i


FEBRUARY 2018

TABLE OF CONTENTS


January

February
Month-on-
Month
Change (%)
Z.S.E. Mining Index1
130.42
124.91
-4.22
Z.S.E. Industrial Index1
305.33
294.55
-3.53
National Payment System Transactions
(US$ millions)
10 596 .92
8 962.11
-15.4
Money Supply (US$ millions)2
7 837.57
7 825.33
0.16
Money Supply (M3) Annual Growth2 (%)
38.39
35.58

Yearly Inflation3 (%)
3.52
2.98

Monthly Inflation3 (%)
0.30
0.08

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

During
the
month
of
February
2018,
international commodity prices of precious and
base metals increased. Crude oil prices,
however, retreated during the same period.

Precious Metals

Precious metals continued on an upward trend,
with gold prices firming by 0.1%, from
US$1,332.17/oz in the previous month to
US$1,333.04/oz in February 2018. Similarly,
platinum prices increased from US$994.22/oz
in January 2018, to US$996.48/oz in February
2018. This followed the dampening of
expectations of an interest rate hike by the
Federal Reserve.
Figure 1: Precious metal prices
Source: Bloomberg, 2018

Base Metals
Copper prices registered a 1.9% increase to
close the month of February 2018 at
US$7,266.78/ton. Nickel prices, also increased
by 5.8%, from US$12,863.41/ton in January
2018 to US$13,608.75/ton, in February 2018.
The base metal prices firmed on the back of
easing economic growth concerns in China,
following the release of positive data on China’s
growth outlook. The positive outlook boosted
the demand prospects for base metals in China,
the world’s largest base metal consumer.
Figure 2:Base metal prices
Source: Bloomberg, 2018
Brent Crude Oil
Crude oil prices declined by 5.0%, from
US$69.04/barrel
in
January

to
$ 65.60/barrel, during the month under review.
The prices were weighed down by an
unexpected rise in US stockpiles, coupled with
the increase in crude oil production.
Figure 3: International crude oil prices
Source: Bloomberg, 2018

Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Gold
Platinum

10000
12000
14000

Feb-17
Apr-17
Jun-17
Aug-17
Oct-17
Dec-17
Feb-18
NICKEL US/TON
COPPER US$/TON
Copper
Nickel

Feb-16
Apr-16
Jun-16
Aug-16
Oct-16
Dec-16
Feb-17
Apr-17
Jun-17
Aug-17
Oct-17
Dec-17
Feb-18

MERCHANDISE TRADE
DEVELOPMENTS

Total merchandise trade stood at US$922.0
million in February 2018, a 24.3% increase from
US$740.9 million recorded in January 2018.
Merchandise
exports
for
February

amounted to US$347.2 million, representing a
37.9% increase from US$347.2 million realized
in January 2018. Merchandise imports during
the month under review were 17.4% higher than
the previous month, at US$574.7 million.
Merchandise Exports
During the month under review, gold, flue-cured
tobacco, nickel (mattes, ores & concentrates)
ferrochrome and ferrochrome dominated the
country’s exports, contributing about 80% of
total export earnings.

Table 1: Exports Classified by HS Code
Product
Feb-18
US$m
Feb-18
Share of
Total
Exports
(%)
Semi-manufactured
gold
100.6
29.0
Flue-cured tobacco
75.8
21.8
Nickel mattes
46.1
13.3
Nickel ores and
concentrates
36.9
10.6
Ferro-chrome
18.9
5.5
Chromium ores and
concentrates
7.2
2.1
Coal (Coke)
5.3
1.5
Unwrought Platinum
3.9
1.1
Blake tea
3.5
1.0
Granite
2.2
0.6
Other
46.9
13.5
Total
347.2
100.0
Source: Zimstat, 2018 & RBZ Calculations, 2018
The country’s exports for the month under
review were mainly destined for the SADC
region, with South Africa and Mozambique
absorbing about 63.7% and 7.8% of total
exports, respectively. Figure 4 shows the
country’s major export destinations during the
month under analysis.

Figure
4: Major
Merchandise Export
Destinations (% Share of Total)

Source: Zimstat, 2018 & RBZ Calculations, 2018
Merchandise Imports
Energy imports, namely; diesel, petrol and
electricity, dominated the country’s import bill
during the month under analysis, accounting for
about 21.0% of total imports.
The source of imports by country was as
follows: South Africa (45.5%), Singapore
(15.4%), China (5.4%), United Kingdom
(3.2%); and Mauritius (3.1%).


South
Africa
63.7%
Mozambique
7.8%
UAE
11.3%
Zambia
1.8%
Germany
0.3%
Namibia
0.2%
Netherlands
0.1%
Botswana
0.6%
Malawi
0.5%
Italy
0.1%

Figure 5: Major Merchandise Import
Sources (% Share of Total)

Source: Zimstat, 2017 & RBZ Calculations, 2018

Trade balance
The merchandise trade developments during the
month under review resulted in a trade deficit of
-US$228.6 million. This was 4.2% lower than
the -US$238.5 million trade deficit recorded in
January 2018.


1 Provisional figures
2 Beginning January 2017, broad money is redefined using
IMF’s Monetary and Financial Statistics Manual of 2000.
Figure 6: Merchandise Exports, Imports &
Trade Balance (US$m): Jan-Feb 2018

Source: Zimstat, 2017 & RBZ Calculations, 2018

MONETARY DEVELOPMENTS1

Broad money supply2 stood at US$7 825.33
million in February 2018, registering an annual
growth of 35.58%, from US$5 771.61 million
in February 2017. The growth was due to
increases in transferable deposits, 47.28%; and
negotiable certificates of deposits3, 27.01%.
Time deposits, however, declined by 6.04%.
Bond notes and coins in circulation increased
from US$113.38 million in February 2017, to
US$331.84 million in February 2018.

On a month-on-month basis, broad money
declined by 0.16%, from US$7 837.57 million
in January 2018 to US$7 825.33 in February
2018. This was on the back of a 6.88% decline
The major change is the exclusion of Government deposits
held by banks from broad money.
3 NCDs are also referred to as securities included in broad
money.

South Africa
Singapore
China
United Kingdom
Mauritius
India
Japan
United Arab Emirates
France
Zambia
Mozambique
Other
Percent


Jan'2018
Feb'2018
Exports
Imports
Trade Balance

in reserve money, from US$2 475.79 million in
January 2018 to US$2 305.52 million February
2018.

Figure 7: Money Supply


Source: Reserve Bank of Zimbabwe, 2018

During the month under review, broad money
comprised of transferable or transitory deposits,
76.15%; time deposits, 18.64%; currency in
circulation, 4.24%; and negotiable certificates
of deposits, 0.96%.


Figure 8: Composition of Money Supply
February 2018
Source: Reserve Bank of Zimbabwe, 2018
Domestic credit increased by 38.35%, from
US$7 606.21 million in February 2017 to
US$10 523.40 million in February 2018. The
growth was largely driven by a 61.09% increase
in net credit to Government. On a month-onmonth basis, domestic credit registered a 0.50%
increase, from US$10 471.11 million in
January 2018 to US$10 523.40 in February
2018.
Credit to the private sector stood at
US$3 587.17 million in February 2018, a 6.17%
increase from $3 378.77 million in February
2017.
On a month-on-month basis, credit to the private
sector
increased
by
0.28%,
from
US$ 3 577.05 million in January 2018 to
US$3 587.17 million in February 2018.


-10


US$ BILLIONS
M3
M3 Annual Growth rate
Transferable Deposits
76.15%
Other Deposits
(Time)
18.64%
NCDs
0.96%
Bond
Notes and
Coins
4.24%

Figure 9: Sectoral Distribution of Credit
Source: Reserve Bank of Zimbabwe, 2018
During the month of February 2018, outstanding
credit to the private sector was distributed as
follows:
households, 23.75%;
agriculture,
18.75%;
services,
15.12%;
distribution,
12.12%; manufacturing, 10.95%; financial
organisations and investments, 10.69%; mining,
4.17%; construction, 2.30%; transport; and
communications, 1.57% and other,0.58%.
Private sector credit was channelled towards
inventory build-up, 28.18%; consumer durables,
19.60%; fixed capital investment, 11.66%; and
pre and post shipment financing, 1.06%.
Amounts
utilised
for
other
recurrent
expenditures constituted 39.51% of the total
outstanding loans and advances, during the
month under review.
STOCK MARKET DEVELOPMENTS

Bearish investor sentiments persisted on the
Zimbabwe Stock Exchange (ZSE) during the
month under analysis. Resultantly, the All Share
Index (ASI) registered a 3.60% decline, from
91.32
points
in
January
2018,
to
88.03 points in February 2018. This largely
reflected price correction, following the stock
price bubble of the second half of 2017.

Figure 10: Zimbabwe Stock Exchange All
Share and top 10 Indices

Source: Zimbabwe Stock Exchange,2018


Similarly, industrial and mining indices
declined by 3.54% and 4.22%, to close the
month under review at 294.55 points and
124.91 points, respectively.

Figure 11: Zimbabwe Stock Exchange
Indices
Source: Zimbabwe Stock Exchange, 2018
Households
23.75%
Agriculture,
18.75%
Manufacturing, 10.95%
Services,
15.12%
Distribution, 12.12%
Financial
Organisations
, 10.69%
Mining,
4.17%
Transport and
Communication,
1.57%
Construction, 2.30%
Other, 0.58%

2-Jan-18
6-Jan-18
10-Jan-18
14-Jan-18
18-Jan-18
22-Jan-18
26-Jan-18
30-Jan-18
3-Feb-18
7-Feb-18
11-Feb-18
15-Feb-18
19-Feb-18
23-Feb-18
27-Feb-18
Figure 1: ZSE All Share and Top
10 Indices
All Share Index
Top 10 Index

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
31-Dec-17
31-Jan-18
28-Feb-18
Industrial
Mining

The volume of shares traded closed the month
of February 2018 at 138.14 million, up from
55.03 million shares in January 2018. This was
underpinned by block trades of 23.3 million
First Mutual Properties shares, 13.3 million
Mashonaland Holdings shares, 3.47 million
Dairibord Holdings shares, 2.97 million Meikles
shares, 2.02 million Econet Wireless shares and
0.99 million Delta Corporation shares that
exchanged hands at 5 cents, 2.99 cents, 11.15
cents, 30 cents, 68 cents and 158.5 cents,
respectively.
The ZSE market turnover also increased by
102.95%, from US$31.40 million in January
2018 to US$63.74 million, during the month
under review.
Foreign
investor
participation,
however,
retreated, reflected by a net outflow of $2.05
million in February 2018, compared to the net
inflow of $12.37 million in the previous month.

Figure 12: ZSE Monthly Volumes and Values
Traded

Source: Zimbabwe Stock Exchange, 2018
ZSE market capitalisation stood at $8.39 billion
in February 2018 a 3.08% decline from US$8.65
billion registered in January 2018.

INFLATION OUTTURN

Annual Inflation

The annual headline inflation slowed down to
2.98% in February 2018, from 3.52% registered
in January 2018. This was on account of the
decelaration in food inflation.
Annual food inflation declined from 6.17% in
January 2018 to 4.35% in February 2018. Non
food inflation, however, accelerated from 2.29%
in January 2018, to close the month under
review at 2.33%.
Figure 9 shows annual inflation developments
from January 2016 to February 2018.
Figure 13:Annual Inflation (%)

Source: ZIMSTAT, 2018
Monthly Inflation

Monthly inflation stood at 0.08% in February
2018, down from 0.3% in January 2018, on
account of both food and non-food inflation.


1,000
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Values Traded (US$ Millions)
Volumes Traded (Millions)
Volume
Turnover
-4.5
-3
-1.5

1.5

4.5

Feb-16
May-16
Aug-16
Nov-16
Feb-17
May-17
Aug-17
Nov-17
Feb-18
Headline Inflation
Food
Non Food

Figure 14: Month On Month Inflation


Source: ZIMSTAT, 2018
Month-on-month food inflation fell by 0.57
percentage points from 0.39% in January 2018,
to -0.18% in February 2018. Food inflation was
largely driven by declines in prices of bread and
cereals, meat, oils and fats, and coffee, tea and
cocoa.
Monthly non-food inflation decelerated to
0.21% in February 2018, from 0.25% in
January 2018. This was, in large part, accounted
for by the decline in transport services.

NATIONAL PAYMENTS SYSTEM

The total value of transactions processed
through the National Payment System (NPS)
platform registered a 15.7% decline, to close the
month of February 2018 at US$8.96 billion.
Similarly, the volume of NPS transactions
declined by 10.9%, from 124.93 million in
January

to
111.37
million
in
February 2018.


Zimbabwe Electronic Transfer Settlement
System (ZETSS)

During the month of February 2018, the value
of transactions processed through the RTGS
system stood at US$4.71 billion, down from
US$5.55 billion in January 2018. RTGS
volumes
also
declined
from

transactions in the previous month, to 457 188
transactions during the month under review.
Figure 15: ZETTS Volumes and Values
Source: Reserve Bank of Zimbabwe, 2018

Cash transactions
The total value of cash transactions stood at
US$204.78 million in February 2018, down
from US$220.5 million in January 2018.
Mobile and Internet Based Transactions
Mobile and internet based transactions closed
the month under review at US$2.85 billion,
registering a 16.82% decline from the previous
month value of US$3.3 billion.

Feb-16
May-16
Aug-16
Nov-16
Feb-17
May-17
Aug-17
Nov-17
Feb-18


VALUE IN US$ BILLIONS
VOLUME IN THOUSANDS
Volume
Value

Card Based Transactions
Card based transactions declined from
US$684.74 million in January 2018, to
US$607.93 million in February 2018.
Cheque Transactions
The value of cheque transactions also decreased
by 8.7%, from US$4.89 million in the previous
month to US$4.47 million in February 2018.

APRIL 2018
RESERVE BANK OF ZIMBABWE

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

Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Net Foreign Assets

Central Bank(net)

Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Central Bank

ODCs

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)

Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Deposits and Securities Excluded from Base Mone

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad M

Broad Money-M2

Other Deposits

Narrow Money-M1

Transferable Deposits

Currency Outside Depository Corporations

Source: Reserve Bank of Zimbabwe,2018
Notes:
(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.
(ix) In December 2017, the statistics were adjusted in restrospect by reclassifying Securities issued under Aftrades from claims on government to claims on central bank
(x) In December 2017, the statistics were adjusted in restrospect by reclassifying amounts accessed by banks under the Aftrades from liabilities to Other Depository corporations and Other Financial Corporations to liabilities to Central Bank
TABLE 1: DEPOSITORY CORPORATIONS SURVEY (US$ '000)

Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Jan-18
Feb-18
Net Foreign Assets

Claims on Non Residents

Official Reserves Assets

Other Foreign Assets

Less Liabilities to Non Residents

Short Term Liabilities

Other Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Of which: Securities Other than Shares

Loans

Loans and Advances

Legacy Debt

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Of which: Loans

Other Liabilities to ODCs

Of which: Aftrades Balances

Securities

Other Items(Net)

Shares and Other Equity

Other Items(Net)

Liabilities to Other Resident Sectors

Deposits and Securities Excluded from Base

Monetary Base Incl. foreign currency clearing balances
Monetary Base
1,604,587.411 1,604,425.179 1,659,746.254 1,725,348.049 1,948,879.104 2,064,204.942 2,364,937.964 2,461,275.759 2,520,592.752 2,709,468.388 2,668,160.697 2,475,793.573
2,305,522.304
Bond Coins

Bond Notes

Liabilities to ODCs

Reserve Deposits

Other
1,467,941.594 1,446,635.592 1,492,786.162 1,520,837.740 1,728,301.189 1,838,460.100 2,135,122.534 2,166,837.091 2,181,116.178 2,331,782.192 2,286,227.877 2,071,823.239
1,908,121.603
Private Deposits

Source: Reserve Bank of Zimbabwe,2018
TABLE 2: CENTRAL BANK 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
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


Dec
12.58


Jan
23.42


Feb
19.97


Source:Reserve Bank of Zimbabwe,2018
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


Source:Reserve Bank of Zimbabwe,2018
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
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


Dec
11.43


Jan
22.40


Feb
18.34


Source:Reserve Bank of Zimbabwe,2018
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


Source:Reserve Bank of Zimbabwe,2018
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

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

Jan
2.35


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


Dec
1.05


Jan
0.90


Feb
1.52


Source:Reserve Bank of Zimbabwe,2018
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


Source:Reserve Bank of Zimbabwe,2018
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,2018
/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

Source: Reserve Bank of Zimbabwe,2018
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
US$ ('000)

End Period
Nominal Lending
Rates 1
Individuals
Corporate

Jan
4.00-18.00
10.61
6.68
Feb
4.00-18.00
10.06
6.52
Mar
4.00-18.00
9.12
7.02
Apr
4.00-18.00
9.25
7.02
May
4.00-18.00
9.17
7.03
Jun
4.00-18.00
9.01
7.05
Jul
4.00-18.00
8.94
7.05
Aug
4.00-18.00
8.88
6.95
Sep
4.45-18.00
8.86
7.01
Oct
4.45-18.00
9.66
7.06
Nov
4.45-18.00
9.66
7.03
Dec
4.45-18.00
9.39
7.00

Jan
4.45-18.00
9.33
6.99
Feb
4.45-18.00
9.57
6.93
Source:Reserve Bank of Zimbabwe, 2018
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
0.50-6.00
1.00-17.00
Feb
0.50-6.00
1.00-17.00
Mar
0.50-6.00
1.00-17.00
Apr
0.50-6.00
1.00-17.00
May
0.50-6.00
1.00-9.50**
Jun
0.50-6.00
1.00-12.00
Jul
0.50-6.00
1.00-12.00
Aug
0.50-6.00
1.00-12.00
Sep
0.50-12.00
0.75-8.00
Oct
0.50-12.00
0.75-8.00
Nov
0.50-12.00
0.75-8.00
Dec
0.50-12.00
0.75-8.00

Jan
0.22-12.00
0.75-8.00
Feb
0.22-12.00
0.75-8.00
Source:Reserve Bank of Zimbabwe, 2018
* Deposit rates depict the range of rates qouted by banks.
**Banks have adjusted their costs of holding deposits following the call by the RBZ to reduce lending rates.
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

Source:Zimstat, 2018
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

Source:Zimstat, 2018
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

Source: Reserve Bank of Zimbabwe, 2018
TABLE 11 : SELECTED INTERNATIONAL EXCHANGE RATES
1. Foreign currency per US dollar.

Market Capitalisation
END OF
US$ millions

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Source:Zimbabwe Stock Exchange ,2018
TABLE 12: ZIMBABWE STOCK MARKET STATISTICS
Industrial
Market Turnover
US$ million
Volume of Shares
Mining
Indices

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE

INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Source:Reserve Bank of Zimbabwe, 2018
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

Source:Reserve Bank of Zimbabwe, 2018
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)