i


FEBRUARY 2017

Table of Contents


January

February
Month-on-
Month
Change
Merchandise Exports (US$ millions)
258.7
240.5
-7.0%
Merchandise Imports (US$ millions)
384.6
424.2
10.3%
Z.S.E. Mining Index1
56.3
56.5
0.28
Z.S.E. Industrial Index1
140.2
135.3
-4.02
National Payment System Transactions
(US$ millions)
6 211.6
6 429.5
3.5%
Money Supply (US$ millions)2
5 663.4
5 771.6
1.9%

Money Supply (M3) Annual Growth2 (%)
19.8
21.5

Yearly Inflation3 (%)
-0.65
0.06

Monthly Inflation3 (%)
0.23
0.61

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

International
commodity
prices
of
gold,
platinum, copper, nickel and crude oil registered
gains in February 2017. This is a welcome
development for mineral export dependent
countries, including Zimbabwe.

Precious Metals
Gold and platinum prices rose by 3.2% and
3.5% in February 2017, to US$1,233.2/oz and
US$1,006.2/oz,
respectively.
The
price
increases were largely attributable to the
weakening of the US dollar.
Figure 1: Precious metals prices
Source: Bloomberg, 2017

Base Metals
Prices of base metals firmed during the month
of February 2017, mainly driven by falling
inventories and prospects of higher demand
emanating from China. Furthermore, supply
risks from the world’s largest copper mine in
Chile, as well as nickel mines in Indonesia,
supported base metal prices during the month
under review.
As a result, monthly prices of copper and nickel
surged by 3.9% and 5.4% to close at
US$5,945.1/tonne
and
US$10,517.8/tonne,
respectively.
Brent Crude Oil
During the month under review, crude oil prices
increased by 0.5%, to a monthly average of
US$55.9/barrel
in
February

from
US$55.6/barrel recorded in the previous month.
Crude oil prices firmed on the back of OPEC
supply curbs to reduce the global surplus.

Source: Bloomberg, 2017

MERCHANDISE TRADE
DEVELOPMENTS

Total
merchandise
trade
stood
at
US$664.7 million, representing a 2.0% increase

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
Gold
Platinum

Jan-16
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
US$\Barrel
Figure 2: Brent crude oil prices

from the US$643.3 million recorded in the
previous month.

Merchandise export developments
Merchandise
exports
amounted
to
US$240.5 million in February 2017, registering
a 7.0% decline from the US$258.7 million
realized in January 2017. The slowdown in
merchandise exports reflected the seasonality of
tobacco, which is the country’s anchor export
commodity.
Figure 4: Merchandise Exports (US$m)
Source: Zimstat, 2017
In terms of exports by commodity, flue-cured
tobacco, gold, nickel and ferrochrome were the
country’s major export earners, accounting for
about 89.73% of the total export revenues,
during the month under review.


Table 1: Exports Classified by HS Code:
Product
January
2017 (US$m)
February
2017 (US$m)
February
2017 Share
of Total
Flue-cured
99.7
74.2
30.85
Gold
56.7
57.0
23.70
Nickel ores &
concentrates
29.3
27.0
11.23
Ferro-chrome
26.1
27.6
11.48
Chromium
ores &
8.6
6.2
2.58
Unwrought &
platinum
7.5
4.1
1.70
Cane sugar
3.9
4.9
2.04
Industrial
diamonds
2.0
12.4
5.16
Other
24.7
23.8
9.90
Total
258.6
240.5
100.0
Source: Zimstat, 2017 & RBZ Calculations, 2017

Major Merchandise Export Destinations
The country’s major merchandise export
destinations were South Africa, Mozambique,
the United Arab Emirates, Kenya and Zambia,
during the month under review.
Merchandise exports to South Africa were
77.1% of the country’s total merchandise
exports; followed by Mozambique, 8.8%;
United Arabs Emirates; 8.7% and Zambia,
2.1%.

Jan-17
Feb-17

Source: Zimstat, 2017 & RBZ Calculations, 2017
Merchandise Import Developments
The country’s monthly merchandise imports
stood at US$424.2 million in February 2017,
10.3% higher compared to the previous month.
The increase in imports during the month under
review was mainly driven by increases in fuel
imports (diesel and petrol). Electricity and food
imports, however, recorded declines during the
month of February 2017.
Major Import Sources
The country’s imports were mainly sourced
from South Africa, 40.4%; Singapore, 26.5%;
China, 7.6%; Zambia, 2.4% and Mozambique,
2.3%, during the month under analysis.

Source: Zimstat, 2017 & RBZ Calculations, 2017
Merchandise Trade Balance
The country’s external position worsened from
a deficit of US$126.0 million in January 2017 to
US$183.7 million in February 2017, on the back
of a rebound in imports. Exports were also lower
in February 2017, compared to the previous
month.

Figure 7: Merchandise Trade Balance
(US$m)


Source: Zimstat, 2017 & RBZ Computations, 2017
South
Africa
77.1%
Mozambique
8.8%
United
Arab
Emirates
8.7%
Zambia
2.1%
Kenya
2.0%
Botswana
0.5%
Namibia
0.3%
Argentina
0.1%
Malawi
0.1%
Swaziland
0.1%
Other
0.2%Figure 5:Major Merchandise Export
Figure 5:Major Merchandise Export Destinations
Destinations
South Africa
Singapore
China
Zambia
Mozambique
India
United Kingdom
Italy
Japan
United Arab Emirates

Figure 6: Major Mechandise Import
sources (% Share)

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
Exports
Imports
Trade balance

MONETARY DEVELOPMENTS

Money supply1 registered an annual growth of
21.56% in February 2017 to $5 771.6 million,
from $4 748.0 million in February 2016. The
growth, was an increase of 1.8 percentage points
from the annual growth of 19.80% recorded in
January 2017. On a month-on-month basis,
broad money increased by 1.91% from $5 663.4
million in January 2017.
The annual growth in money supply during the
month under review, reflected increases in
transferable2 deposits, 28.97%; and negotiable
certificates of deposits (NCDs)3, 17.86%. Time
deposits4, however, declined by 0.02%.

1 Broad money 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.
2 Transferable deposits made up of demand and savings
deposits.
Source: Reserve Bank of Zimbabwe, 2017

During February 2017, transferable or transitory
deposits accounted for 70.1% of money supply;
time deposits, 26.9%; currency in circulation,
2.0%; and negotiable certificates of deposits,
1%. The dominance of transitory deposits,
coupled with limited access to external
financing, continued to inhibit the lending
capacity of banks.

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.


US$ BILLIONS
Figure 10: Money Supply
Figure 10: Money Supply
M3
M3 Annual Growth rate

Source: Reserve Bank of Zimbabwe, 2017

Domestic credit grew by 17.61%, on an annual
basis, from US$6 599.7 million in February
2016 to US$7 761.8 million in February 2017.
On a month-on-month basis, domestic credit
increased by 1.55%, from US$7 643.3 million
recorded in January 2017.

Credit to the private sector5, the dominant
component of domestic credit, recorded an
annual decline of 4.36%, from US$3 524.6
million in February 2016 to US$3 370.9 million.
The decline was partly driven by cautionary
lending by banks, during the period under
analysis. On a month- on- month basis, credit to
the private sector recorded a marginal decline of
0.44%, from US$3 385.8 million in January
2017.

5 Credit to the private sector now excludes claims on
other financial corporations, as well as claims on state
and local government (local authorities)
STOCK MARKET DEVELOPMENTS
During the month of February 2017, bearish
investor sentiments persisted on the Zimbabwe
Stock Exchange (ZSE). Consequently, the
mainstream index declined by 4.02% to close at
135.31 points. The mining index, however,
increased by 0.28% to 56.47 points in the
same month.


The volume of trades, increased by 169.89%,
from 31 616 982 shares in January 2017 to
85 314 995 shares in February 2017. Over the
same period, the value of shares traded also
increased by 34.94% to US$11.54 million.

Transferable
deposits
70.11%
Time Deposits
26.90%
NCDs
1.03%
Currency outside Depository
Corporations
1.96%Figure 11: Composition of Money
Figure 11: Composition of Money Supply February 2017
Supply February 2017

28-Feb-16
28-Mar-16
28-Apr-16
28-May-16
28-Jun-16
28-Jul-16
28-Aug-16
28-Sep-16
28-Oct-16
28-Nov-16
28-Dec-16
28-Jan-17
28-Feb-17
Figure 8:
Figure 8: ZSE Indices
Industrial
Mining
Source: Zimbabwe Stock Exchange, 2017

Source: Zimbabwe Stock Exchange, 2017
During the month under review, the ZSE market
capitalisation declined by 3.42% to US$3.77
billion. This was, in large part, on account of
decline in the industrial index.

INFLATION OUTTURN

Annual Inflation

Annual headline inflation at 0.06% in February
2017, was in positive territory for the first time
since October 2014. The inflation rate for
February 2017 gained by 0.71 percentage points
on the January 2017 rate of -0.65%, driven by
increases in both food and non-food inflation.


Source: ZIMSTAT, 2017
Annual food inflation surged from -0.30% in
January 2017 to 1.28% in February 2017. The
increase in food inflation was largely on account
of price increases in the bread and cereals subcategory. Other sub-categories that contributed
to the positive food inflation rate in February
2017 included fish and sea food; oils and fats
and vegetables sub-categories, among others.
The increases were, however, partially offset by
declines in fruits, and milk, cheese, and eggs.
Year-on-year non-food inflation increased by
0.31 percentage points to -0.50%, during the
period under analysis. The increase was largely
on account of education inflation. Other subcategories
that
recorded
increases
were
recreation and culture, and restaurants and
hotels.

Monthly Inflation


The month-on-month inflation rate increased
from 0.23% in January 2017, to 0.6% in
February 2017. The increase was driven by both
food and non-food inflation.

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
VALUES TRADED (US$ MILLIONS)
VOLUMES TRADED (MILLIONS)
Figure 9: ZSE: Monthly Volumes
Figure 9: ZSE: Monthly Volumes and Values Traded
and Values Traded
Volume
Turnover


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

Source: ZIMSTAT, 2017
Monthly food inflation rose by 0.8% in January
2017 to 1.6% in February 2017, on account of
increases in all sub-categories, except oils and
fats and confectionaries.
Monthly non-food inflation increased from
-0.03% in January 2017 to 0.17% in February
2017. This was due to increases in furniture and
maintenance and transport. Partially offsetting
the increases were declines in recreation and
culture, and restaurants and hotels.
NATIONAL PAYMENTS SYSTEM

The value of transactions processed through the
national payments system increased by 3.5% to
US$6 429.5 million in February 2017, from
US$6 211.6 in January 2017. Transaction
volumes processed through the NPS, however,
declined by 11%, from 43 905 251 in the
previous month to 39 227 571, during the month
under analysis.


Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
RTGS system increased by 4.8% in February

to
US$4
247.91
million,
from
US$4 052.79 million recorded in January 2017.
Total RTGS volumes, however, registered a
decrease of 7% to 326 329 during the same
period.

Source: Reserve Bank of Zimbabwe, 2017


Cash transactions
Cash transactions stood at US$360.42 million in
February 2017, a 12.3% increase from the
US$321.02 million recorded in January 2017.


0.2Figure 13: M
Figure 13: M-
-O
O-
-M Inflation
M Inflation


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

Mobile and Internet Based Transactions

The total value of mobile and internet based
transactions closed the month of February 2017
lower at US$796.4 million, compared to
US$814.5 million registered in January 2017.

Card Based Transactions

Card based transactions also declined to
US$385.7 million in February 2017, from
US$439.1 million in January 2017.

Cheque Transactions
The value of cheque transactions was 6.2%
lower at US$7.02 million in the month under
review, from US$7.48 million in January 2017.

RESERVE BANK OF ZIMBABWE
MAY 2017

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

National Payments System Statistics


13.1 Values of Transactions

13.2 Volumes of Transactions

14. Merchandise Trade Statistics

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

Broad Money-M2

Other Deposits

Narrow Money-M1

Transferable Deposits

Currency Outside Depository Corporations

Source: Reserve Bank of Zimbawe
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)

Feb-16
Mar-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Y
O
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

Bond Notes and Coins in Circulation

Liabilities to ODCs

Reserve Deposits

Other

Private Deposits

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

Feb-16
Mar-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-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)
4,791,858.16

4,878,305.20

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

Domestic Claims
4,936,146.91

4,968,416.04

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

Net Claims on Central Government
1,233,535.82

1,230,643.24

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

Claims on Central Government
1,253,927.8725

1,247,585.3619

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

Securities
1,228,947.3345

1,225,003.3297

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

Loans
24,980.5379

22,582.0322

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

Other
(0.00)

-

-

-

-

(0.00)

-

(0.00)

0.00

(0.00)

0.00

Less Liabilities to Central Government
(20,392.0485)

(16,942.1215)

(25,606.2057)

(50,900.7775)

(46,937.0009)

(43,740.0913)

(43,051.4118)

(46,153.0502)

(42,165.4109)

(53,063.7244)

-55259.64163
Claims on Other Sectors
3,702,611.09

3,737,772.80

3,637,333.03

3,560,565.86

3,553,844.86

3,575,498.22

3,606,801.65

3,685,156.54

3,720,616.72

3,576,192.25

3,537,078.41

Other Financial Corporations
106,168.34

106,004.42

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

State and Local Government
45,013.90

42,766.93

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

Public Non Financial Corporations
66,276.87

109,014.22

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

Private Sector
3,485,151.97

3,479,987.23

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

3,355,384.1548

3,357,053.2344

Claims on the Central Bank
764,905.319

810,741.643

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

Bond Notes and Coins
1,438.325

1,526.163

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

Reserves
763,466.993

809,215.480

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

Liabilities to the Central Bank


Other Items(Net)
909,194.07

900,850.66

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

Shares and Other Equity
1,114,980.01

1,103,911.46

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

Liabilities to other financial corporations
36,444.23

37,325.07

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

Other Items(Net)
(242,230.16)

(240,385.87)

(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)

Deposits and Securities Included in Broad Money
4,738,942.36

4,890,832.17

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

Deposits Included in Broad Money
4,688,602.29

4,835,248.40

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

Transferable Deposits
3,135,712.95

3,242,880.58

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

Other Deposits
1,552,889.34

1,592,367.82

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

Money Market Instruments
50,340.06

55,583.77

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

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

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


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


Source:Reserve Bank of Zimbabwe,2017
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
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
1.0

172.0

667.5

119.2


Feb
1.2

140.7

702.2

96.3


Mar
1.3

161.9

734.5

96.3


Apr
1.3

135.5

778.2

135.5


May
1.4

89.6

891.4

130.5


Jun
1.4

108.5

934.4

84.6


Jul
1.5

101.7

977.6

79.5


Aug
1.4

140.2

1,074.5

97.5


Sep
1.4

91.6

1,122.7

143.9


Oct
1.3

81.0

1,090.4

130.2


Nov
4.2

69.4

1,242.1

103.2


Dec
14.1

99.0

1,306.9

134.4


Jan
17.7

103.8

1,322.4

81.9


Feb
16.3

89.4

1,396.1

96.1


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 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

Source:Reserve Bank of Zimbabwe,2017
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
0.13


Feb
0.20


Mar
0.19


Apr
0.19


May
0.14


Jun
0.18


Jul
0.16


Aug
0.20


Sep
0.21


Oct
0.12


Nov
0.14


Dec
1.72


Jan
2.35


Feb
1.19


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 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

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Source:Reserve Bank of Zimbabwe,2017
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

Source:Reserve Bank of Zimbabwe,2017
/1 Including the only merchant bank still in operation.
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1
US$ thousands

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

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
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
Source:Reserve Bank of Zimbabwe, 2017
* The range of rates qouted by banks during the period.
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

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

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

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

Source:Zimbabwe Stock Exchange (ZSE),2017
Indices
TABLE 12: ZIMBABWE STOCK MARKET STATISTICS

Industrial
Market Turnover
US$ millions
Volume of Shares
Mining

MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Source:Reserve Bank of Zimbabwe, 2017
TABLE 14.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (US$ millions)

‘

Month
Exports
Imports
Total Trade
Trade Balance

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total


Jan

Feb

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