i


NOVEMBER 2017

TABLE OF CONTENTS


October

November
Month-on-
Month
Change (%)
Z.S.E. Mining Index1
132.49
126.86
-4.25
Z.S.E. Industrial Index1
521.85
376.69
-27.82
National Payment System Transactions
(US$ millions)
10 727.63
11 154.6
3.98
Money Supply (US$ millions)2
7 687.02
8 020.03
4.33
Money Supply (M3) Annual Growth2 (%)
44.69
47.97

Yearly Inflation3 (%)
2.24
2.94

Monthly Inflation3 (%)
1.54
0.74

Nominal Lending Rate2 (% per annum)
4.45-18.00
4.45-18.00

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 for precious
metals, base metals and crude oil firmed during
the month of November 2017.

Precious Metals

Precious metal prices rose on account of a
weaker US dollar, on the back of diminishing
prospects of a US Fed interest rate hike in 2018.
Gold and platinum prices increased by 0.21%
and
1.38%
to
monthly
averages
of
US$1,282.89/oz
and
US$934.02/oz,
respectively, in November 2017.
Figure 1: Precious metal prices

Source: Bloomberg, 2017

Base Metals
Base metal prices firmed mainly on account of
dwindling inventories and prospects of higher
demand, particularly in China. In addition, base
metal prices were supported by a weaker US
dollar, a development which made commodities
priced in US dollars cheaper for holders of other
currencies. Against this background, copper and
nickel monthly average prices firmed by 0.84%
and
6.61%
to
US$6,863.86/tonne
and
US$12,088.18/tonne, respectively.
Figure 2: Base metal prices

Source: Bloomberg, 2017
Brent Crude Oil
Crude oil prices surged by 8.9% to a monthly
average of US$62.80/barrel in November 2017,
from US$57.64/barrel recorded in the previous
month. The increase was supported by rising
expectations that members of the Organization
Petroleum Exporting Countries (OPEC) and
other major producers such as Russia would
support production cuts beyond March 2018.
Figure 3: International crude oil prices
Source: Bloomberg, 2017

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

12000

Nov-16
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
NICKEL US/TON
COPPER US$/TON
Copper
Nickel

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

MERCHANDISE TRADE
DEVELOPMENTS

Total merchandise trade for November 2017
stood at US$1,070.3 million, representing a
32.6%
increase
from
US$807.0
million
recorded in the previous month. The increase
was buttressed by growths in both merchandise
imports and exports during the month under
analysis.
Merchandise Export Developments
Merchandise exports surged by 63.9%, from
US$352.3 million recorded in October 2017 to
US$577.6 million in November 2017. The
growth was largely underpinned by increases in
exports of flue cure tobacco, gold and nickel
mattes.
Figure 4: Merchandise Exports (US$ m)


Source: Zimstat, 2017


Table 1: Exports Classified by HS Code
Product
October-17
US$m
November-17
US$m
Share of
total
Exports
(%)
Flue-cured
tobacco
(Virginia
type)
86.2
284.8
49.3
Gold
95.6
110.4
19.1
Nickel
mattes
33.9
57.8

Nickel ores
and
concentrates

41.2
7.1
Ferrochrome
25.3
17.1

Industrial
diamonds
9.4
8.3
1.4
Chromium
ores and
concentrates
8.5
8.2
1.4
Platinum
3.9
3.1
0.5
Black
Granite
2.6
2.4
0.4
Black tea
(fermented)
1.2
2.3
0.4
Cane sugar
1.7
2.2
0.4
Other

39.7
6.9
Total:
352.3
577.6

Source: Zimstat, 2017 & RBZ Calculations, 2017
The
country’s
top
merchandise
exports
destinations included South Africa which
absorbed 73.4% of the country’s exports,
followed by Mozambique, 5.2%; UAE, 4.9%,
Belgium, 1.4%; Zambia,0.9%; Botswana, 0.4%;
Malawi, 0.5%; and Italy, 0.1%.

30.5

91.5

152.5

213.5

274.5

335.5

Sep-17
Oct-17

Source: Zimstat, 2017 & RBZ Calculations, 2017
Merchandise Import Developments
In November 2017, merchandise imports surged
by 8.4%, to US$492.79 million, on account of
increases in imports of aviation spirit, medicines
and fertilisers. Imports of crude soya bean oil
and electricity, however, declined during the
month under review. Energy imports (diesel,
petrol and electricity) accounted for the highest
proportion of total merchandise imports, at
26.0%.
The country sourced imports mainly from South
Africa (37.7%); Singapore (24.0%); China
(8.0%); India (4.7%), Mauritius (3.6%); Japan
(2.8%); Zambia (2.3%); U.A.E (2.1%) and
United Kingdom (2.0%), during the month of
November 2017.


Figure 6: Major Merchandise Import
Sources (% Share)

Source: Zimstat, 2017 & RBZ Calculations, 2017
Merchandise Trade Balance
The country’s monthly trade balance improved
significantly, from a deficit of US$102.4 million
in October to a surplus of US$84.9 million in
November 2017. This was largely on account of
a significant increase in merchandise exports,
during the month under analysis.
Figure 7: Merchandise Exports, Imports and
Trade Balance (US$m)

Source: Zimstat, 2017 & RBZ Computations, 2017
South
Africa
73.4%
Mozambique
5.2%
UAE
4.9%
Zambia
0.9%
Belgium
1.4%
Botswana
0.4%
Malawi
0.5%
Italy
0.1%
Other
13.2%Figure 5:Major Merchandise
Figure 5:Major Merchandise Export Destinations
Export Destinations
South Africa
Singapore
China
India
Mauritius
Japan
Zambia
UAE
UK

Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Exports
Imports
Trade balance

MONETARY DEVELOPMENTS

Broad money1 recorded an annual growth of
47.97%, from $5 420.01 million in November
2016 to $8 020.03 million in November 2017.
The growth was on the back of increases in
transferable deposits, 58.99%; and negotiable
certificates of deposits (NCDs)2, 51.57%. Time
deposits, however, declined by 1.18%. Over the
same period, currency outside the banking
system (bond notes and coins in circulation),
increased by $300.24 million.

On a month-on-month basis, broad money grew
by 4.33% from $7 687.02 million in October
2017 to $8 020.03 million in November 2017.


Source: Reserve Bank of Zimbabwe, 2017
During the month under review, broad money
was made up of transferable or transitory
deposits, 77.11%; time deposits, 18.08%;
currency in circulation, 3.98%; and negotiable
certificates of deposits, 0.83%.

1 Beginning January 2017, broad money is redefined using
IMF’s Monetary and Financial Statistics Manual of 2000. The

Source: Reserve Bank of Zimbabwe, 2017
Total bank lending to local economic agents
grew by 44.31%, from $7 554.07 million in
November 2016 to $10 637.23 million in
November 2017. The growth was largely due to
an expansion of 70.45% in net credit to
Government. The increase in net credit to
Government reflected the fiscus’ reliance on the
banking sector to finance the budget deficit. On
a month-on-month basis, domestic credit grew
by 4.44%, from $10 185.05 million in October
2017 to $10 637.23 million in November 2017.

Year on year, credit to the private sector
increased by 6.97%, from $3 464.06 million in
October 207 to $3 705.51 million in November
2017. Monthly credit to the private sector
recorded a modest growth of 0.06% from
major change is the exclusion of Government deposits held by
banks from broad money.
2 NCDs are also referred to as securities included in broad
money.
-10


US$ BILLIONS
Figure 8: Money Supply
Figure 8: Money Supply
M3
M3 Annual Growth rate
Transferable
Deposits
77.11%
Other
Deposits
(Time)
18.08%
NCDs
0.83%
Bond
Notes and
Coins
3.98%Figure 9:
Figure 9: Composition of Money Supply
Supply November
November2017

$3 703.46 million registered in the previous
month.

Source: Reserve Bank of Zimbabwe, 2017
During
the
month
under
analysis,
the
distribution of outstanding credit to the private
sector was as follows: households, 24.4%;
agriculture,
18.0%;
services,
14.3%;
distribution, 12.2%; manufacturing, 11.9%;
financial organisations and investments, 10.6%;
mining,
4.6%;
and
transport
and
communications and construction, 1.7% each.
Private sector credit was utilised for inventory
build-up, 28.1%; consumer durables, 19.1%;
fixed capital investment, 9.7%; and pre and post
shipment financing, 1.1%. Amounts channelled
towards other recurrent expenditures constituted
39.1% of the total outstanding loans and
advances.


STOCK MARKET DEVELOPMENTS
During the month of November 2017, trading
activity on the Zimbabwe Stock Exchange
(ZSE) registered significant price correction,
following
political
developments.
Consequently, the industrial and mining indices
declined by 27.8% and 4.2%, to close at 376.69
points and 126.86 points, respectively.

Source: Zimbabwe Stock Exchange, 2017
Turnover volume declined by 80.48% to 196.49
million shares, from 1.01 billion shares
registered in the previous month. In value terms,
however, market turnover value increased by
22.95% to US$207.52 million during the same
month.
Foreign investor participation improved, as
reflected by the decline in net outflows from
US$31.5
million
in
October
2017,
to
US$19.8 million in November 2017.


Households
24.4%
Agriculture,
18.0%
Manufacturing,
11.9%
Services,
14.3%
Distribution,
12.2%
Financial
Organisati
ons,
10.6%
Mining,
4.6%
Transport and
Communication,
1.7%
Construction,
1.7%
Other, 0.6%
Figure 10 : Sectoral Distribution of
Credit

30-Nov-16
31-Dec-16
31-Jan-17
28-Feb-17
31-Mar-17
30-Apr-17
31-May-17
30-Jun-17
31-Jul-17
31-Aug-17
30-Sep-17
31-Oct-17
30-Nov-17
Figure 11: ZSE Indices
Industrial
Mining

Source: Zimbabwe Stock Exchange, 2017
During the period under review, the ZSE lost
US$4.05 billion worth of capitalization or
27.33% of the previous month’s value, to close
at US$10.77 billion, due to price correction.
On a year-on year basis, however, ZSE market
capitalization increased by 183.28%.

INFLATION OUTTURN

Annual Inflation

The annual headline inflation rose from 2.24%
in October 2017, to 2.97% in November 2017.
This was largely attributable to increases in both
food and non food prices, on the back of
speculative activities on the domestic foreign
currency market.
Annual food inflation surged from 4.40% in
October 2017, to 5.65% in November 2017.
Likewise, non-food inflation accelerated from
1.25% in October 2017, to 1.74% in November
2017.
Figure 12 shows annual inflation developments.

Source: ZIMSTAT, 2017
Monthly Inflation

Monthly inflation decelerated to 0.7% in
November 2017, from 1.5% in October 2017.
The decline reflected the fall in both food and
non-food prices.


Source: ZIMSTAT, 2017


1,000
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Values Traded (US$ Millions)
Volumes Traded (Millions)
Figure 2: ZSE Monthly Volumes
Figure 2: ZSE Monthly Volumes and Values Traded
and Values Traded
Volume
Turnover

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

1.6Figure 13: M
Figure 13: M-
-O
O-
-M Inflation
M Inflation

Month-on-month, food inflation fell from
2.27% in October 2017 to 1.74% in November
2017. This was largely on account of a decline
in vegetable prices.
Monthly non-food inflation also decelerated,
from 1.20% in October to 0.26% in November
2017. This followed declines in communication,
education and restaurants and hotels.

NATIONAL PAYMENTS SYSTEM

Transactions processed through the National
Payment System (NPS) increased by 4% to
US$11.2 billion in November 2017, from
US$10.7 billion in October 2017. NPS
transaction volumes increased by 3% to 123.8
million transactions, during the same month
under review.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
RTGS system increased to US$6.3 billion in
November 2017, a 4.5% increase from
US$6.0 billion registerd in the previous month.
RTGS transaction volumes, however, declined
from 609 636 in October 2017 to 575 269 in
November 2017.
Source: Reserve Bank of Zimbabwe, 2017
Cash transactions
Cash based transactions declined by 3.3% to
US$209.07 million in November 2017, from
US$216.27 million recorded in the previous
month.
Mobile and Internet Based Transactions
Mobile and internet based transactions rose to
US$3.36 billion as at end of November 2017,
from US$3.18 billion in October 2017.

Card Based Transactions
Card based transactions closed the month under
review at US$682.33 million, down from
US$701.27 million registered in October 2017.
Cheque Transactions
Cheque transactions decreased by 9.9% to
US$4.88 million in November 2017, from
US$5.42 million in October 2017.

JANUARY 2017
RESERVE BANK OF ZIMBABWE


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

Statistical Tables

Monetary Statistics
1. Depository Corporations Survey

2. Central Bank Survey

3. Other Depository Corporations Survey

Other Depository Corporations

4.1 Assets

4.2 Liabilities

Commercial Banks
5.1 Assets

5.2 Liabilities

Building Societies
6.1 Assets

6.2 Liabilities

Sectoral Analysis of Bank Loans and Advances and Deposits

7.1 Sectoral Analysis of Commercial Banks Loans and Advances

7.2 Sectoral Analysis of Commercial Banks Deposits

Interest Rates

8.1 Lending Rates

8.2 Banks Deposit Rates

Inflation

9.1 Monthly Inflation

9.2 Yearly Inflation

External Statistics

10. Total External Debt Outstanding by Debtor

11. Exchange Rates

12. Zimbabwe Stock Exchange Statistics

13. National Payments System Statistics


13.1 Values of Transactions

13.2 Volumes of Transactions

14. Merchandise Trade Statistics

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

Central Bank(net)

Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)

Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad Mon

Broad Money-M2

Other Deposits

Narrow Money-M1

Transferable Deposits

Currency Outside Depository Corporations

Source:Reserve Bank of Zimbabwe,2017
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)

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

Claims on Non Residents

Official Reserves Assets

Other Foreign Assets

Less Liabilities to Non Residents

Short Term Liabilities

Other Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Of which: Securities Other than Shares

Less Liabilities to Central Government

Of which: Deposits

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Other Liabilities to ODCs

Other Items(Net)

Monetary Base

Bond Coins

Bond Notes

Liabilities to ODCs

Reserve Deposits

Other

Private Deposits

Source:Reserve Bank of Zimbabwe,2017
TABLE 2: CENTRAL BANK SURVEY (US$'000)

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

Claims on Non Residents

Of Which: Foreign Currency

Deposits

Other

Less Liabilities to Non Residents

Of Which: Deposits

Loans

Other

Net Domestic Assets (NDA)
5,442,974.41

5,549,018.98

5,580,169.12

5,639,870.63

5,709,300.08

5,875,774.29

5,952,966.10

6,280,977.27

6,298,478.80

6,804,652.82

7,083,536.41

7,220,331.96

7,501,636.53

Domestic Claims
5,157,302.61

5,249,484.24

5,193,549.03

5,210,748.62

5,374,818.07

5,496,061.61

5,599,314.81

5,744,480.55

5,664,876.26

5,897,249.35

6,106,204.09

6,266,881.93

6,404,963.55

Net Claims on Central Government
1,472,146.07

1,528,867.51

1,617,356.78

1,673,670.22

1,722,915.15

1,893,632.91

1,910,530.23

1,988,366.03

1,949,894.23

2,053,882.03

2,235,169.19

2,363,848.73

2,485,156.00

Claims on Central Government
1,518,299.1187

1,571,032.9250

1,670,420.5050

1,728,929.8577

1,809,816.2513

1,969,866.9249

1,985,634.2076

2,062,080.8211

2,027,953.6484

2,142,212.9900

2,290,365.4156

2,406,944.3500

2,519,904.4492

Securities
1,500,671.4257

1,553,239.1020

1,654,534.6290

1,713,961.3077

1,794,113.0553

1,954,045.2049

1,968,887.3446

2,014,158.1741

1,982,771.1424

2,100,894.1800

2,248,874.2676

2,372,099.4000

2,487,651.0712

Loans
17,627.6930

17,793.8230

15,885.8760

14,968.5500

15,703.1960

15,821.7200

16,746.8630

47,922.6470

45,182.5060

41,318.8200

41,491.1480

34,844.9500

32,253.3780

Other
(0.0000)

0.0000

(0.0000)

0.0000

-

(0.00)

(0.00)

(0.00)

-

-

-

-

-

Less Liabilities to Central Government
(46,153.0502)

(42,165.4109)

(53,063.7244)

(55,259.6416)

(86,901.1009)

(76,234.0149)

(75,103.9806)

(73,714.7955)

(78,059.4171)

(88,330.9700)

(55,196.2259)

(43,095.6200)

(34,748.4530)

Claims on Other Sectors
3,685,156.5434

3,720,616.7211

3,576,192.2507

3,537,078.4083

3,651,902.92

3,602,428.70

3,688,784.58

3,756,114.52

3,714,982.03

3,843,367.33

3,871,034.90

3,903,033.21

3,919,807.55

Other Financial Corporations
109,892.67

102,641.44

100,223.50

60,600.81

61,686.40

63,543.47

77,258.00

132,079.86

80,587.02

83,743.90

84,929.32

84,138.16

87,199.89

State and Local Government
37,784.82

34,237.41

35,909.11

35,006.53

34,312.18

34,732.93

36,595.52

35,573.02

34,059.17

34,223.63

31,707.35

33,198.40

38,416.75

Public Non Financial Corporations
101,612.03

86,631.35

84,675.48

84,417.84

86,380.62

90,267.74

88,656.44

98,878.45

142,891.35

171,759.70

142,254.70

124,030.93

130,803.39

Private Sector
3,435,867.03

3,497,106.53

3,355,384.15

3,357,053.23

3,469,523.72

3,413,884.55

3,486,274.63

3,489,583.19

3,457,444.48

3,553,640.10

3,612,143.52

3,661,665.72

3,663,387.53

Claims on the Central Bank
1,323,120.314

1,435,556.219

1,475,197.651

1,507,778.322

1,498,477.568

1,505,940.672

1,505,814.461

1,682,269.779

1,814,568.562

2,074,164.010

2,122,438.965

2,148,009.900

2,325,299.451

Bond Notes and Coins
4,565.027

16,563.071

20,206.055

19,301.209

12,559.660

10,691.409

13,438.609

7,361.926

7,148.374

12,310.360

11,999.682

8,696.700

9,788.767

Reserves
1,318,555.287

1,418,993.147

1,454,991.597

1,488,477.113

1,485,917.908

1,495,249.263

1,492,375.852

1,674,907.853

1,807,420.188

2,061,853.650

2,110,439.283

2,139,313.210

2,315,510.684

Liabilities to the Central Bank


Other Items(Net)
1,037,448.30

1,134,271.35

1,088,577.32

1,078,654.52

1,162,242.90

1,126,224.85

1,152,162.40

1,145,772.36

1,180,966.02

1,166,758.76

1,145,103.26

1,194,558.41

1,228,626.01

Shares and Other Equity
1,228,902.77

1,271,826.05

1,272,987.21

1,279,285.69

1,301,867.36

1,295,023.50

1,310,286.87

1,325,276.01

1,330,874.62

1,342,135.53

1,356,314.17

1,398,886.31

1,422,958.60

Liabilities to other financial corporations
28,777.63

48,770.44

41,105.95

43,353.63

41,885.62

41,887.59

42,243.24

46,601.91

35,579.93

22,829.02

32,113.21

42,038.12

60,187.49

Other Items(Net)
(220,232.10)

(186,325.14)

(225,515.85)

(243,984.80)

(181,510.08)

(210,686.24)

(200,367.71)

(226,105.56)

(185,488.52)

(198,205.79)

(243,324.12)

(246,366.01)

(254,520.08)

Deposits and Securities Included in Broad Mo
5,397,590.93

5,567,120.14

5,579,371.63

5,654,297.27

5,734,703.72

5,960,513.96

6,009,210.65

6,278,455.63

6,345,429.42

6,858,037.73

7,177,759.33

7,356,243.13

7,652,130.15

Deposits Included in Broad Money
5,353,728.76

5,504,225.78

5,528,809.61

5,594,968.03

5,674,542.57

5,897,221.76

5,947,817.72

6,212,788.17

6,279,146.84

6,786,983.35

7,121,929.07

7,293,267.77

7,585,647.37

Transferable Deposits
3,886,146.76

4,032,568.59

3,983,863.96

4,042,323.47

4,144,685.59

4,366,516.18

4,389,399.64

4,673,922.65

4,679,042.08

5,182,081.91

5,550,494.39

5,832,448.43

6,135,456.05

Other Deposits
1,467,582.00

1,471,657.19

1,544,945.66

1,552,644.56

1,529,856.98

1,530,705.58

1,558,418.08

1,538,865.52

1,600,104.76

1,604,901.44

1,571,434.68

1,460,819.34

1,450,191.32

43,862.17

62,894.35

50,562.02

59,329.24

60,161.15

63,292.20

61,392.93

65,667.46

66,282.58

71,054.38

55,830.26

62,975.36

66,482.78

Source:Reserve Bank of Zimbabwe,2017
TABLE 3: OTHER DEPOSITORY CORPORATIONS SURVEY (US '000)

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

Local Governemt
Public Enterprises
Other

Government
Local
Public
Other Institutional Units

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

Jan
1.22


Feb
1.44


Mar
1.53


Apr
1.55


May
1.53


Jun
1.61


Jul
1.62


Aug
1.58


Sep
1.63


Oct
1.42


Nov
4.57


Dec
16.56


Jan
20.21


Feb
19.30


Mar
12.56


Apr
10.69


May
13.44


Jun
7.36


Jul
7.15


Aug
12.31


Sep
12.00


Oct
8.70


Nov
9.79


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


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


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
1.05


Feb
1.21


Mar
1.31


Apr
1.35


May
1.38


Jun
1.42


Jul
1.45


Aug
1.36


Sep
1.40


Oct
1.27


Nov
4.24


Dec
14.07


Jan
17.72


Feb
16.29


Mar
10.74


Apr
9.82


May
12.36


Jun
7.01


Jul
6.71


Aug
11.80


Sep
11.43


Oct
8.10


Nov
9.04


Source:Reserve Bank of Zimbabwe,2017
Notes
1.Government securities include 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


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


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


Mar
1.65


Apr
0.74


May
0.92


Jun
0.34


Jul
0.39


Aug
0.44


Sep
0.56


Oct
0.57


Nov
0.75


Source:Reserve Bank of Zimbabwe,2017
Notes
1.Government securities include 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


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


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

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

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$ ('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

Source: Reserve Bank of Zimbabwe,2017
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
US$ ('000)

End Period
Nominal Lending
Rates 1
Individuals
Corporate

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

Jan
4.00-18.00
10.61
6.68
Feb
4.00-18.00
10.06
6.52
Mar
4.00-18.00
9.12
7.02
Apr
4.00-18.00
9.25
7.02
May
4.00-18.00
9.17
7.03
Jun
4.00-18.00
9.01
7.05
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
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
Rates

END OF
SAVINGS
3 MONTHS

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

Jan
0.50-6.00
1.00-17.00
Feb
0.50-6.00
1.00-17.00
Mar
0.50-6.00
1.00-17.00
Apr
0.50-6.00
1.00-17.00
May
0.50-6.00
1.00-9.50**
Jun
0.50-6.00
1.00-12.00
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
0.5-12.00
0.75-8.00
Source:Reserve Bank of Zimbabwe, 2017
* Deposit rates depict the range of rates qouted by banks.
**Banks have adjusted their costs of holding deposits following the call by the RB
TABLE 8.2 : BANK DEPOSIT RATES (percent per annum)
COMMERCIAL BANKS

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


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Source:Zimstat, 2017
NON-FOOD INFLATION
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

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

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 - % 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


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)

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

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
END OF
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

Source:Zimbabwe Stock Exchange ,2017
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

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

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Annual Total


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Source:Reserve Bank of Zimbabwe, 2017
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

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