i


APRIL 2017

Table of Contents


March

April
Month-on-
Month
Change
Z.S.E. Mining Index1
58.6
66.33
13.19%
Z.S.E. Industrial Index1
139.0
142.96
2.85%
National Payment System Transactions
(US$ millions)
7 011.4
6 954.94
-0.81%
Money Supply (US$ millions)2
5 879.9
6 116.8
4.03%
Money Supply (M3) Annual Growth2 (%)
20.0
22.67

Yearly Inflation3 (%)
0.21
0.48

Monthly Inflation3 (%)
0.03
0.05

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

During the month of April 2017, international
commodity prices for gold increased, whilst
those for platinum, copper, nickel and crude oil
retreated.


Precious Metals
Gold prices recorded the highest gains in almost
five months during the first two weeks of April
2017. This was on account of safe haven
demand for gold amid rising uncertainties over
US relations with Russia and North Korea.
Overall, gold prices rose by 2.57%, from an
average of US$1234.04/ounce in March 2017 to
an average of US$1265.83/ounce in April 2017
as the dollar weakens against major trading
currencies. The
upward
trend, however,
reversed during the second half of the month as
investors shifted focus to interest bearing assets.
Platinum prices declined by -0.22% from an
average of US$963.83/ounce in March 2017 to
US$961.68/ounce in April 2017. The decline
was underpinned by subdued demand.
Figure 1: Precious metals prices

Source: Bloomberg, 2017


Base Metals
The prices of base metals retreated during the
month of April 2017, amid concerns of a global
glut, triggered by slowing housing prices in
China, which is the biggest user of base metals.
Consequently, the average prices of copper and
nickel slumped by 1.7% and 6.7% to
US$5,712.32/ton and US$9,688.53/ton in April
2017, respectively.
Brent Crude Oil
During the month of April 2017 crude oil prices
stood at US$53.66/barrel from an average of
US$53.3/barrel in March 2017. Crude oil prices
were weighed down by signs of further gains in
U.S. crude output and lingering doubts over the
proposed extension of oil output cuts by OPEC.
Figure 2: International crude oil prices

Source: Bloomberg, 2017

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

MONETARY DEVELOPMENTS

Over the year to April 2017, broad money1 grew
by 22.67% to US$6 116.8 million, from
US$4 986.3 million recorded in April 2016. The
growth was largely driven by an increase of
31.22% in transferable deposits2. Partially
offsetting the increase, were declines of 20.99%
and 2.42% in negotiable certificates of deposits
(NCDs)3 and time deposits4, respectively.

On a month on month basis, broad money grew
by 4.03%, from US$5 879.9 million in March
2017. The expansion of money supply, in part,
reflects injection of new money into the banking
system through tobacco sales for which
US$206.4 million worth of tobacco had been
sold by end of April 2017.


Source: Reserve Bank of Zimbabwe, 2017

1 Beginning January 2017, 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.

The composition of broad money during the
month of April was as follows: transferable or
transitory deposits, 71.43% time deposits,
25.02%; currency in circulation, 2.51%; and
negotiable certificates of deposits, 1.03%.

Source: Reserve Bank of Zimbabwe, 2017
On an annual basis, domestic credit increased by
19.06%, from US$6 869.8 million April 2016 to
US$8 179.3 million in April 2017. For the
month of April, domestic credit increased by
2.95%, from US$7 920.2 million recorded in
March 2017, with claims on government
expanding by 6.44% and credit to the private
sector declining by 1.78%.

2 Transferable deposits made up of demand and savings
deposits.
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.
-5


US$ BILLIONS
Figure 9: Money Supply
Figure 9: Money Supply
M3
M3 Annual Growth rate
Transferable
Deposits
71.43%
Time
Deposits
25.02%
NCDs
1.03%
Currency outside
Depository
Corporations
2.51%Figure 10: Compo
Figure 10: Composition of Money Supply Ap
Money Supply April2017

Credit to the private sector5, recorded a decline
of 0.33% from $3 443.5 million in April 2016,
to US$3 432.0 million in 2017. The decline in
credit to the private sector is reflective of a
subdued bank lending.


Source: Reserve Bank of Zimbabwe, 2017
During the month under review, outstanding
credit to the private sector was distributed as
follows:
households,
22.10%;
agriculture,
16.51%; manufacturing, 13.97%; services,
13.56%; distribution, 13.16% and financial
organisations, 10.99%. Mining, transport and
communications and construction sectors,
which require long term capital investments,
accounted for only 5.19%, 2.34% and 1.70% of
total credit, respectively.
Private sector credit was utilised as follows:
inventory build-up, 28.75%; consumer durables,

5 Credit to the private sector now excludes claims on
other financial corporations, as well as claims on state
and local government (local authorities)
15.43%; fixed capital investment, 14.27%; and
pre and post shipment financing, 1.40%. Other
recurrent expenditures accounted for 40.15% of
the total outstanding loans and advances.

STOCK MARKET DEVELOPMENTS

The
Zimbabwe
Stock
Exchange
(ZSE)
continued on an upward trend at the back of
positive trading in heavily capitalised counters
despite low trading volumes. This resulted in
both
the industrial and mining indices
registering increases of 4.00 points and 7.77
points to close at 142.96 points and 66.33 points,
respectively, in April 2017. The increase in the
resources index was largely driven by improved
investor interest in RioZim Limited, following
the acquisition of a gold mining concern from
Falgold. This acquisition is expected to boost
RioZim’s gold production.

Source: Zimbabwe Stock Exchange, 2017
Households
22.10%
Agriculture
16.51%
Services
13.56%
Manufacturing
13.97%
Financial
Organisations and
investiments
10.99%
Distribution
13.16%
Mining
5.19%
Transport and
Communication
2.34%
Construction
1.70%
Other
0.48%Figure 11: Sectoral
Figure 11: Sectoral Distribution of Credit
Distribution of Credit

27-Apr-16
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
Figure 7: ZSE Indices
Industrial
Mining

The volume of shares traded on the ZSE market
decreased by 47.77% to 75.86 million in April
2017, compared to 145.24 million in the month
ending 31st March 2017. The low trading
activity in the market resulted in a 58.40%
decline in market turnover from US$26.93
million in March 2017 to US$11.20 million in
the month under review.

INFLATION OUTTURN

Annual Inflation

The annual headline inflation continued on an
upward trajectory, accelerating from 0.21% in
March 2017 to 0.48% in April. The increase in
inflation was driven by both food and non-food
inflation.


Source: ZIMSTAT, 2017
Year-on-year food inflation surged by 0.14
percentage points, from 1.21% in March 2017 to
1.35% in April 2017. Likewise, non-food
inflation increased from -0.25% in March to
0.08% in April 2017. The increase in food
inflation is largely attributable to the rise in the
price of imported food items, whose supply has
been affected by SI 64. It is, however,
anticipated that the good agricultural season and
the rise in import substitution for most food
items will dampen food prices in the medium
term, barring other domestic supply constraints.

Annual non-food inflation became positive at
0.08% in April 2017 from -0.25% in March
2017. For most goods and services, the price
increases were largely driven by supply
constraints, as domestic production remains
subdued due to relatively high domestic costs.

The largest price level increases in non-food
items over the year to April 2017, occurred in
secondary school tuition fees, rentals for fixed
telephones, rent in high density areas and fuels,
among others. The increases were, however,
partially offset by decline in prices of gas,
paraffin, carpets, among others.

Monthly Inflation


Month-on-month inflation increased from
0.03% in March 2017 to 0.05% in April 2017,
largely driven by increases in non-food
inflation, which surged from 0.15% in March to
0.25% in April 2017.

Source: ZIMSTAT, 2017


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

0.8Figure 13: M
Figure 13: M-
-O
O-
-M Inflation
M Inflation

Non-food inflation was driven by housing,
water, electricity, gas; other fuels; education;
communication; and restaurants and hotels.

Monthly food inflation, however, declined by
0.15 percentage points, from -0.21% in March
2017 to -0.36% in April 2017. This was on
account of decreases in bread and cereals; meat,
oils and fats; among others, associated with
seasonal increases in food supply at harvest.

NATIONAL PAYMENTS SYSTEM

During the month under review, the total value
of transactions processed through the National
Payment System (NPS) stood at US$6 954.94
million in April 2017, down from US$7 011.38
million in March 2017. The total volume of NPS
transactions, however, increased by 15%, from
50 729 474 in the previous month to 58 962 241
during the month under review.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
RTGS system declined by 9.7% to US$4 178.78
million in April 2017, from US$4 629.83
million recorded in March 2017. RTGS
transactions volumes also registered a 12%
decrease from 414 167 in March 2017 to
363 743 during the period under review.

Source: Reserve Bank of Zimbabwe, 2017


Cash transactions
Cash transactions increased by 45.1%, from
US$316.64
million
in
March

to
US$459.61 million during the month of April
2017.
Mobile and Internet Based Transactions
The total value of mobile and internet based
transactions closed the month of April 2017 at
US$1 130.11 million, up from US$1 071.32
million in March 2017.

Card Based Transactions
Card based transactions also increased from
US$451.00 million recorded in March 2017, to
US$506.14 million in April 2017.


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

Cheque Transactions
The value of cheque transactions declined by
35.3%, to close the month of April 2017 at
US$4.77 million.

RESERVE BANK OF ZIMBABWE
APRIL 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

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

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)

Mar-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
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)

Mar-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-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)
4,878,305.20

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

5,709,300.08

5,875,774.29

Domestic Claims
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

5,374,818.07

5,496,061.61

Net Claims on Central Government
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

1,722,915.15

1,893,632.91

Claims on Central Government
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

1,809,816.2513

1,969,866.9249

Securities
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

1,794,113.0553

1,954,045.2049

Loans
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

15,703.1960

15,821.7200

Other
-

-

-

-

(0.0000)

-

(0.0000)

0.0000

(0.0000)

0.0000

-

(0.00)

Less Liabilities to Central Government
(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)

(55,259.6416)

(86,901.1009)

(76,234.0149)

Claims on Other Sectors
3,737,772.8017

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

Other Financial Corporations
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

61,686.40

63,543.47

State and Local Government
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

34,312.18

34,732.93

Public Non Financial Corporations
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

86,380.62

90,267.74

Private Sector
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

3,355,384.15

3,357,053.23

3,469,523.72

3,413,884.55

Claims on the Central Bank
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

1,498,477.568

1,505,940.672

Bond Notes and Coins
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

12,559.660

10,691.409

Reserves
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

1,485,917.908

1,495,249.263

Liabilities to the Central Bank

Other Items(Net)
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

1,162,242.90

1,126,224.85

Shares and Other Equity
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

1,301,867.36

1,295,023.50

Liabilities to other financial corporations
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

41,885.62

41,887.59

Other Items(Net)
(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)

(181,510.08)

(210,686.24)

Deposits and Securities Included in Broad Money
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

5,734,703.72

5,960,513.96

Deposits Included in Broad Money
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

5,674,542.57

5,897,221.76

Transferable Deposits
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

4,144,685.59

4,366,516.18

Other Deposits
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

1,529,856.98

1,530,705.58

Money Market Instruments
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

60,161.15

63,292.20

source: Reserve Bank of Zimbabwe
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


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


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
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


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

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


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

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

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

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
Mar
4.00-18.00
9.12
7.02
Apr
4.00-18.00
9.25
7.02
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
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

Mar

Apr

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

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

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

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

MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

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

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

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