National Reserve Bank of Tonga

Foreign Reserves Statistics for June 2023

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Category: Financial Statistics
Last Updated: 12 July 2023

Tonga’s official foreign reserves increased over the month by $56.6 million to a record $921.4 million at the end of June 2023 equivalent to over 13 months of imports. The 13 months’ equivalent is higher than the optimum level of 7.5 months. The increase in reserves was driven by higher receipts of Government budget support and remittances. In year ended terms, the level of foreign reserves is higher in 2023 by $50.2 million compared to the same time in 2022.

OFFICIAL FOREIGN RESERVES *
(millions of pa'anga)

  Level Changes
 Ration of official foreign reserves to imports (months)
  Month 12 Months
2021        
November 783.9 26.9 193.7 13.0
December 817.5 33.6 141.9 13.4
2022        
January 856.1 38.6 150.8 13.9
February 867.3 11.1 174.9 14.4
March 861.4 -5.8 175.8 14.5
April 884.0 22.6 204.4 14.9
May 880.4 -3.6 190.9 14.7
June 871.2 -9.2 155.9 14.4
July 884.8 13.6 180.1 14.3
August 871.0 -13.8 119.3 14.0
September 895.3 24.2 138.2 14.2
October 877.0 -18.3 120.0 13.9
November 866.2 -10.8 82.3 13.5
December 868.9 2.7 51.4 13.4
2023        
January 911.1 42.2 55.0 13.8
February 911.2 0.1 43.9 13.7
March 883.7 -27.4 22.3 12.9
April 860.5 -23.2 -23.5 12.4
May 864.8 4.3 -15.6 12.4
June 921.4 56.6 50.2 13.1
Source: National Reserve Bank of Tonga

Official Foreign Reserves Collection

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