i


MAY 2017

Table of Contents


April

May
Month-on-
Month
Change
Z.S.E. Mining Index1
66.33
69.63
4.98%
Z.S.E. Industrial Index1
142.96
162.34
13.56%
National Payment System Transactions
(US$ millions)
6 954.94
8 430.11
21.2%
Money Supply (US$ millions)2
6 116.8
6 200.3

Money Supply (M3) Annual Growth2 (%)
22.67
23.24

Yearly Inflation3 (%)
0.48
0.75

Monthly Inflation3 (%)
0.05
0.03

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 for gold,
platinum and crude oil marginally firmed, whilst
copper and nickel prices softened, during the
month of May 2017.

Precious Metals

Gold prices retreated by 1.6%, from an average
of US$1,265.83/ounce in April 2017 to an
average of US$1,245.92/ounce in May 2017.
This followed a strong rebound in the growth of
US job figures in April 2017, which heightened
expectations of a Fed interest rate hike and
dampened the yellow metal’s safe haven
outlook.
Platinum prices slumped by 3.3%, from a
monthly average of US$961.68/ounce in April
2017 to an average of US$930.10/ounce in May
2017. This was largely attributed to a waning
demand outlook, following rising expectations
of a Fed interest rate hike.
Figure 1: Precious metals prices

Source: Bloomberg, 2017


Base Metals
Base metals prices, recorded loses in May 2017,
underpinned by a weak demand outlook and
concomitant oversupply concerns. Copper
prices
declined
by
2.0%,
from
US$5,710.32/tonne
in
April

to
US$5,595.52/tonne in May 2017. The decline
was occasioned by rising inventories at the
London Metal Exchange (LME). Nickel prices
slumped
by
5.3%
to
an
average
of
US$9,176.19/tonne
in
May
2017,
from
US$9,688.53/tonne in April 2017.
Brent Crude Oil
Crude oil prices fell by 4.6%, from an average
of US$53.66/barrel in April 2017 to an average
of US$51.12/barrel in May 2017. The increase
in U.S. shale production continued to raise
concerns about a global supply glut. Crude oil
prices have been under pressure in recent weeks,
amid fears that the ongoing rebound in U.S.
shale production is derailing efforts by other
major producers to rebalance supply and
demand in the global oil industry.

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

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

Total merchandise trade increased by 16.9%, to
US$689.1
million
in
May

from
US$589.7 million in April 2017.

Merchandise Export Developments
Merchandise exports stood at US$223.1 million
in May 2017, a 20.9% increase from the
US$184.5 million realised in April 2017. This
was underpinned by increases in export values
for gold (26.9%), nickel ores and concentrates
(22.1%) and tobacco (21.8%). Gold, nickel,
ferrochrome and flue-cured tobacco, were the
country’s major export commodities accounting
for about 69% of the total export revenues,
during the month under review.


Figure 3: Merchandise Exports (US$m)


Source: Zimstat, 2017

Table 1: Exports Classified by HS Code:
Product
Apr-17
US$m
May-17
US$m
Change
(%)
Gold
60.98
77.40
26.93
Ferro-chromium
33.43
30.29
-9.39
Flue-cured tobacco
11.96
14.58
21.91
Nickel ores and
concentrates
26.18
31.98
22.15
Chromium ores
and concentrates
13.10
6.22
-52.52
Unwrought
Platinum
2.48
5.01
102.02
Industrial
diamonds
2.65
6.65
150.94
Granite
1.78
2.69
51.12
Other
31.92
48.31
51.35
Total Exports
184.50
223.13
20.94
Source: Zimstat, 2017 & RBZ Calculations, 2017


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
Mar-17
Apr-17
May-17
Brent crude oil (us$/barrel)

Apr-17
May-17

The country’s merchandise exports were mainly
destined for South Africa, Mozambique, the
United Arab Emirates, Zambia and Kenya.
South Africa absorbed about 72%, of the
country’s exports followed by Mozambique,
19%; UAE, 4.4%; and Zambia, 3%. The
remaining 1.6% was accounted for by other
countries with proportions of less than 1% each.

Source: Zimstat, 2017 & RBZ Calculations, 2017

Merchandise imports rose by 15.0%, from
US$405.2 million in April to US$466.0 million
in May 2017. Increases were registered in crude
soya bean oil imports (68.8%), medicines
(60.4%) and diesel (12.9%). Electricity and
petrol imports, however, recorded declines of
17.7% and 9.8%, respectively.
The country’s imports were mainly sourced
from South Africa (39.2%); Singapore (20.0%);
China (12.8%); Mozambique (3.1%) and India
(2.9%), during the month under analysis, as
shown in Figure 6.
Figure 6: Major Merchandise Import
Sources (% Share)
Source: Zimstat, 2017 & RBZ Calculations, 2017

Merchandise Trade Balance
The country’s merchandise trade deficit,
worsened by 10.0%, from -US$220.7 million in
April 2017 to - US$242.8 million in May 2017.
This was, in large part, attributable to the high
import bill, on the back subdued export
performance.


South
Africa
72.0%
Mozambique
19.0%
UAE
4.4%
Zambia
3.0%
Botswana
0.3%
Namibia
0.3%
Malawi
0.2%
Hong Kong
0.2%
Singapore
0.1%
Mauritius
0.1%Figure 4:Major Merchandise
Figure 4:Major Merchandise Export Destinations
Export Destinations
South Africa
Singapore
China
Mozambique
India
Zambia
Japan
Mauritius
Other


Figure 7: Merchandise Exports, Imports and
Trade Balance (US$m)

Source: Zimstat, 2017 & RBZ Computations, 2017

MONETARY DEVELOPMENTS

Broad money1 recorded an annual growth of
23.24%, from $5 031.3 million in May 2016 to
$6 200.3 million in May 2017. The growth was
largely driven by an expansion of 29.85% in
transferable2 deposits. Partially offsetting the
increase, were declines of 14.28% and 0.07% in
negotiable certificates of deposits (NCDs)3 and
time deposits4, respectively.


1 Beginning January 2017, broad money is redefined using
IMF’s Monetary and Financial Statistics Manual of 2000. The
major change is the exclusion of Government deposits held by
banks from broad money.
On a month on month basis, broad money grew
by 1.37%, from $6 116.8 million in April 2017
to US$6200.28 million in May 2017.


Source: Reserve Bank of Zimbabwe, 2017

Broad money comprised of transferable or
transitory deposits, 71.04%; time deposits,
25.13%; bond notes and coins, 2.83%; and
negotiable certificates of deposits, 0.99%.

2 Transferable deposits are made up of demand and savings
deposits.
3 NCDs are also referred to as securities included in broad
money.
4All time deposits, are classified as other deposits.

Jan-17
Feb-17
Mar-17
Apr-17
May-17
Exports
Imports
Trade balance
-5


US$ BILLIONS
Figure 9: Money Supply
Figure 9: Money Supply
M3
M3 Annual Growth rate

Source: Reserve Bank of Zimbabwe, 2017
Domestic credit recorded an annual increase of
21.10%, from $6 978.7 million in May 2016 to
$8 451.4 million in May 2017. The growth was
largely due to a 38.67% annual expansion in net
credit to Government.
The surge in net credit to government, shows the
fiscus’ heavy reliance on the banking sector, to
finance its operations, on the back of subdued
revenue collections. In addition, the growth in
credit to government also reflected banking
sector holdings of Treasury bills, bought at a
discount on the secondary market.
Credit to the private sector recorded a modest
growth of 1.99%, from $3 426.9 million in May
2016 to $3 495.1 million in May 2017. This
reflected a slowdown in credit to the private
sector.
On a month-on-month basis, domestic credit
grew by 3.33%, on the back of an expansion of
3.49% in net credit to government. Over the
same period, credit to the private sector
increased by 1.84%.

Source: Reserve Bank of Zimbabwe, 2017
During the month under analysis, outstanding
credit to the private sector was distributed as
follows: households, 22.3%; agriculture, 16.8%;
manufacturing,
14.1%;
services,
13.9%;
distribution, 12.6%; financial organisations and
investments, 11.1%; mining, 5.7%; transport
and communications, 2.3%; and construction,
1.7%.
Private sector credit was utilised for inventory
build-up, 28.3%; consumer durables, 15.6%;
fixed capital investment, 14.3%; and pre and
post shipment financing, 1.5%. The amount
Transferable
Deposits
71.04%
Other
Deposits
(Time)
25.13%
NCDs
0.99%
Bond
Notes and
Coins
2.83%Figure 10: Composition of
Figure 10: Composition of Money Supply May
Money Supply May2017

Transferable Deposits
Other Deposits (Time)
NCDs
Bond Notes and Coins
Households,
22.3%
Agriculture,
16.8%
Manufacturing,
14.1%
Services,
13.9%
Distribution,
12.6%
Financial
Organisati
ons, 11.1%
Mining,
5.7%
Transport and
Communication,
2.3%
Construction,
1.7%
Other, 0.5%
Figure 11: Sectoral distribution of
credit

channelled towards other recurrent expenditures
constituted 40.3% of the total outstanding loans
and advances.
STOCK MARKET DEVELOPMENTS

Investor sentiments remained bullish for the
third consecutive month, during the month of
May 2017. Consequently, both the Zimbabwe
Stock Exchange, (ZSE) main stream and
resources indices registered increases of 13.56%
and 4.98% to close the month under analysis at
162.34 points and 69.63 points, respectively.
The increase in the mining index largely
emanated from improved investor interest in
RioZim Limited.

Source: Zimbabwe Stock Exchange, 2017
The volume of shares traded on the ZSE
increased by 125.2% to 170.83 million shares in
May 2017, compared to 75.86 million shares in
the previous
month.
The increase
was
underpinned by the National Social Security
Authority
(NSSA)’s
mandatory
offer
to
minority shareholders of Nicoz Diamond
Insurance. In tandem, the ZSE market turnover
registered a 50.21% increase, from US$11.20
million in April to US$16.83 million in the
month under review.

INFLATION OUTTURN

Annual Inflation

Annual headline inflation has maintained an
upward trend since October 2016, increasing to
0.75% in May 2017, from 0.48% registered in
April 2017. The increase in inflation was largely
driven by both food and non-food inflation.


Source: ZIMSTAT, 2017
Year-on-year food inflation accelerated by 0.56
percentage points to 1.92% in May 2017, from
1.35% recorded in April 2017. The increase in
food inflation was underpinned by increases in
bread and cereals, meat, and vegetables. This
was, however, partially offset by declines in
prices of fruits and confectionaries.

Annual non-food inflation rose from 0.08% in
April 2017 to 0.21% in May 2017, due to
increases furniture, household equipment and
maintenance; education; restaurants and hotels
and alcoholic beverages and tobacco. Partially

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


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

offsetting the increases were declines in the
housing, water, electricity, gas and other fuels;
transport and clothing and footwear categories.

Monthly Inflation

Month-on-month inflation decelerated from
0.05% in April 2017, to 0.03% in May 2017.
This followed the deceleration in non-food
inflation, from 0.25% in April to 0.01% in May
2017. The slowdown in non-food inflation was
largely
attributable
to
declines
in
communication; education; recreation and
culture; and restaurants and hotels.


Source: ZIMSTAT, 2017
Monthly food inflation, however, accelerated by
0.43 percentage points, from -0.36% in April
2017 to 0.07% in May 2017. Increases in prices
of vegetables, such as cabbages, carrots,
potatoes and peas, due to supply constraints
accounted for the rise in food inflation.

NATIONAL PAYMENTS SYSTEM

The total value of transactions processed
through the National Payment System (NPS)
increased by 21.2%, from US$6 954.94 million
registered
in
the
previous
month
to
US$8 430.11 million during the month of May
2017. The total volume of NPS transactions also
increased by 17.6%, to 69 324 793 in May 2017,
from 58 962 241 in the previous month.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
RTGS system stood at US$4 974.01 million in
May 2017, up from US$4 178.78 million in the
previous month. RTGS transaction volumes
increased by 46.2%, from 363 743 recorded in
April 2017 to 531 783 in May 2017.
Source: Reserve Bank of Zimbabwe, 2017


Cash transactions
Cash transactions declined by 6.3%, from
US$459.61
million
in
April

to
US$430.67 million in May 2017.


0.8Figure 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 stood at US$1 558.64 million in
May 2017, up from US$1 130.11 million in
April 2017.

Card Based Transactions
Card based transactions closed the month of
May 2017 at US$602.49, up from US$506.14
million recorded in the month of April 2017.

Cheque Transactions
The value of cheque transactions increased by
36.7%, to close the month of May 2017 at
US$6.52 million.

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

13. National Payments System Statistics


13.1 Values of Transactions

13.2 Volumes of Transactions

14. Merchandise Trade Statistics

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

Central Bank(net)

Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)

Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad Mon

Broad Money-M2

Other Deposits

Narrow Money-M1

Transferable Deposits

Currency Outside Depository Corporations

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

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

May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
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)
5,139,744.94

5,132,752.46

5,060,208.14

5,148,766.23

5,245,432.00

5,321,500.90

5,442,974.41

5,549,018.98

5,580,169.12

5,639,870.63

5,709,300.08

5,875,774.29

5,952,966.10

Domestic Claims
5,005,193.51

5,052,675.36

4,986,309.07

4,950,022.79

5,022,442.51

5,110,022.06

5,157,302.61

5,249,484.24

5,193,549.03

5,210,748.62

5,374,818.07

5,496,061.61

5,599,314.81

Net Claims on Central Government
1,346,836.50

1,415,342.33

1,425,743.21

1,396,177.93

1,446,944.29

1,503,220.41

1,472,146.07

1,528,867.51

1,617,356.78

1,673,670.22

1,722,915.15

1,893,632.91

1,910,530.23

Claims on Central Government
1,366,342.2357

1,440,948.5355

1,476,643.9874

1,443,114.9290

1,490,684.3763

1,546,271.8214

1,518,299.1187

1,571,032.9250

1,670,420.5050

1,728,929.8577

1,809,816.2513

1,969,866.9249

1,985,634.2076

Securities
1,354,054.4800

1,412,869.1273

1,450,083.5207

1,420,220.1988

1,463,404.5297

1,517,535.6764

1,500,671.4257

1,553,239.1020

1,654,534.6290

1,713,961.3077

1,794,113.0553

1,954,045.2049

1,968,887.3446

Loans
12,287.7557

28,079.4082

26,560.4666

22,894.7303

27,279.8466

28,736.1450

17,627.6930

17,793.8230

15,885.8760

14,968.5500

15,703.1960

15,821.7200

16,746.8630

Other
0.0000

-

-

-

(0.0000)

-

(0.0000)

0.0000

(0.0000)

0.0000

-

(0.00)

(0.00)

Less Liabilities to Central Government
(19,505.7319)

(25,606.2057)

(50,900.7775)

(46,937.0009)

(43,740.0913)

(43,051.4118)

(46,153.0502)

(42,165.4109)

(53,063.7244)

(55,259.6416)

(86,901.1009)

(76,234.0149)

(75,103.9806)

Claims on Other Sectors
3,658,357.0053

3,637,333.0280

3,560,565.8611

3,553,844.8587

3,575,498.2216

3,606,801.6478

3,685,156.5434

3,720,616.7211

3,576,192.2507

3,537,078.4083

3,651,902.92

3,602,428.70

3,688,784.58

Other Financial Corporations
107,910.72

110,807.60

120,221.91

116,453.99

117,440.18

106,745.29

109,892.67

102,641.44

100,223.50

60,600.81

61,686.40

63,543.47

77,258.00

State and Local Government
41,512.09

40,448.43

48,803.79

47,676.40

43,554.41

41,728.47

37,784.82

34,237.41

35,909.11

35,006.53

34,312.18

34,732.93

36,595.52

Public Non Financial Corporations
106,151.42

98,902.80

100,732.47

100,520.49

93,825.28

103,499.64

101,612.03

86,631.35

84,675.48

84,417.84

86,380.62

90,267.74

88,656.44

Private Sector
3,402,782.78

3,387,174.20

3,290,807.69

3,289,193.98

3,320,678.35

3,354,828.25

3,435,867.03

3,497,106.53

3,355,384.15

3,357,053.23

3,469,523.72

3,413,884.55

3,486,274.63

Claims on the Central Bank
974,597.542

1,017,467.818

1,055,340.530

1,178,684.455

1,209,909.110

1,156,606.119

1,323,120.314

1,435,556.219

1,475,197.651

1,507,778.322

1,498,477.568

1,505,940.672

1,505,814.461

Bond Notes and Coins
1,532.941

1,614.904

1,620.368

1,580.191

1,627.106

1,420.818

4,565.027

16,563.071

20,206.055

19,301.209

12,559.660

10,691.409

13,438.609

Reserves
973,064.600

1,015,852.915

1,053,720.162

1,177,104.264

1,208,282.003

1,155,185.301

1,318,555.287

1,418,993.147

1,454,991.597

1,488,477.113

1,485,917.908

1,495,249.263

1,492,375.852

Liabilities to the Central Bank

Other Items(Net)
840,045.85

937,390.03

981,438.87

979,940.77

986,918.90

945,127.17

1,037,448.30

1,134,271.35

1,088,577.32

1,078,654.52

1,162,242.90

1,126,224.85

1,152,162.40

Shares and Other Equity
1,156,527.44

1,160,998.70

1,174,877.57

1,188,635.39

1,194,352.25

1,211,644.10

1,228,902.77

1,271,826.05

1,272,987.21

1,279,285.69

1,301,867.36

1,295,023.50

1,310,286.87

Liabilities to other financial corporations
36,751.26

47,396.74

46,151.88

41,248.99

36,195.23

28,299.00

28,777.63

48,770.44

41,105.95

43,353.63

41,885.62

41,887.59

42,243.24

Other Items(Net)
(353,232.85)

(271,005.41)

(239,590.58)

(249,943.61)

(243,628.59)

(294,815.93)

(220,232.10)

(186,325.14)

(225,515.85)

(243,984.80)

(181,510.08)

(210,686.24)

(200,367.71)

Deposits and Securities Included in Broad Money
5,019,767.89

5,103,294.98

5,047,074.28

5,167,680.67

5,263,571.88

5,302,500.30

5,397,590.93

5,567,120.14

5,579,371.63

5,654,297.27

5,734,703.72

5,960,513.96

6,009,210.65

Deposits Included in Broad Money
4,948,151.42

5,022,342.85

4,975,283.25

5,086,840.39

5,189,453.59

5,229,143.63

5,353,728.76

5,504,225.78

5,528,809.61

5,594,968.03

5,674,542.57

5,897,221.76

5,947,817.72

Transferable Deposits
3,388,678.88

3,453,134.13

3,457,573.92

3,533,492.69

3,654,543.14

3,720,200.45

3,886,146.76

4,032,568.59

3,983,863.96

4,042,323.47

4,144,685.59

4,366,516.18

4,389,399.64

Other Deposits
1,559,472.54

1,569,208.72

1,517,709.33

1,553,347.70

1,534,910.45

1,508,943.19

1,467,582.00

1,471,657.19

1,544,945.66

1,552,644.56

1,529,856.98

1,530,705.58

1,558,418.08

Money Market Instruments
71,616.46

80,952.14

71,791.03

80,840.29

74,118.29

73,356.67

43,862.17

62,894.35

50,562.02

59,329.24

60,161.15

63,292.20

61,392.93

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

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


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

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

Jan


Feb


Mar


Apr


May


June


July


Aug


Sep


Oct


Nov


Dec


Jan


Feb


Mar


Apr


May


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

TOTAL
End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
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
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


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

Mar

Apr

May

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


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

Mar

Apr

May

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

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

Mar

Apr

May

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

End Period
Nominal Lending Rates

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
Source:Reserve Bank of Zimbabwe, 2017
Notes
TABLE 8.1: LENDING RATES (percent per annum)
1. Nominal Lending Rates depict the range of rates quoted by banks.
Commercial Banks
Weighted Average Lending Rates

END OF
SAVINGS
3 MONTHS

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

Jan
0.50-6.00
1.00-17.00
Feb
0.50-6.00
1.00-17.00
Mar
0.50-6.00
1.00-17.00
Apr
0.50-6.00
1.00-17.00
May
0.50-6.00
1.00-6.50**
Source:Reserve Bank of Zimbabwe, 2017
* The range of rates qouted by banks during the period.
**banks have adjusted their costs of holding deposits following the call by the RBZ to reduce lending rates.
TABLE 8.2 : BANKS DEPOSIT RATES (percent per annum)*
COMMERCIAL BANKS

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


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

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

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

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

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

(US$ millions)
End Period

Long-Term External Debt

Government

Bilateral Creditors

Multilateral Creditors

Private Creditors

Public Enterprises


Bilateral Creditors

1,155

Multilateral Creditors

Private Creditors

Monetary Authorities

Multilateral Creditors - IMF

Private


Short-Term External Debt

1,198
1,382
1,289


Supplier's Credits

Reserve Bank

Private

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

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

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

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC


Jan

Feb

Mar

Apr

May

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

Market Capitalisation
US$ millions

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

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

Mar

Apr

May

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

MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Annual Total


Jan

Feb

May

Apr

May

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

Month
Exports
Imports
Total Trade
Trade Balance

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total


Jan

Feb

Mar

Apr

May

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