The total agricultural exports in March almost doubled the exported volume recorded last month, rising by 335.5 tonnes (94.8%) over the month. Almost all exported agricultural commodities increased except for a few crops which were damaged during the cyclone. Read more in the Agricultural Exports Volumes report for March.

The Reserve Bank expects a rebound for the fisheries sector in 2017/18 following a negative growth recorded in 2016/17. This is due to successful market development for our fisheries products as reflected in the recent high volume of exported aquarium products. Read more in the Marine Exports Volume for March 2018.

The domestic prices rose significantly over the month by 15.4%, the highest monthly increase in history, causing an overall monthly inflation rate of 6.6%. The monthly inflation was solely driven by the marked increase in domestic food prices particularly for fruits and vegetables. Read more in the Inflation report for March 2018.

The arrival of scheduled cargo vessels has returned to normal operations after the disruptions caused by Tropical Cyclone (TC) Gita in February 2018. During the month, eleven cargo vessels arrived in Tonga compared to six cargo vessels in February 2018. Read the Container Registrations for March 2018.

Total banks’ lending increased over March by $4.1 million (0.9%) and over the year by $52.4 million (13.4%). Total bank deposits increased over the month by $4.5 million (0.8%) to $581.7 million. Read more in the Banking Sector Developments report for March 2018.

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