Israel posts $800M account surplus - Israel Business, Ynetnews

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Export of goods and services totals $22.6 billion in third quarter Photo: Avishag Shaar Yashuv
Export of goods and services totals $22.6 billion in third quarter Photo: Avishag Shaar Yashuv

Israel posts $800M account surplus

Third-quarter figures released by Central Bureau of Statistics point to first surplus in balance of payments since third quarter of 2011

Gad Lior
Published: 12.18.12, 16:17 / Israel Business

Israel posted a current account surplus of $800 million in the third quarter of 2012, compared with a deficit of $600 million in the previous quarter and a $1.3 billion deficit in the first three months of the year, the Central Bureau of Statistics said Sunday.


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It was the first surplus for Israel in its balance of payments since the third quarter of 2011.


The move from deficit to surplus is the result of a reduction of the deficits in the primary income account, from $2.4 billion in the second quarter of 2012 to $1.6 billion in the third quarter, and in the goods account – from a $2.6 billion deficit to a $2


The export of goods and services totaled $22.6 billion in the third quarter, while the import of goods and services amounted to $22.2 billion.


The export of goods alone totaled $15.4 billion in the third quarter of 2012, a 2% drop compared to the previous quarter. The import of goods alone totaled $17.3 billion. The surplus in the services account grew as compared to the previous quarter, reaching $2.3 billion.


Israeli residents' income from financial investments abroad totaled $1.5 billion. Foreign residents' income from their investments in Israel amounted to $2.2 billion in the third quarter, a 27.6% decline.



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