Current Account in Israel
Israel - Current AccountFollowing three quarters of rapid expansion, economic activity shrank in quarter-on-quarter terms during Q1, with private consumption, public spending, fixed investment and exports all weakening. Nonetheless, the economy’s underlying strengths remained intact: The labor market tightened notably, while Covid-19 restrictions were eased. The economy should return to growth in Q2: In April, the unemployment rate tumbled below its pre-pandemic level, while the Composite State of the Economy Index rose at its fastest pace in six months. Moreover, visitor arrivals were up 28% from the prior month in April, and the scrapping of all remaining travel restrictions from mid-May will be boosting tourism towards the end of the quarter. Finally, the global energy crisis is benefiting Israel’s gas sector: The government recently renewed gas exploration and hopes to soon reach a deal to supply gas to Europe.
Israel - Current Account Data
|Current Account (% of GDP)||5.2||3.6||2.4||2.6||3.6|
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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September 22, 2022
The Bank of Israel’s Composite State of the Economy Index increased 0.06% month-on-month in seasonally-adjusted terms in August (July: -0.06% mom).
September 20, 2022
The Bank Hapoalim/IPLMA Manufacturing Purchasing Managers’ Index (PMI) came in at 49.5 in August, down from July's 57.6.
September 15, 2022
Inflation dropped to 4.6% in August, below July’s 5.2% and undershooting market expectations.
September 11, 2022
Merchandise exports rose 14.0% over the same month last year in August, following July’s 12.9% jump.
August 23, 2022
The Bank of Israel’s Composite State of the Economy Index grew 0.11% in month-on-month seasonally-adjusted terms in July, down from June's 0.16% increase.