based Transactions
The value of mobile and internet based
transactions rose by 0.5% to $4.69 billion as at
end February 2019, from $4.67 billion in
January 2019. Mobile and internet based
transaction volumes stood at 119.54 million
transactions, during the month under review.
Card Based Transactions
Card based transactions stood at $1.33 billion
in February 2019, up from $1.29 billion
recorded in January 2019.
Cheque Transactions
Cheque transactions increased by 39.5% to 4.04
million in February 2019, from 2.89 million in
January 2019.


FEBRUARY 2019
RESERVE BANK OF ZIMBABWE


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

9,796,911.59

Transferable Deposits


7,782,391.98

8,323,687.16

of which FCAs
149,041.84
139,613.34
343,305.00

418,087.02

1,190,521.05

Other Deposits
1,453,958.89

1,458,797.16

1,490,952.43

1,374,640.48

1,442,460.95

1,459,140.37

1,501,520.77

1,524,244.03

1,488,981.24

1,427,834.38

1,430,427.17
1,508,902.47

1,466,797.51
1,473,224.43
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

71,792.12

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


Feb
59.7

256.8

3,764.8

357.1

570.4


Source:Reserve Bank of Zimbabwe,2019
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

Feb

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

Feb
52.63

238.67

3,601.94

293.36

549.59

205.65

2,675.29

-

60.52

2.00

5.84

7.71

208.31

2,784.17

31.04

490.74

472.78

696.82

12,377.1

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

Feb

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

1,973.3

Feb
5.4

17.6
120.6

62.8
18.1

0.0
339.6

26.5
-

0.0
416.1

0.0
696.1

171.1
156.7

2,030.8

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

Feb

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

Feb

Source:Reserve Bank of Zimbabwe,2019
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

Feb

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
Feb
4.00-18.00
9.23
7.30
Source:Reserve Bank of Zimbabwe, 2019
TABLE 8.1: LENDING RATES (percent per annum)
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
Feb
0.22-12.00
1.00-6.75
Source:Reserve Bank of Zimbabwe, 2019
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

Feb

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

Feb

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

Feb

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

Feb

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

Feb

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
Feb
456.5
16.4
27,811.2 226.8 119,081.1 463.6
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

Feb

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