Monthly Economic Updates
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- Category: Economic Update
Despite a contraction in the primary sector, all other sectors advanced which boosted the domestic economy over June. This is linked to preparations for the coronation in July. Agricultural exports volume fell by 50.9% due to declines in root and vegetable products.
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- Category: Economic Update
The domestic economy expanded over the month of May. Favourable weather conditions in recent months helped the agricultural sector improve. Agricultural exports volume increased by 23.2% due to increases in exports of root crops.
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- Category: Economic Update
The local economy was vibrant over the month of April. Agricultural exports volume increased by 12.9% due to a rebound in root vegetable exports. Proceeds collected during the month from agricultural exports also showed an increase of 18.3%.
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- Category: Economic Update
Domestic economic activities were mixed during the month of March but remained broadly positive. Primary activities as indicated by banking data, generally declined over the month. Fisheries proceeds increased by 5.5%, whilst agricultural proceeds declined by $0.2 million.
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The domestic economy bounced back in February after a downturn in the previous month. The primary sector rebounded with a 12.4% rise in agricultural exports volumes due to the commencement of yam and breadfruit harvest season. Banking data also showed proceeds for agricultural products increased by 65.8%. Fisheries receipts also more than trippled over the month indicating a lively sector.
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- Category: Economic Update
The domestic economy took a downturn over the month of January. However, this reflects more the seasonality of economic activities rather than signalling a weakening economy. The primary sector contracted in line with declines in agricultural and fisheries activities.
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Domestically, economic growth was broadly positive despite a flagging primary sector. The agricultural sector contracted in line with export volumes declining by 37.0% relative to the same time last year. The decline was due to recent drought affecting crops’ yields.
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- Category: Economic Update
Domestically, economic growth was broadly positive despite a flagging primary sector. The agricultural sector contracted in line with export volumes declining by 37.0% relative to the same time last year. The decline was due to recent drought affecting crops’ yields.
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- Category: Economic Update
Domestically, on balance, the economy grew slightly amid mixed results from partial indicators of domestic activity. We expect that hotels and restaurants’ activity was adversely affected by a decline of 13.2 per cent in international arrivals over the month.
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- Category: Economic Update
Domestic economic activities were positive over the month. Agricultural export volumes grew by 34.6% mainly driven by taro exports and the addition of ‘butterkin’ squash to Tonga exports. Agricultural export receipts also doubled over the month supporting growth.
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- Category: Economic Update
Domestically, on balance, the economy grew slightly amid mixed results from partial indicators of domestic activity. We expect that hotels and restaurants’ activity was adversely affected by a decline of 13.2 per cent in international arrivals over the month.
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- Category: Economic Update
The domestic economy continues to show signs of subdued growth, with mixed signals from key sectors. July’s container registrations dropped, as conditions returned to business‐as‐usual following activity around preparations for national festivities.
