i


AUGUST 2017

TABLE OF CONTENTS


July

August
Month-on-
Month
Change
Z.S.E. Mining Index1
69.44
73.47
5.80%
Z.S.E. Industrial Index1
203.25
235.03
15.64%
National Payment System Transactions
(US$ millions)
8 501.78
9 013.62
6.0%
Money Supply (US$ millions)2
6 564.0
7 075.5

Money Supply (M3) Annual Growth2 (%)
29.61
36.57

Yearly Inflation3 (%)
0.14
0.14

Monthly Inflation3 (%)
-0.36
-0.13

Nominal Lending Rate2 (% per annum)
4.0-18.0
4.0-18.0

Sources:
1. Zimbabwe Stock Exchange (ZSE)
2. Reserve Bank of Zimbabwe (RBZ)
3. Zimbabwe National Statistics Agency (ZIMSTAT)
SELECTED ECONOMIC INDICATORS

INTERNATIONAL COMMODITY PRICE
DEVELOPMENTS

International commodity prices of precious
metals, base metals and crude oil firmed during
the month of August 2017.
Precious Metals

Gold prices firmed by 3.8%, from a monthly
average of US$1,235.66/oz in July 2017 to
US$1,282.69/oz in August 2017. This was on
account of increased demand for the yellow
metal as a safe haven asset, following rising
uncertainties over U.S. relations with North
Korea. The yellow metal price was also buoyed
by lower long-term U.S. interest rates and the
lack of progress by the Trump adminstration in
delivering economic reforms.
Monthly average prices of platinum also rose
by 6.1%, from a monthly average of
US$917.52/ounce
in
July

to
US$973.36/ounce in August 2017. The prices
were supported by rising worldwide vehicle
sales, a shift from diesel to gasoline vehicles in
Europe and tougher emissions legislation in
Europe, China and the U.S.
Figure 1: Precious metal prices

Source: Bloomberg, 2017

Base Metals
Base metal prices rallied during the month under
review,
occasioned
by
brighter
demand
prospects in China. The base metal prices also
rose, as efforts by Asian authorities to spur
economic growth boosted manufacturing sector
demand.
Copper and nickel prices increased by 8.4% and
14.8%, to close the month under review at
US$6,501.40/tonne and US$10,917.86/tonne,
respectively.
Brent Crude Oil
Average monthly crude oil prices registered a
4.6% increase, to close the month of August
2017 at US$51.94/barrel. This followed
indications that the world’s largest oil producing
countries were going to comply with their oil
supply cut deal.
Figure 2: International crude oil prices
Source: Bloomberg, 2017

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

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
Jun-17
Jul-17
Aug-17

MERCHANDISE TRADE
DEVELOPMENTS

Total merchandise trade for August 2017
amounted to US$806.2 million, representing an
8.0% increase from the US$746.2 million
recorded in the previous month. The increase
was underpinned by the significant growth in
exports during the month under analysis.

Merchandise Export Developments
Merchandise exports stood at US$358.1 million
in August 2017, a 35.6% increase from the
US$264.2 million recorded in July 2017. This
followed increases in exports of gold, tobacco,
ferro-chrome and diamond. Nickel mattes
exports, however, declined during the month
under review.
Gold, flue-cured tobacco and nickel were the
country’s major export commodities accounting
for about 67% of total export revenues.
Figure 3: Merchandise Exports (US$ m)


Source: Zimstat, 2017


Table 1: Exports Classified by HS Code
Product
July-17
US$m
August-17
US$m
Share of
total
Exports
(%)
Gold
74.9
104.8
35.9
Flue-cured
tobacco
33.9
62.6
13.6
Nickel mattes
38.8
39.1
11.0
Nickel ores and
concentrates
30.3
33.2
7.4
Ferro-chrome
19.5
27.8
4.9
Cane sugar
4.3
8.4
3.5
Industrial
Diamonds
-
8.3
2.1
Ginned Cotton
5.6
7.4
1.6
Chromium
ores
and concentrates
5.4
6.6
1.5
Platinum
3.7
5.8
1.4
Other
47.8
54.1
17.1
Total
264.2
358.1
100.0
Source: Zimstat, 2017 & RBZ Calculations, 2017
The country’s merchandise exports were
destined to South Africa, 61.4%; Mozambique,
11.4%; the United Arab Emirates, 7.2%;
Belgium, 2.3%; Zambia,1.5%; Kenya, 0.7%;
Botswana, 0.6%; Namibia, 0.4%; and Germany,
0.3%.

30.5

91.5

152.5

213.5

274.5

335.5

Jul-17
Aug-17

Source: Zimstat, 2017 & RBZ Calculations, 2017
Merchandise Import Developments
Merchandise imports continued on a downward
trend declining further by 7.1%, to close the
month under review at US$448.0 million. Fuel
and electricity imports accounted for the highest
proportion of total merchandise imports at
27.4%. Food imports consisted of crude soya
meal at 2.2% of total merchandise imports;
wheat, 1.4%; and maize, 1.2%
The country sourced imports mainly from
South Africa (41.7%); Singapore (16.5%);
China
(7.4%);
United
Kingdom
(7.0%),
Japan (2.7%); Zambia (2.4%); Hong kong
(2.3%); Mauritius, Mozambique and United
Arab Emirates (2.0% each); and India (1.7%),
during the month of August 2017.

Figure 5: Major Merchandise Import
Sources (% Share)

Source: Zimstat, 2017 & RBZ Calculations, 2017
Merchandise Trade Balance
The country’s merchandise trade deficit,
narrowed to -US$89.9 million in August 2017,
down from -US$217.9 million in July 2017.
This was largely driven by the increase in
exports during the month under analysis.
Figure 6: Merchandise Exports, Imports and
Trade Balance (US$m)

Source: Zimstat, 2017 & RBZ Computations, 2017
South
Africa
61.4%
Mozambique
11.4%
United
Arab
Emirates
7.2%
Zambia
1.5%
Kenya
0.7%
Botswana
0.6%
Namibia
0.4%
other
14.2%
Germany
0.3%
Belgium
2.3%Figure 4:Major Merchandise
Figure 4:Major Merchandise Export Destinations
Export Destinations
South Africa
Singapore
China
Zambia
Mozambique
Hong kong
Japan
India
Mauritius
U.A.E
U.K
Other

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

MONETARY DEVELOPMENTS


During the month under review, broad money1
stood at US$7 075.5 million, registering an
annual increase of 36.57%, from US$5 180.7
million in August 2016. The increase was
largely driven by an expansion of 46.98% in
transferable2 deposits and 3.32% in time
deposits3. Partially offsetting the increases, was
a 12.1% decline in negotiable certificates of
deposits (NCDs)4.

On a month-on-month basis, broad money
recorded a 7.79% growth, from US$6 564.0
million in July 2017 to US$7 075.5 million in
August 2017.


Source: Reserve Bank of Zimbabwe, 2017

1 Beginning January 2017, broad money was redefined using
the Monetary and Financial Statistics Manual of 2000. Major
changes include the exclusion of government deposits held by
banks from broad money.

Broad money comprised of transferable or
transitory deposits, 73.49%; time deposits,
22.68%; currency in circulation, 2.82%; and
negotiable certificates of deposits, 1.00%.

Source: Reserve Bank of Zimbabwe, 2017
Annual growth in domestic credit rose by
34.70% in August 2017, compared to 15.92% in
August 2016. The growth largely reflected a
63.22% annual expansion in net credit to
Government. On a month-on-month basis,
domestic credit increased by 5.5%, from
US$8.91
billion
in
July

to
US$9.40 billion in August 2017.

2 Transferable deposits made up of demand and savings
deposits.
3All classes of time deposits, short and long term are classified
as time deposits, which are also termed other deposits.
4 NCDs are also referred to as securities included in broad
money.
-5


Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
%
US$ BILLIONS
Figure 7: Money Supply
Figure 7: Money Supply
M3
M3 Annual Growth rate
Transferable
Deposits
73.49%
Other
Deposits
(Time)
22.68%
NCDs
1.00%
Bond
Notes and
Coins
2.82%Figure 8:
Figure 8: Composition of Money Supply
Supply August
August2017

Credit to the private sector registered an annual
increase of 8.48%, from US$3 315.1 million in
August 2016 to US$3 596.7 million in August
2017. Similarly, monthly credit to the private
sector increased by 3.0 %, from US$ 3 491.6
million in July 2017 to US$3 596.7 million,
during the month under review.
Source: Reserve Bank of Zimbabwe, 2017
The sectoral distribution of private sector credit
was as follows: households, 23.7%; agriculture,
17.6%; services, 16.1%; manufacturing, 12.0%;
financial organisations and investments, 10.6%;
distribution, 10.1%; mining, 5.3%; transport and
communications, 2.1%; and construction, 2.0%.
Credit to the private sector was mainly utilised
for inventory build-up, 30.3%; consumer
durables, 16.6%; and fixed capital investment,
13.1%.
STOCK MARKET DEVELOPMENTS

The
Zimbabwe
Stock
Exchange
(ZSE)
continued on an upward trend for the sixth
consecutive month in August 2017. Investors
opted for equities as safe haven investments,
given the limited investment options available in
the country. Resultantly, the industrial and
mining indices gained by 15.64% and 5.80% to
close the month of August 2017 at 235.03 points
and 73.47 points, respectively. On a year-on-
year basis, the industrial and mining indices
gained by 136.78% and 179.14%, respectively.


Source: Zimbabwe Stock Exchange, 2017
The ZSE market turnover, however, registered a
44.95% decline, to close at US$13.60 million in
August 2017. This was underpinned by thin
trading activity on the local bourse, reflected by
a decline in the volume of shares from
Households
23.7%
Agriculture,
17.6%
Manufacturing,
12.0%
Services,
16.1%
Distribution,
10.1%
Financial
Organisati
ons,
10.6%
Mining,
5.3%
Transport and
Communication,
2.1%
Construction,
2.0%
Other, 0.5%
Figure 9: Sectoral Distribution of
Credit

31-Aug-16
30-Sep-16
31-Oct-16
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
Figure 10: ZSE Indices
Industrial
Mining

149.4 million shares in July to 115.93 miilion,
during the month under review.
Foreign investor participation declined in
August 2017, registering a net outflow of
US$1.70 million, compared to a net purchase
position of US$1.55 million in the previous
month.
INFLATION OUTTURN

Annual Inflation

During the month of August 2017, annual
headline inflation remained unchanged from the
previous month level of 0.14% . This was on
account of an increase in non-food inflation,
which offset the decline in food inflation.
Annual non-food inflation rose from -0.67% in
July 2017 to 0.60% in August 2017. 2017. Yearon-year food inflation stood at 1.76% in August
2017, down from 1.92% in July 2017.


Source: ZIMSTAT, 2017
Monthly Inflation

Month-on-month inflation registered a 0.23
percentage points increase, from -0.36% in July
2017 to -0.13% August 2017. This was largely
on account of the increase in non-food inflation.


Source: ZIMSTAT, 2017
Monthly non-food inflation increased to 0.03%
in August 2017, from -0.33% in July 2017,
largely driven by increases in prices of clothing
and footwear, electricity, gas and other fuels,
and recreation and culture.

Month-on-month food inflation stood at -0.47%
in August 2017, down from -0.42% in July
2017. This was on the back of declines in prices
of bread and cereals, vegetables, milk, cheese
and eggs. Partially offsetting the declines were
increases in prices of meat, fish, oils and fats
sugar, jam, honey, chocolates and confectionary
and fruits.

NATIONAL PAYMENTS SYSTEM

The value of transactions processed through the
National Payment System (NPS) amounted to
US$9.01 billion, in August 2017. This was 6%
higher than the US$8.5 billion recorded in July
2017. In volume terms, total NPS transactions

Figure 11: Annual Inflation
(%)
Headline Inflation
Food
Non Food

0.8Figure 12: M
Figure 12: M-
-O
O-
-M Inflation
M Inflation

registered a 10% increase, to close the month
under review at 94.2 million transactions.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

Transactions processed through the RTGS
system

increased
by
10%,
from
US$4.81 billion in July 2017 to US$5.33 billion
in August 2017. The volume of RTGS
transactions closed the month of analysis at
541 521 transactions, up from 521 770
transactions recorded in July 2017.

Source: Reserve Bank of Zimbabwe, 2017
Cash transactions
Cash transactions closed the month of August
2017 lower at US$205.33 million, compared to
US$276.82 million in July 2017.
Mobile and Internet Based Transactions
The total value of mobile and internet based
transactions
rose
to
US$2.6
billion
in
August 2017, from US$2.2 billion in the
previous month.
Card Based Transactions
Card
based
transactions
stood
at
US$614.74 million in August 2017, down from
US$617.77
million
in
July
2017.

Cheque Transactions
Cheque transactions registered a 9.6%
decline,to close the month of August 2017 at
US$5.18million.


RESERVE BANK OF ZIMBABWE


VALUE IN US$ BILLIONS
VOLUME IN THOUSANDS
Figure 13: ZETSS Volumes and
Figure 13: 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

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

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

Aug-16
Sep-16
Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-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)
5,148,766.23

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

6,280,977.27

6,298,478.80

6,804,652.82

Domestic Claims
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

5,744,480.55

5,664,876.26

5,897,249.35

Net Claims on Central Government
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

1,988,366.03

1,949,894.23

2,053,882.03

Claims on Central Government
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

2,062,080.8211

2,027,953.6484

2,142,212.9900

Securities
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

2,014,158.1741

1,982,771.1424

2,100,894.1800

Loans
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

47,922.6470

45,182.5060

41,318.8200

Other
-

(0.0000)

-

(0.0000)

0.0000

(0.0000)

0.0000

-

(0.00)

(0.00)

(0.00)

-

-

Less Liabilities to Central Government
(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)

(73,714.7955)

(78,059.4171)

(88,330.9700)

Claims on Other Sectors
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

3,756,114.52

3,714,982.03

3,843,367.33

Other Financial Corporations
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

132,079.86

80,587.02

83,743.90

State and Local Government
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

35,573.02

34,059.17

34,223.63

Public Non Financial Corporations
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

98,878.45

142,891.35

171,759.70

Private Sector
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

3,489,583.19

3,457,444.48

3,553,640.10

Claims on the Central Bank
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

1,682,269.779

1,814,568.562

2,074,164.010

Bond Notes and Coins
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

7,361.926

7,148.374

12,310.360

Reserves
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

1,674,907.853

1,807,420.188

2,061,853.650

Liabilities to the Central Bank


1.79
Other Items(Net)
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

1,145,772.36

1,180,966.02

1,166,758.76

Shares and Other Equity
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

1,325,276.01

1,330,874.62

1,342,135.53

Liabilities to other financial corporations
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

46,601.91

35,579.93

22,829.02

Other Items(Net)
(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)

(226,105.56)

(185,488.52)

(198,205.79)

Deposits and Securities Included in Broad Mo
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

6,278,455.63

6,345,429.42

6,858,037.73

Deposits Included in Broad Money
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

6,212,788.17

6,279,146.84

6,786,983.35

Transferable Deposits
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

4,673,922.65

4,679,042.08

5,182,081.91

Other Deposits
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

1,538,865.52

1,600,104.76

1,604,901.44

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

65,667.46

66,282.58

71,054.38

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
Government1
Local Governemt
Public Enterprises
Other2
Government
Local
Public
Other Institutional Units3
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


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


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


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


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


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


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

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

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
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
1.00-9.50**
Jun
0.50-6.00
1.00-12.00
Jul
0.5-6.00
1.00-12.00
Aug
0.5-6.00
1.00-12.00
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 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

Mar

Apr

May

Jun

Jul

Aug

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

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

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)

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

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

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

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

May

Apr

May

Jun

Jul

Aug

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

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