Over August, the balance of the overall OET recorded a deficit of $1.5 million following a surplus recorded last month. This stemmed largely from higher payments for services and import purposes. Find out more in the Overseas Exchange Transactions report for August 2018.

Over the month of July 2018, the total banks lending grew by 1.2% to $452.9 million, after recording a slight decline last month. Lending to both businesses and households increased over the month with business lending contributing the most. Read more in the Banking Sector Developments report for July 2018.

Over August 2018, total remittances increased by $1.5 million (4.9%) to $31.6 million. This mainly reflects the higher receipts from families abroad for church contributions, funeral expenses, and support towards other family and household matters. Read more in the Remittances Report for August 2018.

Sectoral performances in the local economy were mixed over the month. Total agricultural export volumes rose by 432.5 tonnes, reflecting the commencement of the squash season and higher export of root crops. On-going construction activities continued to boost performance in the secondary sector, supported by a rise in business loans for construction and individual housing loans.

Over the month of July 2018, the balance of the overall OET recorded a lower surplus of $7.7 million following the high surplus recorded last month. Over the year, the overall OET surplus balance rose by $26.1 million to $67.6 million. Find out more in the Overseas Exchange Transactions report for July 2018.

You are here: Home 2018 Releases News Economic Release