Israel’s Current-Account Surplus Narrows on Trade Deficit
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Israel’s current-account surplus narrowed in the first quarter as rising energy costs and a strengthening shekel buoyed imports, triggering the first quarterly trade deficit in two years.
The seasonally adjusted surplus was $371 million, down from a revised $565 billion in the previous three months, the Central Bureau of Statistics said in an e-mailed statement today. The quarterly average last year was $1.6 billion, it said.