Economic Update
Published on 04 February 2020
R
Tourist arrivals
171
thousand tourists
for December 2019
Tourist arrivals posted a growth of 14% at the end of December 2019 when compared with December 2018. Similar to the previous month, the growth in tourist arrivals largely reflected the boost in arrivals from the emerging source market of India, while arrivals from Europe, particularly Italy, also contributed to the growth.
R
Inflation
Measured by the annual percentage change in Consumer Price Index at the national level
1.3
percent
for December 2019
After recording 0.5% in November 2019, the rate of inflation as measured by the annual percentage change in the national CPI, accelerated to 1.3% in December 2019. Meanwhile, the monthly percentage change in the national CPI rose to 0.5% in December 2019, from -0.1% in November 2019. The largest contributors to the annual rate of inflation were vegetables (1.0 percentage points), rent (0.4 percentage points), domestic passenger air transport (-0.3 percentage points), and information and communication (-0.1 percentage points).
R
Fish exports
7.2
thousand metric tonne
as at November 2019
During November 2019, the volume of fish exports posted a 20% decline in annual terms. This was driven by decreases in the volume of frozen skipjack tuna, canned or pouched tuna and fresh or chilled yellowfin tuna exports; which offset the growth in export of frozen yellowfin tuna.
M
Broad money
Entire stock of currency and various types of deposits held by the public at depository institutions in an economy
36.3
billion rufiyaa
as at December 2019
Annual broad money (M2) growth accelerated to 10% at the end of December 2019. The growth in broad money was primarily due to an increase in quasi money, which reflected the increase in both transferable and other deposits denominated in foreign currency. Meanwhile, narrow money recorded a slight decline over the period.
E
Exports
Total export of goods, valued using the freight on board basis. This does not include the export of services.
32.5
million US dollar
as at November 2019
Total merchandise exports (f.o.b.) observed a 27% annual decline in November 2019 when compared with November 2018. The decline in total exports was mainly owing to fall in domestic exports and also re-exports. The decrease in domestic exports was mainly due to a marked fall in export earnings from frozen skipjack tuna as well as fresh or chilled yellowfin tuna exports. Additionally, earnings from canned or pouched tuna exports also registered a decline.
E
Imports
Total import of goods, valued including the cost of insurance and freight. This does not include the import of services.
266.8
million US dollar
as at November 2019
Total imports (c.i.f.) increased by 3% in November 2019 when compared with November 2018. - The growth in total imports was mainly due to the sizable increase in imports of transport equipment and parts; electrical and electronic machinery and equipment; as well as electronic and electrical appliances.
E
Gross international reserves
National reserve of the country
753
million US dollar
as at December 2019
Gross international reserves amounted to US$753.0 million at the end of December 2019.This was an increase of 6% and 25% in annual and monthly terms, respectively.