Current Account in Israel
Israel - Current AccountAccording to preliminary data, growth ebbed slightly over 2019 as a whole compared to 2018, but was likely still well above the regional average. Weaker export growth—amid softer global momentum and trade tensions—along with tepid fixed investment were behind the slowdown. However, solid wage gains, coupled with low inflation and unemployment, spurred private consumption, while public consumption also rose strongly as the government maintained a loose fiscal stance. On the political scene, the country will hold its third elections in a year in March, after parties failed to form a government following the inconclusive September elections. The protracted political paralysis is hindering both long-term policymaking and reforms to rein in the fiscal deficit, although overall growth momentum is unlikely to be significantly affected for the time being.
Israel - Current Account Data
|Current Account (% of GDP)||2.9||4.2||5.0||3.8||2.8|
5 years of economic forecasts for more than 30 economic indicators.
Israel Current Account Chart
Source: Central Bureau of Statistics and FocusEconomics calculations.
|Bond Yield||0.98||-1.69 %||Jan 01|
|Exchange Rate||3.46||-0.37 %||Dec 31|
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January 15, 2020
Consumer prices were flat in December over the prior month, following November’s 0.4% decline.
January 13, 2020
Merchandise exports fell 2.5% in December in USD terms, following November’s revised 0.4% expansion (previously reported: -1.0% year-on-year).
January 12, 2020
Confidence among Israeli households improved from minus 14 in November to minus 10 in December.
January 9, 2020
At its 9 January meeting, the Monetary Committee of the Bank of Israel (BoI) kept the key interest rate unchanged at 0.25%, in line with market expectations. The Bank decided to stay put despite stubbornly low inflation—which was well below the BoI’s 1.0%-3.0% target range for the sixth straight month in November amid a strong currency and low oil prices.
December 31, 2019
According to preliminary data published on 31 December, the economy expanded 3.3% in 2019, broadly in line with FocusEconomics’ panelists forecast of 3.2% growth but down from the 3.4% expansion observed in 2018.