Tonga's official foreign reserves declined substantially in September 2026 by $40.5 million to $943.9 million, driven mainly by external debt repayment and higher import payments. Consequently, the months of imports cover also declined to 9.9 months however, still above the IMF’s recommended threshold of 7.5 months. Over the year, foreign reserves increased by $46.7 million.

OFFICIAL FOREIGN RESERVES *
(millions of pa'anga)

Months Level Changes Ration of official foreign reserves to imports (months)
Month 12 Months
2025
January 878.0 -11.1 -16.7 10.1
February 865.4 -12.6 -26.0 9.9
March 842.6 -22.8 -26.1 9.7
April 867.6 25.0 -37.3 10.0
May 871.5 4.0 -21.5 10.0
June 925.1 53.5 0.7 10.6
July 921.0 -4.1 11.9 10.7
August 921.1 0.1 15.6 10.7
September 897.2 -24.0 9.7 10.4
October 939.5 42.3 41.3 10.9
November 940.3 0.9 48.2 10.9
December 961.7 21.4 72.7 11.2
2026        
January 958.6 -3.2 80.6 11.1
February 959.6 1.0 94.2 11.2
March 924.5 -35.1 81.9 10.8
April 938.9 14.4 71.4 10.9
May 970.9 32.0 99.3 11.3
June 991.8 20.9 66.7 11.5
July 986.7 -5.1 65.7 10.3*
August 984.4 -2.3 63.3 10.3
September 943.9 -40.5 46.7 9.9
* May not aggregate precisely due to rounding
Source: National Reserve Bank of Tonga

Previous Foreign Reserves Statistics

2025