Foreign Reserves Statistics for October 2024

Tonga's official foreign reserves increased in October 2024 by $10.8 million driven by higher receipts of official grants and remittances. The level of foreign reserves was $898.2 million at the end of October 2024, sufficient to cover 10.3 months of imports, and well above the IMF's recommended threshold of 7.5 months. Similarly, the foreign reserves rose over the year by $7.0 million.

OFFICIAL FOREIGN RESERVES *
(millions of pa'anga)

  Level Changes
Ration of official foreign reserves to imports (months)
  Month 12 Months

2023        
February 911.2 0.1 43.9 12.6
March 883.7 -27.4 22.3 12.0
April 860.5 -23.2 -23.5 11.4
May 864.8 4.3 -15.6 11.5
June 921.4 56.6 50.2 11.9
July 945.2 23.7 60.3 12.3
August 920.0 -25.2 48.9 11.9
September 886.1 -33.8 -9.1 11.3
October 891.2 5.1 14.2 11.4
November 892.0 0.8 25.8 11.5
December 901.7 9.7 32.8 11.7

2024        
January 894.7 -7.1 -16.4 11.6
February 891.4 -3.2 -19.7 11.5
March 868.7 -22.7 -15.0 11.4
April 904.8 36.1 44.3 11.6
May 893.0 -11.8 28.3 11.5
June 924.3 31.3 2.9 11.9
July 909.1 -15.3 -36.1 11.5
August 905.5 -3.5 -14.4 10.4
September 887.4 -18.1 1.3 10.2
October 898.2 10.8 7.0 10.3

Source: National Reserve Bank of Tonga

Official Foreign Reserves Collection

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