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.
Treasury updates growth forecast to 3.5%
Amnon Atad, Calcalist
Finance Ministry's new forecast for 2013 is 0.5% higher than Bank of Israel's recent assessment. Senior official estimates natural gas proceeds will contribute to economy's growth in next two years
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.